Advice from bankers, or people w/ exp. w/ small business loans

wait, so the first time you lied about why you needed a loan and they approved. then when you told them the real reason, they withdrew. now you're going back to lie again as to why you need the money? frankly, i think you're way in over your head on this.


really...are you trolling us?

 

I own and manage a few coffee shops in Houston. PM me and I'll be glad to answer any questions you have.

 

They saw you coming a mile away.

trust money?

How about you save a bit of YOUR OWN MONEY and start YOUR OWN small business.

You need to invest in YOURSELF and go to business school or take some kind of course in economics because the your idea of taking a loan to invest in a business is flawed in the worst way.

 

Posted this in your other thread....Don't do it dude! I don't see you making money when paying a monthly franchise royalty fee, business loan and loan to a family member.

I did this in my mid 20's (I'm 32 now) and sold the business for a decent amount after 5 years but for the amount of money put in and hours worked, it wasn't anywhere near worth it. Too much income having to go to pay royalty, bank loans and a family loan. Every situation is different and maybe your endeavor would be a success but owning a small business has enough risk but when you take into account how little resources you have and the way you're having to pull money together, you're putting yourself in a bad situation.

 

REPPED!!!!

 

The truth or nothing. Don't sacrifice integrity for gain.

Get cash on your credit cards, borrow from relatives, pawn your TV. Do it the right way or not at all.

 

Wait ...so you have no money, no word processor, and you are going to have to lie to get a $10K loan?

This is going to end badly for you, no doubt.

 

Dude, you're asking for advice on how to defraud a bank for a loan? And you put it in writing? And I quoted it for posterity? Dude...

 

I'm not a lawyer, but I do play one on TV....and I think lying to a Federally insured institution is a very poor decision.

 

Actually, the definition of entrepreneurship according to the business world is pursuing interests regardless of the amount of resources you currently control (ie money).

That said, taking a loan out to cover basically all of the startup costs is a terrible idea. If it were a good idea he would be able to get investors. The fact that his primary source of advice for this whole thing seems to be Clutchfans is pretty scary, but should be fun to watch.

 

That's crazy talk, according to some, all he has to do is believe in himself and follow his dreams down any pipes they lead.....

 

I'm all for taking chances...but lying to a bank I'm generally down on. I guess I'm old fashioned that way.

 

great idea. only $10k? hell...make it $20.

 

He's making a few good points. Look, I know a lot about the law and various other lawyerings, uh, I'm well educated, well versed. I know that situations like this, small business-wise, are complex.

 

I bet I can go toe to toe with you on bird law though.

 

I will bet Yao Ming's unborn son that you end up in prison or set on fire at some point in your life. You are just one huge ball of "NO".

 

Tell them it's a matter of national security.

Tell them you can't be more specific but ask them if they've seen the movie "Aliens" under your breath.

 

seriously, this guy has to be trolling hard.