Small Business Funding Vs. The Big Three?

by J.Crawford on December 5, 2008

Small business funding is tricky even in good times. For entrepreneurs the prospect of borrowing money is an uneasy proposition at times. What will it mean? In the future? I remember borrowing around 250k from individuals in my community, short term, no collateral. I did sign a promissory not that I was asked to write up. Every one want collateral, ownership, or some other sort of guarantee, something that intelligent small business owners might think outsmart. Guarantees in business areĀ a funny thing. Are the real?

It seems the big three, based on the petitions they made to congress, really don’t possess a lot of ownership. Would I ever go and get money and invite regulation, control, and shared ownership in my small business? Not like that!… While I’m not saying that partnerships and other creative financial arrangement aren’t necessary and even smart, I am saying it just strikes me as odd. The approach I mean.

I can say I’m glad I’ve invested over 30 hours this week to listen and watch the big three talk with congress, I’ve learned much. I’ve learned not only how the congressional process works but the type of business and mindset that these American Institutions operate in… I have found it fascinating!

What are you thoughts?

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