[quote=bearishgurl][quote=AN]Uh, if a business run out of cash to operate, then they did fail. When they fail, the SBA didn’t give them more money to keep on operating. This is no different than FHA, etc. If you think these are the same as the bail out of big banks a few years back, then I stand by my statement that WE ALL can be bailed out, so quit complaining.[/quote]
I’m stating the biz owners who were successful in securing SBA loans to help them continue or get restarted DID get all or part of the money to do so.
With FHA loans, there is collateral given in the form of real property. This is not (usually) so with SBA loans.
You can call SBA loans “bailouts” if you wish. In my mind, they are only “bailouts” if they are non-performing. In any case, they are fully dischargeable in BK proceedings.
You were the one “complaining” here when you stated that small biz owners don’t get “bailed out.”
[quote=AN] . . . BTW, last I check, the many small business owners who leverage to start their business and fail didn’t get bailed out. So, again, your broad stroke brush is horrible. . . .[/quote]
The fact is that many of them DID, courtesy of the Federal gubment.[/quote]
Uh, you’re the one that’s calling SBA a bailout. I didn’t and am not. In my eye, they’re similar to FHA, Fanny, Freddy, etc.
I didn’t “complain” small biz owners don’t get bail out. I’m stating the fact that they don’t get bail out like the big bank did. What you described is NOTHING like the kind of bailouts the big banks got. Again, do you think SBA will give a second loan to shore up a failed business? Do you think when a small biz file for BK, SBA step in and say, don’t file for BK, here are some more money to turn your companies around?
