Needing cash, some small business owners bypass the bank
from The New York Times
It’s no secret that banks are hesitant to lend to small business owners with unproven ideas, and when banks do lend, they are usually pretty conservative. "When the business owner wants to establish that second practice, but there isn’t enough cash flow coming from the first location to finance that build-out, we’ll say not now," said Noreen Bishop, senior vice president and regional executive for Chase Business Banking. “If the second location will put that business owner and the first location at risk, we’ll say let’s give it one more year.” And that may be sound advice.
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