Small Business Boomers

I’ve been around long enough to hear just about everything, and I’m often surprised by the stuff that small business people believe about starting and running a small business. Much of this stuff is negative and causes people to believe that they can’t start or run their businesses effectively. So, I’ve decided to take on some of these myths. Over the next few weeks or so, I’ll present some small business myths and the facts to disprove them.
My husband is a big fan of those “myth buster” guys on the Discovery Channel who go after cherished myths …read more

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I talked with several people lately who not been able to find startup money from a bank without collateral. So they borrowed the money for the collateral. At over 11 % interest. Yikes!
I see several problems with this scenario. First, this new loan goes on your credit rating. Unless you have fantastic credit (above 750 probably), it will lower your credit score. Second, you will now have to pay back two business loans instead of one, that is, the loan you just took out for collateral and the second business loan from the …read more

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