ForumsStarting a Business

Hmmm, well I know several other bar owners in NYC, many of which have multiple partners. Everyone brings something else to the table.

Regardless of the fact that our major banks have received tens of billions of dollars in TARP funds, they will NOT lend for any start up business at this time.

I am a franchisor who has been putting people in business for almost 30 years and regardless of your credit standing or equity contribution...they will not talk to you.

My company has been a BofA client for 20 years and personally I'm a client of their subsidiary US Trust and I could not even get past the first kid on the phone.

Very, very disappointing!!!

The SBA is a scam just like other government programs. I applied for an SBA Patroit Express Loan (776 Equifax, 822 Experian) only to find out 12 weeks later after jumping through all their hoops that I did not qualify. I served my country for 17 years worked to build excellent credit, paid my bills on time, just to be made to spend a huge fee to have a demographic study done, a cultural survey done, economic study done, all this is out of pocket expense for me. Then to have some kid just out of grad school tell me that after all this, I don't qualify. Wrong color, Wrong Sex, Wrong Religion, even had the guy tell me that "it's a shame you're not a black woman, then I could get this done" with a laugh. Thanks America. Oh Yes!! If you happen to listen to a SCORE counselor, if his lips are moving, then he's lying to you. Forget the government, fine a crime boss, or drug dealer, they'll cut you a much better deal.