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    0 Replies Latest reply on Mar 2, 2009 6:54 PM by NoBullFunding

    Are You Worried About Paying Back Your Loans?

    NoBullFunding Scout
      I read an article on cnnmoney that the default rate on SBA loans has hit 12%, and let's face it, the economy is showing no signs of getting any better soon. As this forum is a great cross section of business owners and business hopefuls, I thought it would be interesting to hear from everyone as to how comfortable they feel about their business and personal debt. Do you feel like you are in too much debt? Are you concerned about making your payments over the next 12-18 months?

      One major theme that I'm seeing in particular is that people who havve purchased businesses in the last 12-24 months are struggling mightily. The purchase was made based on historical cash flow and revenues, and now that the economy is weak, those figures are 20 or 30% lower yet the debt loan is higher because the new owner borrowed a mound of cash to make the purchase in the first place.

      (Note: I offer free consultations to anyone that is having problems managing debt - business, personal or both.