So the government will let me take out $140k as an 18 year old with no collateral or credit check… but won’t let me take out a business loan of more than $25k to start a business without collateral? Even with good credit?? I am ranting here. But I am tired of working under somebody. I want to open my own business. My only debt is my school debt which is about to be due in a couple months. Bill Clinton is seriously an evil person (started the huge amounts of school loans that can be loaned out, also incarcerated so many minorities).
It’s just mind blowing that in order to make money, as a worker a college degree is essential. Can barely get a job as a Secretary without one. so they’ll give you egregious amounts in loans, but won’t loan people the capital to fund their own business as easily? Literally need to jump through hoops just to get $25k for a small SBA 7(a) loan. And you only get 1. I thought this was a capitalist society where we’re encouraged to start our own business. It’s more like we’re encouraged to stay in our place as middle/lower class and leave the generational wealth building to the upper class.
I read on Reddit the other day that somebody committed suicide for taking $300k out in medical student loans, wasn’t able to find a residency and unfortunately committed suicide… Rest In Peace to him…