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Even that horrible Bain Capital doesn't have enough money to take care of the needs of all the entrepreneurs who need finances. I think that is the reason for the SBA being formed to loan money to them. Of course, when the loans are repaid just like to a bank they have more money to pass around. You are trying very hard but just not cutting it.
Who owns SBA? Is it a private or public sector that is giving out loans? If it is public, then the need for our help was needed but keep on ignoring that fact, it makes you show your true colors.
Great post Gene. Fortunately for Republicans, they are too clueless to even realize their blatant hypocrisy, which allows them to live in their own private Idaho while they continue with their hypocritical claims.
Also fortunately for them the Dumbing Down of America allows them a steady stream of new converts.
Where's the hypocrisy? Obviously, you didn't read the story. An SBA loanisn't a gift.
Every business start up requires finacing. But financing does not guarantee success. It is the entrapreneur that builds the business that is responsible for it's success or failure.
Even that horrible Bain Capital doesn't have enough money to take care of the needs of all the entrepreneurs who need finances. I think that is the reason for the SBA being formed to loan money to them. Of course, when the loans are repaid just like to a bank they have more money to pass around. You are trying very hard but just not cutting it.
Quote:
Originally Posted by nononsenseguy
Where's the hypocrisy? Obviously, you didn't read the story. An SBA loanisn't a gift.
Every business start up requires finacing. But financing does not guarantee success. It is the entrapreneur that builds the business that is responsible for it's success or failure.
Where's the hypocrisy? Obviously, you didn't read the story.
And again from the story you linked to:
Quote:
First State Manufacturing, Valenzuela's company, has received more than $2 million in federal loans, according to a Small Business Administration document. Among the loans is $20,000 in SBA-backed credit that Valenzuela and her husband received to get their business started. In addition, Valenzuela borrowed $1.8 million in government-backed funding to build her firm's 66,000 square-foot facility, where at least 40 technicians work today.
And that's cool - she used the system in place to secure financing to get her company started. And I'm sure she's paid the money back, or is paying the money back. The system worked for her - she provided the idea and the hard work, the federal government provided a loan for the initial costs of setting up the business, and everyone wins ... especially, and appropriately, the small business owner.
That's a great American success story. She made her company a success due to her own efforts ... and the company exists due to loans from the federal government. So, WE built that!
Interestingly, the article also states:
Quote:
On top of that, First State has benefited from $15 million in federal contracts since 2001, receiving at least $1.5 million each year between 2006 and 2011, according to government data.
And that's cool, too. I suspect we all like to see the federal government contract with successful small American businesses, right?
Every time someone proposes to build a big business or factory somewhere, cities and/or states scramble to put together a package of incentives to get that factory or business for their community. Incentives could come in the form of free land, tax breaks and building infrastructure to get water, sewer and roads where they'd be needed. Sure, the business or factory could be said to have built their organization BUT how can Republicans deny that they still needed goverment support? Government low interest loads are just a part of it, but also an important part. Sher Valenzuela got around 17 million in government loans and contracts and she is saying she "we built it" entirely on her own? Nonsense.
Nice try. We are talking here about small buisnesses, business start ups, not large corporations that were built years earlier and grew.
I just read an account this morning of Fairchild Semiconductor. At the time of it's founding, they were just a group of engineers and techicians, some from Bell Labs, some from other companies. They knew semiconductor technology, having developed most of it. Fairchild at the time was on the cutting edge of not only mass producing bipolar transistors on silicon wafers but they were in the process of developing CMOS technology and integrated circuits. They knew nothing of running a business, so they had their share of difficulties. They also got funding (eventually) through some contacts who became venture capitalists (also a new idea at the time). The Fairchild story is a story of hard work and dedication to their work.
Spinoffs from Fairchild were, National Semiconductor, AMD, Intel, and many others. All were still small organizations at the time, but they created the tecnology and the devices that made the computers we use today possible.
Where's the hypocrisy? Obviously, you didn't read the story. An SBA loanisn't a gift.
Every business start up requires finacing. But financing does not guarantee success. It is the entrapreneur that builds the business that is responsible for it's success or failure.
I can do this in bold font, too.
SBA is a government agency. When it arranges with partner banks to extend loans to entrepreneurs, the SBA back-guarantees a portion of those loans to the bank - reportedly up to 90% during the worst of the economic recession. That guarantee is ultimately funded by TAXPAYERS. In other words, were it not for the government putting taxpayers on the hook and sweetening the deal, the banks would not extend those loans to those entrepreneurs - at least not without worse terms for the entrepreneur.
Furthermore, the SBA also pushes for many of those small businesses get a shot at prime government contracts.
If an entrepreneur wants to build a business, shouldn't they rely on their own private financing capabilities rather than government-arranged / taxpayer back-guaranteed funding that may come with the option of special consideration for government work?
You can't rail against "Big Government" meddling in the private sector and simultaneously be happy to accept SBA loans. It does not work.
And that's cool - she used the system in place to secure financing to get her company started. And I'm sure she's paid the money back, or is paying the money back. The system worked for her - she provided the idea and the hard work, the federal government provided a loan for the initial costs of setting up the business, and everyone wins ... especially, and appropriately, the small business owner.
That's a great American success story. She made her company a success due to her own efforts ... and the company exists due to loans from the federal government. So, WE built that!
If a loan comes from a bank, did the bank build the company?
Sorry, you did not build that!
Financing does not equate to "building."
The Democrat's argument here is still absurd, it is insulting to all the entrepreneurs who have built businesses from scratch, who alone deserve the credit, and the profits, and this idea that they owe something to be paid back to the government or to the public for being so succesfull is for the purpose of justifying the higher taxes that Obama wishes to extract from them. That is what this is about, and nothing more.
Quote:
Originally Posted by GreenGene
Interestingly, the article also states:
And that's cool, too. I suspect we all like to see the federal government contract with successful small American businesses, right?
Like Haliburton? Haliburton, by the way, developed much of the oilfield equipment in use today, which is why they are so often awarded "no-bid" contracts. They know this stuff better than probably anyone else.
So you are gonna continue to ignore the fact that she received a government loan to start her business? Makes sense, ignore the truth when it doesn't fit your story. That is the republican way afterall.
Yes they will. It's a shameless, gutless tactic. I can see why although Romney as a candidate was hard for them to swallow, he is now resonating with liars and people of zero integrity. Like seeks like. If the truth was tatooed on their eyeballs, they would not recognize or acknowledge it.
NOBODY HAS BUILT A BUSINESS WITHOUT THE HELP OF SOME OTHER ENTITY OR WITHOUT UTILIZING WHAT OTHER TAXPAYERS HAVE HELPED PAY FOR!!!! Not debatable!
Ok. Then let's see that entrepreneur build that company with their own capital or whatever they can arrange in the private sector, not through government-arranged / taxpayer back-guaranteed loans at better-than-market lending terms. Does that sound like the "free market" to you?
Yes they will. It's a shameless, gutless tactic. I can see why although Romney as a candidate was hard for them to swallow, he is now resonating with liars and people of zero integrity. Like seeks like. If the truth was tatooed on their eyeballs, they would not recognize or acknowledge it.
NOBODY HAS BUILT A BUSINESS WITHOUT THE HELP OF SOME OTHER ENTITY OR WITHOUT UTILIZING WHAT OTHER TAXPAYERS HAVE HELPED PAY FOR!!!! Not debatable!
My husband did. No loans. No inherited money. Just by being very, very good at what he does. Even though he is good, I dare say it is unlikely that he is unique.
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Haliburton, by the way, developed much of the oilfield equipment in use today, which is why they are so often awarded "no-bid" contracts. They know this stuff better than probably anyone else.
