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3. Can I demonstrate a plan for the timely repayment of the loan?
This is really tough for idea-stage companies with no income—and is why so few of them are able to walk into the bank and get a loan. I'd go so far as to say, if you haven't got a plan for how you will repay the loan, you probably shouldn't take a loan if offered. Nothing could be worse than accepting financial responsibilities you don't have the means to accommodate. Hope-ium doesn't count here either. Acquiring a small-business loan should not be an exercise in wishful thinking.
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Michael Cornnell
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