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-- talking about the small business station is -- doing right by a small businesses or is it is making a -- And I think it's -- it's it's an age old question is a lot of small businesses I think feel like they've been left in the cold.
Bob Coleman is here in the -- founder of -- publishing.
And I love the title of your book which ominous signs hold on money money everywhere and not dropped -- main street.
They feel is an absolutely hate you for having me back up is -- -- small businesses still feel like they're not getting what they need to -- Absolutely.
We still have a problem with -- capital to main street.
In this debate -- during -- show you were talking about Freddie and Fannie and hum billions and billions of dollars they have pumped into that.
To -- hit never talk about the Small Business Administration.
If we want to be prudent.
We don't want to waste money we want to be treated with the government money.
Do you know that this is program pays for itself of the borrowers and the lenders that's a piece of this program.
Yes he did not need a bailout this is one program that's critical for getting that capital to mean streets of and that's and that's what we need to do but why isn't.
Is it because it's not getting.
It's not getting money.
A number of reasons.
-- in its a dark comedy the banks have cut back I'm getting I'm making loans why the regulators are just hammering him do you know that.
There was not one we -- last year chartered by the United States.
Not why not one not one.
Laurie a good times of them are still closing and they're closing and they're not making loans so with the -- the regulators are putting on the banks to not make loans.
I talked to so -- bank presidents that this program is excellent.
For allowing them to make loans and having the regulator saying -- you know what.
Think you can mitigate and also this is not corporate bailout we hear about that all the time you possibly well we don't wanna -- all these things the -- -- up their money.
They have risk -- 25% risk.
So there's real skin in the game from that standpoint -- -- -- -- is government signs a peace -- you know what if there's a problem will be partners.
So that's why I'm a huge advocate for the SP it.
We know what they're doing good.
Many arguing now that they're doing not enough and that's -- things should be shut down.
Yes and I understand the argument history shows you know SP in the sixties -- seventies was a direct lender.
Buzzword slings are up and what we don't want to hats and SBA's in this -- said we're gonna shift our model.
To participate -- partnership and some people still haven't quite got the -- one that.
This is is this is a program if you wanna talk about creating jobs won't being for but this is the best program out there.
Small business streets and yeah there's there's losses it's a 500 dollar per job.
You know how much we spent as taxpayers to subsidize General Motors -- 100000 dollars the cost is that was.
-- understand that the money goes from the bank through the SBA out to the business.
It doesn't even go to recipe SP never -- as well that's part of the problem you know right.
-- that's part of the solution.
That much out of but I can't -- -- -- of their problem is that that he bit that have to this small business is the problem right now the money's not making it.
The money's not making it right and and the reason why the money isn't making it its weapons supply demand you -- and main street -- -- this is Bob.
I just think I can get the loans that they stop talking yet talked to Tenet's book thinks he talked to the -- -- a lot -- We need quality farmers -- -- -- -- getting up from Emory hammer in from the regulators so it is a difficult situation out.
The good news is we're better off -- -- a couple of years -- SP is gonna have had its best -- ever last year second best -- this year so that is good news.
I finance the importance -- more -- -- be -- from that standpoint what are you hearing men from the small business owners and speak to.
I am hearing first about there -- a lot smarter they're not being arrogant say -- I'm smarter they're saying.
I've learned a lot over the last four years for using technology.
They're being smarter about social media activities -- about customer service they're being smarter about doing their job that best they can't.
And we -- you walk in -- local restaurant that look opponents of the local main street.
Those they're being pretty responsive -- understand the pressures.
And and there they're willing to identify so -- -- out there -- -- right now I -- look I -- alone what's your recommendation.
Talk to continue to enforceable in evolve in your community go old school back to the fifties -- to the future.
Talk to talk to the the eat at your restaurant they shop -- -- store get to know than get to get to.
Impress upon -- you know what you're doing you're an expert of what you're doing and you have a love for and a passion for your business and you -- to -- community.
Those are that's where we're seeing a lot of good opportunities for small business also credit unions.
Regulations have been expanded.
You can debate about Washington all over the place but there are good bureaucrats believe it -- -- mean there are good people who want to get money out and while.
Don't know what's perfect whatever credit unions -- we're gonna allow a little bit more small business lending so that's good news talk to people network.
Sell yourself its goal of scope.
But do you need to you know financial statements -- revenues because it it ally that has been at the small business needs money to -- generator -- I.
Banks aren't if you walk in NCB I -- -- open up Tracy's gonna chalk play or re and that no nothing and they're gonna go Tracy.
We love you but we can't help people.
You walk in three years later in Tracy's donating copy shop has three -- four employees you've made a little bit of money -- guys.
I really think we can do well around the corner with Tracy's to and you show that you can -- when he.
-- talk to it -- so it's a it's a terrible.
Difficult proposition -- but.
You need a ticket to go to the dance and number Apatow Glaxo what I do and in that instance I'm begging borrowing and pleading from family members yet.
Yeah you're gonna start -- family that the three apps.
France fools of passing right right right and that's that's where we'll start -- you start in India because those are the people that believing you.
And can you be up friends -- this is what I wanna do it -- you're talking to friends and your family those your biggest supporters in and move on from there.
-- such great information that's why everyone should read the Coleman reports Bob Coleman found -- -- publishing following him.
Or -- website -- assays Coleman publishing dot com and the book.
I love this I don't -- -- many everywhere and I dropped from main street I love it.
-- -- let you -- -- -- and I'll take you so much to deceive you go to check him out he's got tons of good information for small business owners.
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