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You say tomato, I say tomahto
Posted by Geoff (more from Geoff) on Thu, 29 Sep 2005 09:50:48
In Reply to: Re: Multiple sources of repayment - Lending 101, Rafe, Thu, 29 Sep 2005 09:09:05
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There is more than one way to slice and dice them, but it boils down to the same thing in the type of small business lending we were discussing above:
PSOR: business cash flow
SSOR: assets pledged by obligor
TSOR: third-party guarantees, if any
Entrepreneurs take equity risks for equity returns. If you fail, you lose big, if you succeed you win big. I understand your reluctance to risk your family's financial security by giving a guarantee, but borrowers need to understand that banks are not your equity partners. Banks are just renting you a sum of money that they want back when you have finished using it. That means banks have what we call an asymmetrical payout profile: heads - you get rich but all the bank earns is Prime plus something, tails - both parties lose. But, you take the first dollar loss and banks take the last. That's why we call it "lending" and not "investing." Generally speaking, of course - YMMV.
Posts in this Thread:
- OT: Anyone have experience with SBA loans?, andym, Tue, 27 Sep 2005 03:46:24
- Thanks to all..........., andym, Tue, 27 Sep 2005 18:23:27
- Re: I am on the collection end of SBA loans......, paul de k, Tue, 27 Sep 2005 10:55:39
- Re: OT: Anyone have experience with SBA loans?, Saab good car, Tue, 27 Sep 2005 05:58:08
- I don't think they will, NickR, Tue, 27 Sep 2005 04:21:38
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