CBDC

I’ve just learned something rather disturbing about the CBDC – and cannot quite fathom why they didn’t help our business some 10 years ago but helped another over and over again at 10 times more  than we had asked to borrow to expand our business.  The CBDC is an organization that is supposed to help small businesses in their expansion and modernization of their business by providing money and advice to young entrepreneur.   Had they helped us out 10 years ago, we would have been a lot more successful quicker than we are now.  Because they wouldn’t loan us a $25K expansion money – their reason was we are bankable – but it’s not true because no bank would help us some 10 years ago.

So in the end – the boss did it his own way but not a way we would advice other young entrepreneurs to take because it would means a lot of wasted money and time when one can do better with a loan from CBDC at a lower interest rate.  It’s CBDC lost – because the interest and principal were all paid up within the 5 years that we had planned and now our business is doing so good, we don’t even owe our suppliers any money.  Everything in the store belongs to us – but it’s still disturbing to learn that CBDC loan $150K to another business over and over again.  I also know that they’ve loaned another business that went under within 6 months.  Boo ! to CBDC in this town – good thing we didn’t need anyone’s help after that.

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