Is Square's Move Into Lending a Danger Sign?
Is Square's Move Into Lending a Danger Sign?
NEWS ARTICLE - 8/20/2014 - By Elizabeth Macbride (Forbes)
As the economy continues to bounce back from the recession in the late 2000’s, many entrepreneurs are finding that attaining financing or credit through banks and lending institutions is becoming easier and easier, but does this mean you should borrow? Forbes reporter Elizabeth MacBride takes a look inside the booming credit lending market and why, despite a broader spectrum of options, those seeking to secure financing should remain cautious of both the amount credit they borrow and where they get their credit from. MacBride incorporates testimonials from business owners who advise prudence when it comes to finding the right finance options. One of these entrepreneurs is Batteries Plus Bulbs franchise owner Bates Kennedy. Kennedy was a former owner of a manufacturer's representative business and after losing his four largest customers between 1998-1999, instead of finding more financing to keep that venture alive, he cut his losses and borrowed capital to open a Batteries Plus Bulbs franchise. Today, Kennedy owns and operates 10 Batteries Plus Bulbs locations and sees himself as an example for other aspiring entrepreneurs. Read More opens in new window