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| With all of the talk of SBA funds (loans) available now The behavioral aspect of the following: approval processes, the “chaos” of who’s getting what amount, the naysayers saying “Careful what you sign” and then the wish lists “what will I do with all that money?” I asked my dad about that experience in the 80’s. Our situation was unique in many ways. I was a child at the time but knew years later of “got a payment to SBA to make”. The debt from those years literally hung over his head for so long (not just SBA). Today I asked him about it (he’s 81 now). He said that on the second round he requested $9,000 and was subsequently approved for $90,000. He only took what he needed, the $9,000. He recalled a lot of new houses built with those loans (the ones he mentioned don’t have those houses today). He said if he had it to do over again he would have borrowed more and “rat holed” the additional funds investing away from just the farm. All in all he did what he thought was right we made it to ‘93 and were out. I bought a farm in ‘13 a full generation later. Careful what you wish for has become my motto the last few years. Yet in a moment the hopeless can turn hopeful, the “down and out” can turn “up and coming”’ and the mistakes of last season can become the mobilization for the next season! These times call for wisdom and vision. Incline your mind and heart towards something lasting. That’s what I heard in all of that. | |
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SBA then and now
