So, apparently only " 20,000 in SBA-backed credit" was part of that program. "Valenzuela borrowed $1.8 million in government-backed funding" for another part of it... Since the total was $17million, I guess there was a lot more in no-bid contracts?
I'm so glad that she "did all by herself".... rofllol
She is definitely the poster-child for GOP hypocrisy about the "We built it ourselves"....
What happened to get out of the private sectors way?
She might have succeeded without the government loans she sought, but in reality, she sought out and accepted the government loans. Those who state that no one knows if she would have succeeded with private loans are the ones guessing. The FACT is she sought out, accepted and crowed about the government she got. Claiming anything else is a COMPLETE LIE. She got help from her government, get over the fact that it doesn't fit YOUR narrative.
She built her business, with massive help from the government. Thanks government for helping this citizen to achieve her dream. She is a success story of how government can help the small business community start and build their business.
Of course, if she didn't supply the lumber, they would have been able to build their treehouse...
When you plant ice you're going to harvest wind. - Robert Hunter
And therein lies the problem SS. Those seeking capital will, like water, seek the path of least resistance to get where they wish to go. If "too big to fail" banks can get the feds to guarantee the loans and protect their capital why would they lend to anyone absent the guarantee? By participating in the federal scheme, they generate good will inside the halls of government that can later be used to secure more favorable legislation when their lobbyists come a'callin. The politician gets to tell their constituents that they've helped make college more affordable (which is the exact opposite of what they've done by the way) to help them in their efforts to hold onto their seat in the next election and the banks get an empathetic ear in the legislature in exchange for their willingness to participate.
Gee, you think that had anything to do with our recent financial problems?
How many businesses offer small business loans at reasonable rates? Therein lies one of the problems. Established "big businesses" don't want competition.
Our recent financial problems are directly linked to the Glass-Steagall Act repeal, thanks to Clinton and his Wall Street cronies. That act, for those unfamiliar with it, in part, prevented commercial banks from speculating on the stock market with depositors' funds. As federal regulators reinterpreted Glass-Steagall, it was decided the Act was dead, and it was repealed.
We need to bring back Glass-Steagall and have regulation that works. And I, for one, am willing to be one of the regulators to ensure that it does work.
But arguing that the government had nothing to do with her building her business is false. She should be held up as an example, an example of how the government/taxpayers can help someone succeed with their dreams by giving them a hand up, not as an example of she built it all on her own despite the government.
When you plant ice you're going to harvest wind. - Robert Hunter
She wouldn't have been able to build it without the $17million of GOVERNMENT MONEY? She DIDN'T DO IT BY HERSELF. If the Government had not been there with the $17million, she would have had nothing to build it with.
God, I love the smell of hypocrisy in the morning.
Maybe we should all pitch in a buy LJ a new watch, its after 6 in the evening! Or we could buy her a can of WD-40 to fix her sticky copy and paste buttons!
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Maybe Sher could be invited to the Democratic convention, she is absolutely the poster girl for what Obama said ......she didn't build her business on her own, she had help along the way, 17 million dollars worth of help.
