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<blockquote data-quote="Warren Allison" data-source="post: 1786465" data-attributes="member: 40587"><p>You are 100% correct. Credit is a tool, and no company has ever reached its potential without it. But nothing is 100% guaranteed to make money. That is why I would never borrow say $100k to buy cattle, or take $100k of my money and buy cattle. But if the potential to make a profit is there, I will allow a company I own to borrow it. </p><p></p><p>And it is not like you can form an S corp or LLC today, and that company go get a sigmaure loan or line of credit with no co-signer. @ of my compnaies are 30 years old, and for years I would have to co-sign for a loan. Ist one I got without having to personally guarantee, was a $50k loan, and I had to put up the title to the company's $50k F350 and $100k LQ trailer. But eventually, the company could borrow money with no co-signer or collateral.</p></blockquote><p></p>
[QUOTE="Warren Allison, post: 1786465, member: 40587"] You are 100% correct. Credit is a tool, and no company has ever reached its potential without it. But nothing is 100% guaranteed to make money. That is why I would never borrow say $100k to buy cattle, or take $100k of my money and buy cattle. But if the potential to make a profit is there, I will allow a company I own to borrow it. And it is not like you can form an S corp or LLC today, and that company go get a sigmaure loan or line of credit with no co-signer. @ of my compnaies are 30 years old, and for years I would have to co-sign for a loan. Ist one I got without having to personally guarantee, was a $50k loan, and I had to put up the title to the company's $50k F350 and $100k LQ trailer. But eventually, the company could borrow money with no co-signer or collateral. [/QUOTE]
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