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Censored by Laurie Veteran

Censored by Laurie

Posted
Posted

Since the banks won't lend...

Here’s the idea they came up with: Americans themselves would start lending to small businesses, with Starbucks serving as the middleman. Starbucks would find financial institutions willing to loan to small businesses. Starbucks customers would be able to donate money to the effort when they bought their coffee. Those who gave $5 or more would get a red-white-and-blue wristband, which Schultz labeled “Indivisible.” “We are hoping it will bring back pride in the American dream,” he says. The tag line will read: “Americans Helping Americans.”
meangreendork Enthusiast

meangreendork

Posted
Posted

You know what's screwed up? The fact that the U.S. needs a microlending program for small businesses in the first place, especially when banks were given money with the purpose of lending it back out, not for buying up t-bills and notes from the Federal Reserve.

UNT90 Newbie

UNT90

Posted
Posted (edited)

I'm confused. So now there are good corporations (Starbucks) and bad ones (every other stinking one)?

$5 for a cup of stinking Joe sure seems like corporate greed to me.

Edited by UNT90
Censored by Laurie Veteran

Censored by Laurie

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I'm confused. So now there are good corporations (Starbucks) and bad ones (every other stinking one)?

Yes.

$5 for a cup of stinking Joe sure seems like corporate greed to me.

Medium coffee is $2.50...more than 7/11, sure, but then some people are willing to pay for quality.

What's my return on that $5 donation?

Wow. People really do suck.

UNT90 Newbie

UNT90

Posted
Posted

Medium coffee is $2.50...more than 7/11, sure, but then some people are willing to pay for quality.

Hippie Capitalist?

Could you please provide a list of the good corporations and bad corporations so I will know who to trust and where to spend my money?

DoubleEagle Apprentice

DoubleEagle

Posted
Posted

Didn't Starbucks put a lot of small businesses out of business in order to become the global power they are today? Or is that an unfair claim?

Wouldn't it be more accurate to say that Starbucks customers put a lot of small businesses out of business? After all, it was the consumers that abandonded local coffee shops for the Starbucks brand.

Censored by Laurie Veteran

Censored by Laurie

Posted
  • Author
Posted

Didn't Starbucks put a lot of small businesses out of business in order to become the global power they are today? Or is that an unfair claim?

Wouldn't it be more accurate to say that Starbucks customers put a lot of small businesses out of business? After all, it was the consumers that abandonded local coffee shops for the Starbucks brand.

I wouldn't be surprised at all if Starbucks existence and subsequent expansion has actually helped small business coffee shops. Starbucks is responsible for bringing awareness to coffee's "gourmet" qualities (the subtleties of various growing regions, preparation methods, etc). Starbucks bread the coffee snob and essentially the entire gourmet coffee industry, here in America anyway. I know personally I've about 5 locally owned coffee shops within easy walking distance...another 5 or so a short bike away...all successful and all in spite of two local Starbucks locations as well.

Denton has 4 local coffee shops (Jupiter House, UnCommon Grounds, Art6, The Hydrant) off the top of my head, and a successful Starbucks as well.

KRAM1 Rookie

KRAM1

Posted
Posted

You know what's screwed up? The fact that the U.S. needs a microlending program for small businesses in the first place, especially when banks were given money with the purpose of lending it back out, not for buying up t-bills and notes from the Federal Reserve.

Who says it's screwed up and why so? How many here have ever evaluated loan requests from small businesses either as an on-going concern or as a start-up? You might be surprised to find that may requests are DOA as the folks asking have no business plan, no experience, no capital, no collateral, no capacity, terrible credit etc., etc. Just because one has a good idea and a "want to" does not a good loan make. I spent lots and lots of years lending to small businesses early in my banking career. Made lots and lots of loans (all great loans when I made them, but not all good after I made them...HA!) and turned even more down. Microlending often comes down to "friends and family" and that has been happening here in the US for eons.

The vast majority of small businesses fail within the first five years for any number of reasons...many times it's due to the lack of business skills on the part of the owner who just had a good idea or thought he/she knew how to run a restaurant or build a house or sell a widget. Banks ARE in the risk taking business, but they are not in the charity business and have a responsibility to protect the assets of their depositors through prudent and sound lending practices. We have all seen what happens when banks stray from that process and lower lending standards for the sake of political reasons, profit, regulation, etc., etc.

Microlending is not a bad idea nor is it a bad idea for the US. Microlending is NOT small business lending in a banking sense. It has proven successful where people actually form groups to lend to other people and HOPE they get their money back to lend to others. My wife and I are part of a couple of microlending groups right now. Pretty cool stuff, but micro-lending is not small business lending in a banking sense.

Also...please describe small business? Is it the SBA's definition of small business? The Obama Administrations definition of small business? PointBank Denton's definition of small business? Citigroup's definition of small business? Wells Fargo's definition of small business?

What's your definition? How many employees? How much in annual revenues make a small business in your mind? All definitions have different structures, different needs, different experiences, different credit standards.

Very easy to make comments and to cast dispersions on industries and people without all the needed info. It's another thing to know about it from the inside. And, to actually have to make those decisions with one's own career, the bank's reputation and depositors and investors funds on the line.

Microlending, even in the US, is a very good thing and serves a very useful purpose. Microlending has been going on in the US for centuries. Small business lending is the riskiest of all bank lending. It takes professionalism, training, experience and some empathy for one's clients to do it well.

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