"It seems these owners did not squander their EIDL on anything criminal, but they got used to a new comfort zone and used the money to pay salaries and other expenses. They got used to having the extra cash, but it didn’t help them grow the business."

"Here is how it starts: You have a friend who goes to a bank and has a bad experience applying for an SBA loan. So, you assume that the SBA is slow, requires too much collateral, or is too expensive. And by association, you conclude that the SBA is not for you."

"It’s important to consider what the money was used for. In her case, she used her line of credit to invest in software development, which is an investment that really should have been paid for with term debt."

“How we respond in a crisis is a sign of who we are and how we lead. Mine arrived several years ago when 90 percent of my business was coming from one lead source.”

“At our company, we have adjusted budgets and made some tough choices, including reducing personnel to weather this storm. These decisions are never easy, but I think it’s the responsible thing to do.”

“Eventually, this new business line could become more significant than our current business. At the same time, we are scared. I worry about our brand, reputation, and integrity. “

“Someone who bought a new business using his current business’s line of credit for the bulk of his funding thought he was making a smart decision and would only be paying the interest on the purchase.”