Naysayer John wants you to buy a solar powered bike
If you're unfamiliar with the concept of SBA loans, here is a basic rundown:
They are government insured small business loans funded by the taxpayers. On top of the lack of a penalty if the loan goes unpaid, if the business taking out the loan can't make the payments on the loan, the taxpayers are left on the hook for the unpaid balance.
To put it simply, it's another terrible government program that wastes taxpayer dollars.
I talked a little about SBA loans on my show today and a naysayer named John was kind enough to call in to sing the praises of SBA loans. John also says that he plans to take out an SBA loan for an amount upwards of $100,000 to work an idea for solar powered bikes...
I think John made a great case for why SBA loans are a bad idea. What do you think?