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July 17, 2006


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I agree with the bad debt/worse debt, except in a few instances.

For example, the costs of starting your own business might be prohibitive. Getting a small business loan might get you some start up capital and hopefully to the point of being profitable so that you can pay the debt off. There is a lot of risk in starting your own business, but in many cases the rewards of being independant can far outweigh the risks.

Most people probably could not save enough money on their current income to get the start up capital in a time frame that would allow them to realistically start their business. If you are ready to start a business now, and could get it operational in a few months to a year with a business loan, that would under many circumstances be much better than having to wait for 8 or 9 years to save that same amount for start up costs.

On a side note, the nice thing about a lot of online businesses is that they can be started and made profitable for pocket change and not require a business loan to get started.

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