Thread: Small business loans to foreigners

I was in the beauty shop today, she told me the store next door...one of those asian nail salons.....got $80,000.00 to open the store.....

then it's tax free for 10 yrs.

Then they go back to their country and stay 3-4 months, and come back and do the same!!!

NO TAXES!

What I don't get is.....wonder if they get another small business loan???

I heard the same thing the other day about people from India

There are many loans and programs available to those wanting to start a business today. These programs are for Americans and immigrants. I had a bunch of low interest loan offers when I started a small business years ago, but the fine print had some catch 22s that are easy to miss. You in some ways are signing your business over to the lender. You can end up making money for everyone but yourself and your business if you are not careful.

You must also use this capital (loan money) for business related purchases (assets) and operating expenses (over head) or you face stiff taxes and possible fines.

The tax free part may have some truth in it, but you have to make money and in most cases you must have at least one employee. And once you have a business license the IRS and State Board of Equalization are on you like an ex spouse.

I don't have a problem with our government giving citizens of this country business loans, however, I do have a problem with them giving money -- in some cases a VERY lot of money -- to foreigners. Federal funds belong to the people and the states, and are not the federal governments to give away.

Then again, it's not their country to give away either, but they're doing a pretty job of that too.

I worked for a company owned by Muslims....same thing. They built a 3 million dollar building......


One thing I am worried about is ....our homes, with illegals getting home loans, if they buy a home next to yours....watch the value of your home go down.