Entrepreneurship: Conversing with an optimistic financial lender

It's always interesting to learn about a financial lending firm that arrives on the scene during a monetary crisis. In this case, I'm thinking of GlobeFunder, a direct-to-consumer lending company. I half wonder if the executive management team thinks it's the unluckiest company in the world -- or if it actually feels very fortunate. After all, with a credit crunch, there are fewer borrowers who have good credit and can get a loan. But with a credit crunch, it certainly will have plenty of people who want to borrow from the company.

So that brings me to GlobeFunder. I thought I'd let everyone -- entrepreneurs in particular -- know that there's a new financial lending firm on the scene, and it's eager to lend you money. Well, hold on, before you get too excited. It's eager to lend you money as long as you have good credit. Yeah, there's always a catch.

(If it helps, you have to have a credit score that is at least 640.)

Anyway, GlobeFunder can offer people $25,000 in unsecured loans, depending on your state's laws. They'll also soon be offering home equity and auto loans.

So I asked Ben Decio, the president and co-founder of GlobeFunder, what he thought about the current economy, and he is actually sounding very optimistic, not at all like an entrepreneur who thinks he started his company at the wrong time.

"The U.S. economy is still the engine that runs and drives the global economy," said Decio. "The past six months have shown how the economists were wrong that the emerging markets could stand alone. A slowdown is now global, not just here in the U.S. We are still by far the largest consumer of goods on a global scale. We will see a correction and most likely a slow, upward growth next year, and in the new few years to come."

Well, that's nice to hear.

Furthermore, Decio added, "The sky isn't falling, but the economy is taking a needed breather that may hurt some folks in the short run. Look at Blue Chip companies that are outside of the financial services or housing sectors -- they're still posting healthy profits and hitting their quarterly numbers. The U.S. economy, as it has so many times before, will adapt and come out stronger than before."

Geoff Williams is a business journalist, primarily for Entrepreneur.com, and the author of C.C. Pyle's Amazing Foot Race: The True Story of the 1928 Coast-to-Coast Run Across America (Rodale).
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