single policy that screws over entrepreneurs, artists, musicians, independent contractors, gig workers. pretty badly.https://twitter.com/realEstateTrent/status/1473043325125115911 …
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Replying to @DanielleFong
This is not even remotely close to true. The only obstacles to lending if you are an independent contractor is your track record and credit, and those absolutely exist for salary employees too.
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Replying to @seatripper1 @DanielleFong
And I say that as 1099 entrepreneur that makes bank and has zero difficulty managing LOCs for a business. If you have a shitty business model or are Googleable as a socialist hippie, no one is going to lend to you, but that's not about income structure. You are just a bad bet.
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Replying to @seatripper1
if you can show consistent revenue there are options, but it again is a major common problem for professional artists and musicians and i’m surprised you haven’t heard about it.
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Replying to @DanielleFong
Those are not normal lines of business, and frankly, not what are normally regarded as contractors. A business is about cash flow. Lending is about future cash flow.
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Replying to @seatripper1 @DanielleFong
Of course no bank wants to lend you money for your garage band. But they absolutely will lend money to your software company with a solid book of clients, which is the contractor most likely to pull half a million a year.
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