Week 8 Reading Reflection

The section that was most interesting and surprising to me in the reading was the highlight box about social lending sites on page 212. I had no idea there were such sites out there specifically designed for individuals to lend money to each other for new business ventures. I think this is a wonderful idea. Often, it can be very difficult to get a loan from the bank because it is ver hard to et them to believe in your idea. They may not see things they way you do or see the possible future implications of the project in the future. These social lending sites can get rid of this by providing the entrepreneur with many options around the world to gain finding for their business venture. This kind of reminds me of crowdfunding sites where charities can get donations from ordinary people. Crowdfunding sites have proven to be extremely popular among the public, so I think these social lending sites would do just as well. 

Something that was confusing to me in the reading was the "Trade Credit" term. The way it is explained in the book was pretty confusing to me. I would like to know exactly how the process works to get trade credit and what specifically it does for the entrepreneur. 

If I were to ask the author two questions, they would be 1) What does trade credit do for the entrepreneur specifically, and 2) What are some tips you would give an entrepreneur who is trying to convince the bank that they can safely loan him money for his business venture?

I didn't really disagree with the author on anything in the reading. I am a Journalism major, so these business terms and processes are sometimes a little confusing to me, however. Over all, I think the author did a good job in describing these processes. It seems like everything he is saying is straight facts about how this system works, so I agree with basically everything he said.