in bambuland, 80% of small businesses fail in the first 5 years. We were very wary lending money to people to start small businesses, especially when they were using their parents' homes as security.
I wasn't very popular...nothing new...because I used to explain to the parents very slowly, very carefully, and very clearly what would happen if their children's business was not successful and they could not repay the loan.
"This is a legal document. It says that if your children cannot repay the loan, maybe something happen and the business not good, ...the bank will sell your home, to get its money back...and you will have no home to live in...you understand?"
"No, no, no...we no want to do that".
Not good for bank business, but hey, I felt good.