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Mark Cuban: Only Morons Start a Business on a Loan

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June 14 (Bloomberg) -- Entrepreneur Mark Cuban discusses the U.S. Economy and starting a business with Trish Regan at the Clinton Global Initiative in Chicago on Bloomberg Television's "Street Smart." (Source: Bloomberg) --Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg On Bloomberg Television's "Street Smart," hosts Trish Regan and Adam Johnson bring you the most important market news and analysis affecting the S&P 500, Dow Jones Industrial Average, and the Nasdaq for your last trade of today and first trade for tomorrow. Broadcasting daily from Bloomberg TV's headquarters in New York, this business news show centered around the closing bell on New York exchanges, is targeted to provide the best analysis of the day's leading market headlines with a mix of original reporting, earnings news and expert sourcing from Wall Street's sharpest options traders, equity strategists and company analysts. Trish Regan and Adam Johnson provide actionable insight on the capital markets daily with regular segments such as "Chart Attack," depicting likely market moves before they happen, and "Insight & Action" which explains original trading ideas that can make you money. In addition, "Street Smart" is filled with breaking news, political analysis, and market-moving interviews with exclusive guests such billionaire investor Carl Icahn, hedge fund titan Bill Ackman, automaker Elon Musk and more. "Street Smart" broadcasts at 3-5pm ET/12-2pm PT. For a complete compilation of Street Smart videos, visit: http://www.bloomberg.com/video/street-smart/ Watch "Street Smart" on TV, on the Bloomberg smartphone app, on the Bloomberg TV + iPad app or on the web: http://bloomberg.com/tv Bloomberg Television offers extensive coverage and analysis of international business news and stories of global importance. It is available in more than 310 million households worldwide and reaches the most affluent and influential viewers in terms of household income, asset value and education levels. With production hubs in London, New York and Hong Kong, the network provides 24-hour continuous coverage of the people, companies and ideas that move the markets.
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Text Comments (3848)
Moto Foto (3 days ago)
Come on Mark, no loan at all? Little Capital to Start? Can we get numbers? It took my 5k and thousands of hours to get Blueray restored and an other 5k I could pay for my supplies and labor to restore second one.
Chingkhiulung Gangmei (3 days ago)
He is the purest Moron
Mary Obasi (5 days ago)
Wow, So glad I stumbled across this video! Subscribed!!
Reza Younesi (8 days ago)
Is he serious?!!! Makes no sense what he says. How to start a business without capital
MrBobDug (12 days ago)
.... he said small business owner. Further, by loan he means for example an above 40k bank loan... what he means is that a loan won't make you successful or scalable. You need many other elements added into the formula...He has exaggerated the statement on purpose. That's why he's a billionaire, people are not even catching the play even though he spelled it out for them in the last sentence he spoke
MILWAUKEE WISCONSIN (12 days ago)
I tried to get a loan from the bank they shot me down. Now the same bank wants me to open a checking account and open a credit card 🤔🖕🏼
814chappy (14 days ago)
Typical liberal hypocrisy
King Czar (15 days ago)
Made 12k last month from a 60,000 loan
Nyufly35 (15 days ago)
If you're a small business owner who is at there wit's end, and your being denied by you're bank for the working capital you need for your business I can help you. I'm a certified independent business loan broker with 5+ years experience and partnerships with over 30 lenders. I can get you the working capital you need for your business. Just go to my website and fill out the questionnaire. US and Canada Only. Caldwellfinance.com
If you get approved, get that loan. Invest with other people's(banks) money whenever you can!! Fuck what this guy is talking about..
KRONOS Titan (17 days ago)
Does the name MOTLEY’s ring a bell?
Shair Khan (19 days ago)
I will borrow money Earn money Find investor I will start business
Me Tube (24 days ago)
I started my own business with only a dream and 12 million dollars from my parents.
Perla Fagot (25 days ago)
Love mark cuban
stezothewhitenegro (1 month ago)
I don't care how rich this Liberal Lunatic is he still looks like Lurch from the Adams family .  Hes probably knocking off children like the rest of the Freemason Devils he runs with .  Warren Buffet , Obamas , Clintons, The Bushes, etc etc.
Camui Hideaki (1 month ago)
Mark Cuban started his first business with a loan. WHAT A DUMBASS
WraithTime (1 month ago)
Well he just established he is a lucky moron lol, personal loan $15,000 on first business which got shut down for a minor being in a wet t-shirt contest there. Great guy but everything is circumstancial, not one person has all the right answers. What works for him will not work for everyone. Just a comment.. im a big M.C. fan btw.
Super Simp (1 month ago)
Every participant that goes on Shark Tank effective immediately, is now a moron. -Mark Cuban
Steven Clara (1 month ago)
Mark is wrong about the internet it just show he doesn't understand the potential of the internet
Raejean Montoute (1 month ago)
Fast forward to 2018, he was so wrong about the internet, video and going live.
Tony Montana (1 month ago)
Do what ever you need to do to start your business. Don’t listen to this ass clown. Mavericks SUCK btw
British Boxer (1 month ago)
wow, he started with a loan? his dad?
king piece (1 month ago)
That's only if they cannot pay it back
Edward van Grootel (1 month ago)
Mark Cuban is such an arrogant asshole. He is not an inventor/entrepreneur at all. He was just like many people at the right place at the right time.
Jacob Gibson (1 month ago)
Invest
Jacob Gibson (1 month ago)
Yaaaaaaaaqqqaaaas
Mike Mike (1 month ago)
Didnt President Trump get a million dollar loan to build a billion dollar business.. Now hes the president lmao
James Knox (1 month ago)
HE IS AN IDIOT. 'most small businesses do not fail because of lack of capital'? and ....'if you get a loan to start a business, you are an idiot' ?? This guy is out of touch
Josh P (1 month ago)
What a asshat
Water box (1 month ago)
Other people's money is a must! This guys is full of sh*t.
M P (1 month ago)
that's the most nothing advise I have ever heard.
Arlie Hopes y (1 month ago)
I got a personal automobile loan approved from my bank for a vehicle. I was going to use this vehicle for my business as a commercial driver. Only to find out I'm not allowed to do that with a personal loan. I have to obtain a business loan which for a startup who will be a sole proprietor is absolutely impossible to do. I've called 10 companies all over the country and they have all said the exact same thing "do you have your business set up already"? I said no I don't, I'm a start-up I want to start a business. well we can't loan you any money unless you've been in business for at least 2 years. Well if I've been in business already I probably wouldn't need a startup loan now would I? The last young lady I spoke to told me to get a loan from a family member or save up the $25,000 I need on my own. It's like the system is rigged to steer you one way or the other.
Ali Harb (2 months ago)
He started his business on a $15,000 loan to open a bar.
Frame of Mind (2 months ago)
He was living of credit cards when he started his business oh boy
BajaFist (2 months ago)
I used to think he was funny but maybe he just don't know, My parents just BARLEY scrape by every month. Literally 10 dollars in a 50 year old mans bank account and he works on Sundays and never takes a break. He is about to buy the cabinet store that he has been working at for 12 years and we need some type of money for that. How does he expect us to do anything? So what he is trying to say is don't even try you poor, dumb, retard I'm the best? That's all i get out of this video.
Clint S (2 months ago)
These guys are just about making bold statements. They don't care if they're right or wrong... Typical spotlight hungry businessmen.
B.J.F. van Groeningen (2 months ago)
Only morons do not understand - that when you come from a poor background, a loan can sometimes be the only chance to ever start a business and become self employed. But what is needed if the right mix of possibilities to ensure making at least the loan back. Pure economists call it the break even point. Well...based on that a businesswoman or - man needs to come up with the mix in where you can pay the loan back, and still live of the income after all costs are payed. This also needs vision and chance. And no single business owner build out his business without any forms of credits. No business owner ever made no mistakes either. So also in the mix should be the right person and personalities so call it the right character to run a business in responsible manner we call it a potential employee before the person started lol. Not everyone should start a business, but that is a very different thing than the title assumes. So sure call him a guru, I call it a dumb fuck.
Jamaal McCoy (2 months ago)
Whatever you do, just be smart about it.
Juan Carbutt (2 months ago)
I started my business on a loan. And I'll admit it, he's right.
Parker (2 months ago)
Oh really I don't need to take out a loan so how am I going to get the $350,000 that is absolutely not avoidable for my business? Let me phone a friend oh wait I already tried they don't have that either and they would want half partnership or more thank you Mark Cuban you're the best
JJ G (2 months ago)
What an idiot
Matt Vliet (2 months ago)
What
Tariq Freitekh (2 months ago)
Idiot. Absolutely a big idiot. I suffered and struggled so much and worked days and many nights. Did not go out except once or twice a month for coffee and couldn't find a way out except after I took a 200k loan. Yes that's 200,000 dollars from family and friends and banks. I started a business that I knew well (I was employed in that field) and I paid back my 200k in 2 years. I am my own hero. Screw Cuban. You guys can do it too. Just go for it like I did. I was scared as hell but I did it.
James Mason (2 months ago)
So sick of Cuban he got rich selling a internet sports radio show to Yahoo!. It ended up completely failing. He pretty much won the lottery. Remember when he tried to scare anyone from voting for trump by saying the stock market will definitely crash if he wins. He is a fucking idiot
Gerald J Walls (2 months ago)
Mark Cuban Everybody Does Like to Lie Cheat and Steal like you Trish Regan You are taking advice From a Con Artist He Probably didn't even By the Clothes on his Back
tim gong (2 months ago)
Mark is stupud
Paul Albert (2 months ago)
Didn't Cuban start his business on a loan ?
Alden Buyer (2 months ago)
Imagine how stupid Mark would feel if a company as big as Walmart was started with a loan. Oh right, Walmart *was* started with a loan. Now the Walton's collective wealth makes Cuban look like a welfare recipient.
Juan Sanchez (2 months ago)
not true, many million dollar co. started by ... borrowing.
Juan Sanchez (2 months ago)
cmon Cuban
Fernando Martinez (2 months ago)
Thats what he did and doesnt want you to have the same success so he says dont do it.
Gary Gagnon (3 months ago)
Innovation cream cream Highest science in Manufacturing I am great I was attacked while I worked I caught them ? What and how can I get capital I need without Mark must have a steak in GE thats work I can do I can make proven so They attacked ME 100% I have a value I am strongest In R&D no start up cash ?Banks will work against you And ? we get our cash from other Businesses ? I know there's a skills shortage I have brains advanced equipment.With Mark working 25 hours a day to kick my ASS ? Hows anyone ever going to start a business ?
ron troy (3 months ago)
I know its not alot but i made $45,000 last year before taxes without a loan. im saving to open a shop like my xfriend. im thinking outside the box to triple my profits. Yes im scared to go forward but if i dont try now i might regret it later
Ryan Huncho (3 months ago)
I knocked on doors for 4 hours a day even during winter. I made 100k in 6 months
SkankHunt42 (3 months ago)
Mark Cuban is a moron. He started a business on a loan.
aviv s (3 months ago)
never take loans
Nathan c (3 months ago)
Depends on the business. Leveraging is powerful for certain businesses.
Returns On Investment (3 months ago)
"Only Morons Start a Business on a Loan" - I totally agree! Only people with above average in terms of smartness would understand his comment, while the rest of you can disagree and pay high interest on your loan.
Kyle Swartz (3 months ago)
"the internet was designed for anything but video" ....2018 is laughing at this guy (YouTube, Netlfix, Twitch...)
Hashan Sampath (3 months ago)
Didn't Jack Ma start out with a loan
FinanzFerdinand (3 months ago)
She can sit on my face
dave0z96 (3 months ago)
Mark Cuban is clearly out of touch with reality.
Callum Tait (3 months ago)
Is anyone here from transcribeMe?
William James Rapp (3 months ago)
Not everyone can have nothing at all but a fantastic business idea and expect to KNOW EVERYONE IN THE INDUSTRY -- let alone know where all the money people are who are willing to invest. Not everyone grows up in a family of money or a family of connections. SOme people are actually doing everything they can to get out of the part of the country where NO MONEY FLOWS WERE RICH PEOPLE PINCH EVERY MARK FRANK YEN POUND OR RED CENT THAT THEY HAVE and they arent willing to help other. Hell, IM DIVORCED -- but my home is 100% paid off, My Car is 100% Paid Off, My Bills are 100% Paid off and I still cant get a loan of any kind let alone get a loan to start a business. Some of us have to do what we have to do. SOrry we are soooo stupid.
YogaFlameTV (4 months ago)
People Didn’t read the title.. it says “start” start up, not a existing business like most comments lol
Deepa Maisuria (4 months ago)
As a professional business valuator the #1 thing we know is that the cost of debt is cheaper than the cost of equity. People should vested in their business and use their own money to get started, but once your business has traction and can generate cash flow then get debt financing...don't give away equity from your business! Get a loan from a friend if you need funds, because in the long run giving away equity will affect how much return you get when you go to sell your business.
Levi Lemon (4 months ago)
Wow, you can start 99% of business's without a loan??? I picked the wrong industry.
The Transducer (4 months ago)
Here's what you do. Go to a business broker and ask them to help you buy a business. Get a loan from an alternative lender. Have the broker do the work for you. Run your business like a boss and pay off that loan, then sell the business. Move on.
Ehimwenma Eweka (4 months ago)
Starting a business without a loan can be done! I believe that Mark should have framed his point in a better way or at the least clarify with examples of the types of businesses that do not require loans/capitals to initiate. That statement was very insulting to many business owners out there who had to borrow to make their dreams come true and it is a half true statement. There are lots of people in here who have the right ideas of acquiring that upfront start-up fund through personal savings, equity or through partnership (hopefully they don't screw you over in the process). The question is, what type of business are you looking to start? Some businesses require you to have a form of a capital, large or small (franchises or small barbershops, a small daycare); while other simply require ideas and effort to bring them to life (i.e Eric Nicksdaddy's Nusery plants business or mowing lawns with your own lawn mowers you've already had for your own home or snow removal business with your own snow machine that you bought for your home. Cheers!
Michaela Jones (4 months ago)
I don't believe this to be true, sometimes all you need is a way to get started. If you have a great idea the loan will pay off itself...
Isaac Thomas (4 months ago)
So thank you for your advice And So Love your business friend and your business Allie for sure big time too as well Isaac Thomas!!!!!!!!!!!!!!!!!!!!!!!!!
Isaac Thomas (4 months ago)
I got a powerful business idea and business plan's
Bruno Koegler (4 months ago)
mark cuban was very lucky and skilled somewhat too, sadly now as often and most of his peers, he too became too arrogant and blind, otherwise he would have taken the deal before amazon and make 25 000 % (yes 25 THOUSAND % ) in a mere of 4 years and adding an unicorn or maybe soon a decacorn (only 16 in the world) to his list of successes :)
elitehax (4 months ago)
Fuck this dumbass, do what works for you. If it beats signing your company away to a VC then so be it.
380stroker (4 months ago)
Many people use drug money to obtain capital. Then eventually build from that.
LordGalenOfSnipeMe (4 months ago)
Does Mark Cuban think money just falls out of thin air? Drive, determination, hard work, etc. don't buy store fronts, equipment, inventory, etc. and it damn sure doesn't pay employees, insurance, utilities, repairs, etc. You can have all the hard work in the world, but if you're dead broke, you're not starting a business.
Jay Lee (4 months ago)
Mark Cuban... my mentor in my head lol
Williams Smith (4 months ago)
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KP guitarzan (4 months ago)
Mark is a cocky and arrogant fk as well.
William Chapman (4 months ago)
yes your right but lets think about this in 09 Obama said to the entire world we have to spend our way out of debt so in 12 ppl voted for him again so go figure
Justin Quinn (4 months ago)
The irony because he started his bar in college on a loan.
Matthew Harrison (4 months ago)
Private Equity is for people who don't believe in themselves.
Somphoth Siratsamy (4 months ago)
Bus 101 bravo
The Sheikhi Family (4 months ago)
very funny... Bill Gates.. is NO.1......
M L (4 months ago)
True words
bupe Chikumbi (4 months ago)
This saved my life
Lawn Man (4 months ago)
Bullshit. If your business plan is solid, market is there, and you have the devotion then by all means take a small business loan. I grew my company with one. This guy has billions and forgot what it's like climbing your way up!
Michael BATMAN Keaton (4 months ago)
Just fix your credit and have the same amount your asking for saved up so if there's a problem you could cover it or if u do get the loan figure out what ur monthly payments would be and save a year's worth of monthly loan payments he's right it can be done but it's a game a chess
TheCurryKingGaming (4 months ago)
I love this mans attitude toward business
scotthebruce2 (4 months ago)
Mark Cuban says some of the stupidest shit ever for a billionaire. Just goes to show...
Ford On 5th Cigars (4 months ago)
Very true loans are rough.
Miles Moore (4 months ago)
the only thing I can see that is fatter then Cuban mouth, is his head.
Fast and Fluent (4 months ago)
I know a billionaire who started off with $ 5.000,00 loan just about 17 years ago. Today, everything he touches turns into gold. For your information, he attends for the name of Flavio Augusto and he owns Orlando City football team besides other major businesses. Good luck raising capital for your business idea without borrowing it.
215WEApON (4 months ago)
Guess the president who worth billions is a moron. You’re a moron Mark.
This man has capital to flip all day long. Its very unlikely he could relate to bottom up business.
Bob Loblaw (5 months ago)
Borrowing money =/= a loan. Jesus you guys are slow.
Joel Mil (5 months ago)
Just don’t take loans with high interest if your ROI is low.
Joel Mil (5 months ago)
And unless you are desperate to keep the business running for a very short time, don’t use a credit card to cover for expenses.
jafling (5 months ago)
Says the rich guy in the pocket of big tv business.
Josue Martinez (5 months ago)
If Im Mark, I would start a Messaging App company !! Mark has the money so go for it !!! duh !!!!!
Josue Martinez (5 months ago)
Trump started on a family loan....

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