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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 (3873)
Water box (1 day ago)
Other people's money is a must! This guys is full of sh*t.
M P (4 days ago)
that's the most nothing advise I have ever heard.
Arlie Hopes y (5 days 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 (6 days ago)
He started his business on a $15,000 loan to open a bar.
FrameTUBE (7 days ago)
He was living of credit cards when he started his business oh boy
BajaFist (7 days 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 (8 days 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 (9 days 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 (11 days ago)
Whatever you do, just be smart about it.
Juan Carbutt (16 days ago)
I started my business on a loan. And I'll admit it, he's right.
Parker (20 days 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 (22 days ago)
What an idiot
Matt Vliet (23 days ago)
What
Tariq Freitekh (24 days 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 (25 days 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 (27 days 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 (27 days ago)
Mark is stupud
Paul Albert (28 days ago)
Didn't Cuban start his business on a loan ?
Alden Buyer (29 days 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 (1 month ago)
not true, many million dollar co. started by ... borrowing.
Juan Sanchez (1 month ago)
cmon Cuban
Fernando Martinez (1 month ago)
Thats what he did and doesnt want you to have the same success so he says dont do it.
Gary Gagnon (1 month 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 (1 month 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 (1 month ago)
I knocked on doors for 4 hours a day even during winter. I made 100k in 6 months
SkankHunt42 (1 month ago)
Mark Cuban is a moron. He started a business on a loan.
DJI Mavic (1 month ago)
Bit Con neeeeeect! Wassssssaa wassssaaa wassssaaa aaaaapppp
aviv s (1 month ago)
never take loans
Nathan c (1 month ago)
Depends on the business. Leveraging is powerful for certain businesses.
Returns On Investment (1 month 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 (1 month ago)
"the internet was designed for anything but video" ....2018 is laughing at this guy (YouTube, Netlfix, Twitch...)
Hashan Sampath (1 month ago)
Didn't Jack Ma start out with a loan
FinanzFerdinand (1 month ago)
She can sit on my face
dave0z96 (1 month ago)
Mark Cuban is clearly out of touch with reality.
Brookham Digital (2 months ago)
Is anyone here from transcribeMe?
William James Rapp (2 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 (2 months ago)
People Didn’t read the title.. it says “start” start up, not a existing business like most comments lol
Deepa Maisuria (2 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 (2 months ago)
Wow, you can start 99% of business's without a loan??? I picked the wrong industry.
The Transducer (2 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 (2 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 (2 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 (2 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 (2 months ago)
I got a powerful business idea and business plan's
Bruno Koegler (2 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 (2 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 (2 months ago)
Many people use drug money to obtain capital. Then eventually build from that.
LordGalenOfSnipeMe (2 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 (2 months ago)
Mark Cuban... my mentor in my head lol
Williams Smith (2 months ago)
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KP guitarzan (2 months ago)
Mark is a cocky and arrogant fk as well.
William Chapman (2 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 (2 months ago)
The irony because he started his bar in college on a loan.
Matthew Harrison (2 months ago)
Private Equity is for people who don't believe in themselves.
Somphoth Siratsamy (2 months ago)
Bus 101 bravo
The Sheikhi Family (2 months ago)
very funny... Bill Gates.. is NO.1......
M L (3 months ago)
True words
bupe Chikumbi (3 months ago)
This saved my life
Lawn Man (3 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 (3 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 (3 months ago)
I love this mans attitude toward business
scotthebruce2 (3 months ago)
Mark Cuban says some of the stupidest shit ever for a billionaire. Just goes to show...
Ford On 5th Cigars (3 months ago)
Very true loans are rough.
Miles Moore (3 months ago)
the only thing I can see that is fatter then Cuban mouth, is his head.
Fast and Fluent (3 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 (3 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 (3 months ago)
Borrowing money =/= a loan. Jesus you guys are slow.
Joel Mil (3 months ago)
Just don’t take loans with high interest if your ROI is low.
Joel Mil (3 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 (3 months ago)
Says the rich guy in the pocket of big tv business.
Josue Martinez (3 months ago)
If Im Mark, I would start a Messaging App company !! Mark has the money so go for it !!! duh !!!!!
Josue Martinez (3 months ago)
Trump started on a family loan....
Mark C (3 months ago)
This so stupid so waiit to save 200 grand before u buy a business this makes no sense. I would say 99 percent of business take out some kinda of loan for there business. I own 2 that are now paid off but I had 2 loans. Bad advice Mark sorry.
R. Ive (3 months ago)
This bastard has Frankensteinitis face. Ugly AF.
Jesus Castro (3 months ago)
What a moron how u get cash for a business...???..robbing the bank?...😂😂😂😂
Mister Hamlicrazy123 (3 months ago)
....is it still okay to get a small loan of a million dollars?
Brvo Lifestyle (3 months ago)
“The internet was designed for everything but video” except for now it’s 2018 and everything is the internet even video lol what’s tv?
Edward A (3 months ago)
Perhaps Mark Cuban forgot about the $15,000 he got for his first business I believe it was from an individual for a bar.
Erik Astanov (3 months ago)
If you can get a loan on lower APR 6% than the ROI your cash is making 10%, why not? Marc Cuban is an arrogant idiot
Trevor (3 months ago)
Too bad there is live broadcasting on the internet...
Smart MMA (3 months ago)
YouTube has livestreams dummy
Robert Lee James Welch (3 months ago)
Depends on the business.
Gavin Hu (3 months ago)
"I don't have money" then says getting a loan makes you a moron
Launch Pad (3 months ago)
Yeah, only a moron takes a million dollars and multiplies it by 3,000 times along with winning the White House.
Chase _c (3 months ago)
We love mark, he could run for president id vote for him, but he has used borrowed capital to start several business beginning with the bar. thats like lebron james telling someone to focus strictly on 3 pointers because dunks are for morons
LoneRanger2000 (3 months ago)
He is so full of himself. His advice is aimed to make you feel inferior. FUCK YOU CUBAN.
Priscilla Udave (3 months ago)
Hes absolutely right!
Charles Roach (3 months ago)
Is Mark the guy on that show that gives loans to help people start there business or give them more capital? Bank or family you still have to pay it back. A loan is a loan no matter where its coming from.
Hawk Who Knows All (3 months ago)
MORONS Who will never be BUSINESSMEN and Are only Have a BRAIN of WORKER cannot be LEADER..........Those are the One Who Shouldnt even START a BUSINESS.
desi derata (3 months ago)
If Cuban is like Allison, perhaps his arrogance  and elitism, could be somehow justified.
desi derata (3 months ago)
If Mark Cuban forgot that he took money in the form of loan, forgive him. He is just too arrogant to treat others as lesser mortals. His arrogance will undo him.
nefnm (3 months ago)
Arrogant A$$
Sydney Sativa (3 months ago)
lol how the fuck am i suppose to feed myself and pay rent/morage while doing all this work to start up a business ... dont need capital my ass !
SpearHead (3 months ago)
So everyone that goes on shark tank is a moron cause they are all looking for loans.
lightning (3 months ago)
I read it as "mormons" and clicked, though that mark phase shifted into a savage for a second.
eddie monica (3 months ago)
I'm guessing he's lending money?? What a schmuck....
Talk Radio Jaspal Singh (3 months ago)
I have to agree. If you are not well funded businessman possibility is business will eat you.
Steven Chutuk (4 months ago)
what if you want to open up a Franchise ? No Loan ? come on... really?
Topwater_Dan (4 months ago)
He's a venture capitalist of course he wants to lure people away from loans.
Paul Rugarber (4 months ago)
It only makes sense! You are risking enough already, be prepared!

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