Lenders invest in the individual operator, not the business idea
Cathy Hughes · Radio One: Cathy Hughes · Sep 26, 2016 · at 24:57
Cathy Hughes, founder of Radio One, explains how she secured financing from lenders to acquire distressed radio stations and turn them around.
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“Lenders don't invest in ideas. Everybody's got ideas. They invest in you. People loan money to the person, not to the business, not to the idea. They have to feel good about you.”
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