The Ramsey Show Highlights I Took Out $90,000 In Business Debt And It Didn't Work Out
Mar 26, 2026
Caller, a small business owner running a deck and carpentry company, sought help after taking $90,000 in short-term loans. They describe rapid revenue growth, using loans for marketing and sales, and facing unaffordable payments. The conversation covers predatory micro-advance lenders, why consolidation often fails, and hard strategies like intense booking, frugality, or default-and-negotiate to regain control.
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Borrowed $90K To Scale Then Hit Slow Season
- The caller borrowed $90,000 in short-term microloans to scale a deck and carpentry business and then hit a slow season that crushed cashflow.
- He spent money on marketing, home shows, and a salesperson but sales didn’t meet projections, leaving unaffordable weekly payments.
Owner Was The Real Growth Engine
- Dave points out the borrower was the business's growth engine, not the hired salesperson or marketing spend.
- The business grew from $250K to $450K in about 12 months largely because of the owner's effort, showing internal capacity matters more than outside fixes.
Expand Only With Profits Not Loans
- Avoid borrowing to expand; use business profits or reduce owner draws when preparing to grow.
- Next time expand with retained earnings or reinvested profits instead of taking on risky loans.