When I was a commercial loan officer for a large bank in San Francisco, my boss taught us that you should never make a loan to someone who is following his passion. For example, you don’t want to give money to a sports enthusiast who is starting a sports store to pursue his passion for all things sporty. That guy is a bad bet, passion and all. He’s in business for the wrong reason. My boss, who had been a commercial lender for over thirty years, said the best loan customer is one who has no passion whatsoever, just a desire to work hard at something that looks good on a spreadsheet.
