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Why is it okay to say that a white person didn't earn his or her success (“privilege”) but not okay to say a Jew didn't earn his or her success?Before you ask “why,” ask “if.”Privilege does not mean “you didn't earn your success.” That is not what people who talk about privilege are saying.A white person who is successful probably worked very hard for it. He had to struggle. He had to fight. It didn't come easy.Privilege means that he had to struggle a little bit less, and there were some things he didn't have to fight quite as hard for.For example, say you have two people, one white, one black. They both have an idea for a tech startup. They both have a great team. They both have the same education. They have both built a product that's getting traction and buzz. Now they both want a bank loan to expand.Odds are the white dude will get the bank loans a little bit faster and easier than the black guy.This does not mean the white guy is not working his ass off. It just means it's a little bit easier for him.Studies have shown that if you take a bank loan application, or a job application or a resume or a housing application, and fill out a bunch of copies of it that are word for word identical, with the only difference being that one has a “white sounding” name and one has a “black sounding” name, and you send out these absolutely totally identical applications to a bunch of places, over and over the ones with white-sounding names will consistently get more approvals or more offers than the ones with black-sounding names.That's privilege.It does not mean whites never work for their success; it just means that some things are easier.

Problem is that most loans taken by companies of Anil Ambani not by Anil Ambani. These loans are business loan not personal loan. Business loans are given to the businesses by evaluating their business prospective irrespective of their owner. There is no personal guarantee applicable to business loan unlike personal loan.Like common people take home loan or car loan. If common people fail to pay the loan than banks legally capture the home or flat or car. By selling it, bank recover loan dues. But banks does not comes to the person house to occupy his personal belongings like his wife's gold jewellery or his investment in share market etc. Because banks give loan agaist that house or car. But if the common man takes personal loan and he unable to pay it. Than situation would be different.Similarly Anil Ambani does not taken that Rs. 80,000 crores personal loan but it's business loan, which given agaist their companies. So banks cannot ask Anil Ambani to sell his house. Nor Anil Ambani will do it. Now a days many common people are not able to pay their home or car EMIs. I know many cab owners are not able to pay EMI due to lock down and work from home culture. But they are not paying the bank loan by selling their belongings like jewellery.Moral ground and law should be same for both rich and common people.

There’s good news and bad news here. The good news? Being a new business doesn’t automatically disqualify you from getting a loan. The bad news? Getting a bank loan when you’re brand new can be pretty tough.Bank loan applications require a lot of time and information. You’ll need to provide dozens of documents that may include:Personal background information such as previous addresses, names you have used, criminal record, and your education historyYour resume, because banks often want to know your experience related to running a business before taking a chance on youA business plan, including profit and loss statements, proof of cash flow, and the balance sheets from your businessA credit report from all three major consumer credit reporting agenciesPersonal and business tax returns for the past three yearsSigned personal financial statements (if you own more than a 20% stake in your company)Projected financial statementsPersonal and business bank statements for the past yearDocumentation of the cost or value of the personal or business property you would put up as collateral if necessaryLegal documents including business licenses and registrations required for you to conduct your business, articles of incorporation, copies of contracts you have with any third parties, franchise agreements, and commercial leasesThere are tons of myths surrounding startup loans, and unfortunately, they detract many people from even trying. However, there are more financing alternatives to bank loans than ever before, and startups now have far more options than they did in the past.