I had no money to fund my enterprise venture. Found someone that believed in it enough to lend me money with the promise I would pay it back. I couldn’t pay it back so they “took” my company.
How are the lenders the bad guys? What are they supposed to do?
But you take a risk simply by deciding to "invest" your labor in a venture too. And if the venture fails, in almost all cases, those who chose to provide labor instead of capital find themselves much worse off, practically speaking, than those who can spread their investments around and amortize risk.
It's not that the lenders are bad guys, it's that they are participants in a bad system that provides preferential treatment to capital versus labor.
The thing is, lenders are free to decide on terms, and whether to issue a loan at all. Part of their actuarial calculation must include some rate of default, because otherwise there would now downside to lending anyone anything. We may end up in an unprecedented time thanks to the virus and our policy decisions about it, but that's all part of the risk lenders take, and they (are supposed to) factor that into the rates they offer. I will bad for them, I suppose, if there is mass scale defaulting, but I see no reason to preference them over anybody else who makes the choice to participate in a loan-driven venture.