Advantage of taking loan to start a business.

[Kingstone]

It's not always easy to start a business with a loan. The pressure and the task of earning profit immediately will be the owner's main concern. Unless the owner can manage it well, it is not that bad

 

[Yusuf1]

For me I don't think it's really good to take a loan to setup a business. Why I said this is because of the fact that if the loan is about to get expanded there won't be any money to expand it because of the repayment plan of the loan

 

[Bousine123]

We are fully aware that starting a business with loan is most times unproductive because of the interest rate or have difficulty to break even at the right time. Despite these disadvantages there are still advantages like it make you to be more serious and committed and it build your financial discipline. Share your thoughts.

Depending on your county of residence, you should be aware that interest rates are currently not friendly. I'll advice anyone to try as much as they can to stay away from loans.

 

[akinlolu99]

I don't see any advantage in taking a loan to start a business except the type of business you want to start is the business is going to be in large-scale and that kind of business you need investors, instead of going to borrow look for an investor like I said or better still go to family members and friends and communicate to them about the idea you have you never can.

 

[Setho]

The major advantage of taking a loan to start a business is the fact that you will be able to get access to a large amount of money that ordinarily you will not get in other places.

 

[ahmedo24]

The major advantage of taking a loan to start a business is the fact that you will be able to get access to a large amount of money that ordinarily you will not get in other places.

That's correct but the challenges your ability to pay back but honestly if you are doing well in your business already and you're able to take loan from financial institutions that don't charge much interest it is easily makes your business to grow as fast as possible.

 

[Setfragil]

The advantage of taking a loan to start a business is that it makes you to be able to achieve your business dream without having capital to fund the business.

 

[Nurudeen]

It's really bad to take a loan to setup a business. For now I think if one take a loan the repayment system and interest rate that will come with the loan can eventually make the business die in the long run

 

[Grandeur]

Often times, financial experts would advise that when going for a loan, you should go for one that you can actually use well, borrow more than you need incase of unforseen circumstances and you just might start off your new business.

 

[gammarays]

The only condition I will encourage a business owner to take a loan is only if he wants to expand an existing business. The business is already successful and needs expansion.

 

[skyliequiz]

For entrepreneurs, a company loan is quite beneficial. If you're having financial difficulties in your current business, want to expand it with more working capital, or perhaps want to start a small firm, a business loan will undoubtedly be useful and advantageous to you.

 

[Dagm1]

You in no way recognize whether or not your enterprise will be triumphant or fail earlier than you begin it. If you've got got an idea, competencies and know-how however no finances to begin a enterprise, financial institution mortgage is a awesome manner to get started.

 

[Mayox25]

Advantage of obtaining loans to start a business is when you don't have capital of your own to start a business then you take advantage of the availablity of loans

 

[Ceeny007]

It's very risky for a new business because it might be difficult to break even and the bank will be breathing down your neck

 

[kayode10]

One of the advantages is that it gives you a quick head start on the business.it can be very hard to raise capital for your business unless you have somebody you can give you a house loan to start quickly.

 

[Heatman]

We are fully aware that starting a business with loan is most times unproductive because of the interest rate or have difficulty to break even at the right time. Despite these disadvantages there are still advantages like it make you to be more serious and committed and it build your financial discipline. Share your thoughts.

Seriously, as far as I'm concerned, the only thing that I can call an advantage of taking bank loans to start a business is being able to have cash available for your business.

 

[Josephjossy]

I will advise anybody that want to take a loan to start a business to be careful before taking the loan make sure that you are invested it or production so you will be able to make more money and send back the loans you borrowed you don't invest or consumption

 

[Hena101]

Even though i didn't see any advantage in taking a loan to start business but the only thing there is it give you chance to start even when you van not source the capital yourself

 

[Heatman]

Business with loan is simple, most of the people do that, even established business needs loan and they pay with interest.. Without loan a Business is not imaginable. However Business have to be successful to payback loan with interest.

Seriously, when it comes to new businesses, getting a loan to start it never goes well for the business. It's far more better to get a loan to support a business than starting it.

 

[ahmedo24]

Only grants from government can help new businesses to thrive that is if the beneficiaries are serious and committed to running their business as planned because some citizens aren't reliable and serious.