Advantage of taking loan to start a business.

[kayode10]

Loan make it pretty much easier for you to start the business on the fast track. When you are able to secure a loan, it is more easier for you to acquire the necessary things for the business.

 

[Kvngsammy]

Except you're really sure of what you're doing, I'm not sure I'll advise to take a loan for starting any business. Though on the flip side, taking a loan would help grow your business faster and allow you to reach where you haven't before

 

[Kaffyfolla]

Taken loan to start business is not welcome in my own side, if you want to start business, you suppose to be able to use your personal savings to start then up you now add loan to it

 

[Shigobad20201]

Taking a loan is not always the best as it puts pressure on the business, but sometimes we've got no choice, be very sure the business will bring returns before taking the loan though to avoid high blood pressure.

The only loan I can take to start a new business is getting a loan from a cooperate society or getting a loan from friend with no charges or less charges, getting a loan from a loan shark is out of it because the increment will destroy the business.

 

[Ghost1]

Loan should be the last option to source for money for ones business. Apart from it'll enable one to do the business one wishes to I don't see too much advantage

 

[Snazzy001]

The loan can adult your capital and become a good amount and sufficient enough to start and run your business and this sounds relieving but all the same

 

[tuna89]

I am yet to see any advantages in accessing loans for business, I hate a situation where I start to service the loans with my profits or earnings.

 

[Alexandoy]

Except you're really sure of what you're doing, I'm not sure I'll advise to take a loan for starting any business. Though on the flip side, taking a loan would help grow your business faster and allow you to reach where you haven't before

The loan can definitely help in the growth of the business but that is when the business is already established. For a start up the loan payment will be an added expense that can harm the cash flow. It is best to be free of debt when you are making a start up.

 

[Skysaint]

For me there is no advantage for taking up loans for business startup, if you start up a business with your own hard earned money why won't you be serious and committed. Starting up a business with loans doesn't make you serious but afraid, not committed but actually biased

 

[Ezekiel]

One thing I hate the most is putting is debt,wheather through loan or anyother,so I do not see anything with advantage in getting loan, because latter you will still need to pay back

 

[Richard92]

Loan can be advantageous. I have seen a lot of people succeed in business through a bank loan. For a business that s functioning well, loan is a boon.

One advantage of taking loan to start a business is it makes your business process fast and you can be able to put all infrastructure in place that you need for your business.

 

[Cee C Chriss]

To be frank I am against getting a loan for starting up a business. If a close friend or relative is in that position I would probably help by giving a donation but not lending money. A borrowed money is putting a pressure on yourself even before the business has started. That will be an interference in the operation of the business.

 

[kayode10]

Loan will help to put your business on fast track. it makes it pretty much easier for you to do the procurement of the necessary things on time.

 

[Shigobad20201]

Loan should be the last option to source for money for ones business. Apart from it'll enable one to do the business one wishes to I don't see too much advantage

taking loan should be the last resort in business start up, I beleieve you must have exhausted your options before deciding on going for loan because its not adviseable to start a business with a loan.

 

[Ezekiel]

One of the advantage of taking loan to start a business is that you will concerntrate more than if it was a mere money,since it is not your money

 

[Immilash]

there are many advantages of taking a loan to start a business ,sometimes you may asked someone to loan you money but refuse ,maybe he or she is not in sopourt of the business you are going into ,so when you take a loan it helps you

 

[Oliver4smile]

I don't see any advantage in taking a loan for a start up of the business. The owner is already saddled with pressure that is the monthly installment of the loan especially if the money was borrowed from independent lenders with usurious interest rate. So far, I don't see any good that a loan will bring to the business.

I understand your point but let's look at this from another angle, what if the business is the type that render services to people and get paid for such. What I means is if you are a taxi driver, a commercial bike rider, or you are running a phone charging center etc. I think getting a loan for such business is not a totally bad idea but still one must be careful of extravagant interests like you indicated.

 

[Good-Person]

Well, the only advantage of taking loans is that you may not really need to sell your assets in order to gain capital for investments. However, this advantage only counts IF you gain success after taking loans for your business.

 

[Ralphjoe]

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.

Taking a loan to start up a business will definitely accelerate the level at which you will be able to start up that business because you will definitely get the huge amount of money that you are looking for to start up your business.

 

[Setho]

If you want to take up a loan to start a business then you can be sure of getting almost enough and adequate funding to cater for all three things that you need and you might not settle for less.