Advantage of taking loan to start a business.

[jay]

Taking loan to start your business would help you, especially when people are not willing to support you and you are sure of the prospects of the business.

That is actually the major advantage of getting a financial bank loan to start your business because it is going to be the only financial support that you will get to start the business.

 

[kayode10]

A loan will make it pretty much easier for you to acquire all the necessary materials to start the business on time. It is good to acquire loan for a business you have experience with.

 

[Hrtbeat]

The only important aspect of stating a business with loan is that finally, your dream business has been set up. Apart from that, Startup loans naturally come with a repayment obligation. As you repay heftily to the bank every month, you will be left with little cash to reinvest in your business growth.

 

[greenie]

Taking loan to start a business has advantages and disadvantages though to me the advantages are more if one is very lucky , it make you to be more committed, serious and financially disciplined but before taking loan we should ensure the business is very lucrative, tried and tested.

 

[mayumi97]

The biggest advantage I'm seeing is that you get to start a potentially profitable business even without your own funds. Some business ideas are worth it. Come to think of it, if you borrow money and spend it on a well-planned business venture that can deliver relatively quick results, you can save on interests by opting for short-term non-collateral loans. That said, it's not good to rely on loans to support ventures that are, at best, speculative.

 

[Shigobad20201]

The only important aspect of stating a business with loan is that finally, your dream business has been set up. Apart from that, Startup loans naturally come with a repayment obligation. As you repay heftily to the bank every month, you will be left with little cash to reinvest in your business growth.

The only advantage of using a loan to start a business is just to make your dream comes true of becoming a business owner but the disadvantage is that it will affect your business when its time to start paying,

 

[Heatman]

Taking loan to start a business has advantages and disadvantages though to me the advantages are more if one is very lucky , it make you to be more committed, serious and financially disciplined but before taking loan we should ensure the business is very lucrative, tried and tested.

The only advantage that I see someone can get by having access to financial loan to start a business is that the money to run the business is already available for him or her to make use of.

 

[jay]

A lot of people actually like the capital to start of their business which is why they are left with the only option to get financial loan to start their business but without the necessary collateral day and not going to be able to get the loan from the bank.

 

[Shigobad20201]

Because of the high rate of unemployment in the country , people have skills and business orientation but dont have capital to fund the business , that's why they resort to getting loan,

A lot of people actually like the capital to start of their business which is why they are left with the only option to get financial loan to start their business but without the necessary collateral day and not going to be able to get the loan from the bank.

 

[ahmedo24]

Capital is actually a big challenge for lots of people that wish to start new business though personally I believe that it is good to have different business ideas ranging from less expensive ones to more expensive then you start from the less expensive.

 

[kayode10]

A loan will give you a quick jump start in the business. you will never have to think of how to respond again since you have enough cash to get started. But you have to be very careful with the loan as it can also be the cause of downfall for the business if you don't manage it properly.

 

[Grandeur]

My personal views though... I realize that I plan more on money that didn't really come out of my pocket which is why I agree with you that getting a loan makes one think fast on how to repay.

 

[Heatman]

Taking loan to start a business has advantages and disadvantages though to me the advantages are more if one is very lucky , it make you to be more committed, serious and financially disciplined but before taking loan we should ensure the business is very lucrative, tried and tested.

Definitely when you take a bank or financial loan to start your business it will always make the money to run the business available for you all the time which means that you don't really have to struggle on that part.

 

[ahmedo24]

Definitely when you take a bank or financial loan to start your business it will always make the money to run the business available for you all the time which means that you don't really have to struggle on that part.

That is if you're being prudent and you're going to manage your business to a greater extent such that you're able to break even in a very short time otherwise it is very difficult to all real for businesses to survive on loan rather businesses survive on loan when the undergoing expansion.

 

[Heatman]

Taking loan to start a business has advantages and disadvantages though to me the advantages are more if one is very lucky , it make you to be more committed, serious and financially disciplined but before taking loan we should ensure the business is very lucrative, tried and tested.

If you'll eventually have access to the love that you can use to start your business remains that you don't have anything to worry about the financial requirements that is needed for the business.

 

[ahmedo24]

If you'll eventually have access to the love that you can use to start your business remains that you don't have anything to worry about the financial requirements that is needed for the business.

Offcourse, if loan becomes the last option and the interest percentage is not too high , then the risk will be worthwhile but you must.be extra careful to ensure you don't fail in the business.

 

[Shigobad20201]

Taking a loan to start a business in not advisable most especially if you don't have the necessary resources of returning the borrow money within the stipulated period of time.

 

[tyrim88]

The benefits of obtaining a loan to start up a business is very enormous,it can help to boost your business and financial standing to a level you will be able to finance any prospect you have in the business,and also if managed very well,you can use it for various expansion.

 

[Sincerem]

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.

Notwithstanding the pressure on your business but is also a way for business owners who doesn't have capital nor don't have enough to successfully Operate their business can get more funds and kick start their business.

 

[Shigobad20201]

I have never seen the advantage in taking loan to start a business, Because starting a business with a loan most of the time leads to frustration and mostly affect the business negatively.