Did anyone give you a cash loan to start your business or career?

[joy101]

Well I got Money from my family members,it was a better option to getting a loan from the bank because I wasn't sure as to when I'll be able to pay it back

Is better to save money before planning on how to start business instead of taking a loan from because for me I don't really like to take a loan when starting up a business, because for I don't really welcome the idea.

 

[tyrim88]

I understand your point. Those are the kind of friends you should keep close. Such vital financial assistance are mostly interest free as compared to the ones from banks who will always charge high rates of interest.

That is why they say, good friends are as valuable like an asset that cannot be priced,those assistance really helped my business to come up to some level,and i have been very grateful to them ever since that period.

 

[Treborika]

No and nothing like that can happen in my life.I am not that lucky for anyone be it a family member, relative, friend or even a well wisher that can support me with their support either financial or something.
As far as my personality is concerned, I happen to be like a person that have money and capabilities that probably can lend other needy people. But in the real situation that is not the case.

 

[eenya001]

i would not advise anyone to take a cash loan when starting out a business, it is not needed. the only time you should consider taking a loan is only when you aim to expand the business and not when you are starting the business.

 

[Chibson]

No! When I started my poultry farm I used my savings to start it. Although it crashed at some point due to selling on credit to customers it was painful but I was glad it wasn't loan incurred.

This is exactly what I want to do also because I have an interest in starting a poultry farm and I will be using my savings to start it. I don't like to take loan from people because anything can go wrong with the business and I will go into debt

 

[Smiles20]

It is very unfortunate because I had to save and also work for all the money that I used in order to start my business. This is why I always try to help people with every chance I get.

 

[Robust]

Actually talking about giving money before starting your career I can say yes because my parents actually contribute to my schooling by paying my school fees and also giving me pocket money in order to get a good career.

 

[Bethel Victor]

I have had so many physical businesses in mind, but there not been enough cash to start up, though I have successfully sited a shawarma spot, but I didn't get it to the standard I want because of cash. Getting a loan may not easy as most banks ask for high interest, which would make the loan difficult to be paid back.
The best option for me is getting a grand, but it's also difficult to access

 

[Setho]

I was very lucky to have made some money from people who had trusted me and we're willing to invest in me. I was able to gather around $200 from donations.

 

[Shigobad20201]

I have had so many physical businesses in mind, but there not been enough cash to start up, though I have successfully sited a shawarma spot, but I didn't get it to the standard I want because of cash. Getting a loan may not easy as most banks ask for high interest, which would make the loan difficult to be paid back.
The best option for me is getting a grand, but it's also difficult to access

If I have my way and also have enough amount of money to start my dream business , I have at least three to four business in mind but currently , I can only do just one .

 

[Smiles20]

Securing cash loans around here is an uphill task especially as someone without collateral or an existing business. I have had to rely on my savings and family to kick start

 

[Setho]

This was something that I tried to explain but then they did not give me because I was not having a suitable guarantor or one of the collateral listed so I had to use my savings.

 

[Chibson]

I am currently planning to use my savings to start a business if I want to venture. using a loan to start a business will actually not sit well with me because anything can go wrong the business.

 

[Popular]

No one has loaned me money for my business, I avoided that at all cost so it doesn't become a hobby to me. So each money I used to invest is gotten from my savings from hard work.

 

[tyrim88]

I once received a loan for my business but I would strongly advise that it is not good to take loan to start up a business because the business might end up crashing at the end of the day if you're unable to make the payment.

That is what i always advice busineses that are just starting up,because if you are starting up with a loan,the pressure will be too much on the business,and then the owner of the business have not properlly mastered the cash flow very well.

 

[Robust]

Nobody has given me any loan or money to start any business of my own, though I prefer doing an investment than business. So I do supouse my investment on my own with out any ones help.

 

[Syldan]

Actually taking loans to start a business is a total disaster sometimes and sometimes it may work out good. like making you hardworking in othet to settle the Bill's on you.

 

[Danny4cash]

Nobody borrow me money to start a business whether online or offline. I have to worked for myself. Even most of my friends were looking upto me for helps. A lot of them are do not a specific job they are doing. At least, I'm sure of getting money every month.

 

[Chibson]

Starting a business requires a lot of planning financially and otherwise if not even if someone gives you money to start you may not succeed. Personally I don't like to borrow money to venture into things like businesses.

 

[Chibson]

Actually taking loans to start a business is a total disaster sometimes and sometimes it may work out good. like making you hardworking in othet to settle the Bill's on you.

it may not be total disaster for some people because they know how to handle the pressure involve the businesses and to make profit. So not everyone will go into bad debt by taking loans.