Did anyone give you a small/big loan to start your business?

[ganibade]

Has anyone helped you with starting your business by giving you starting money? Like they give you a small or big loan to start your business off, and you gradually pay them off when the business makes profits. Did anyone ever do that for you? Or did you take donations from friends and family and also pay your own way?

The choice between taking out a large or small loan to launch a business depends on a number of variables, such as the particular business idea, your financial status, and your risk tolerance. Each choice has benefits and drawbacks. A large loan might offer significant funding for a strong start, but it comes with more debt and danger. Although a lower loan may result in less financial strain, it can restrict initial growth. To make the best decision, careful financial planning and evaluation of your business plan are necessary.

 

[Good-Person]

I have never been open to using money borrowed from banks to start any business. I had to work for years and saved my own money saved up as the capital. Getting loans is never an option for me in business and that's why I don't consider it for any reason whatsoever. I had grant from my mentor but that's just about it.

This is the kind of strategy most of the people use. They tend to start small and then they save enough money in order to start a specific kind of business. In many cases, many people save for their entire life. When they retire, they use that capital to start a business at an old age or they invest money in any kind of investment opportunity.

 

[Heatman]

This is the kind of strategy most of the people use. They tend to start small and then they save enough money in order to start a specific kind of business. In many cases, many people save for their entire life. When they retire, they use that capital to start a business at an old age or they invest money in any kind of investment opportunity.

For me, it does not matter how long I had to work and save money before I had enough capital that is going to be enough for me to start a business of my own because that is exactly what I will always do in every situation that I find myself with respect to any kind of business that I want to start.

I can't have myself being pressured because of the loan that I got from a bank to start a business and it's going to make me restless all throughout the year I'm running the business.

 

[Good-Person]

I've never had any financial support of any amount from anyone. I don't like begging or asking for help even when I know some people who can help but I hate being told No or given another flimsy excuse why they can't help me. I can't stand the embarrassment and it's why I don't beg.

I think that a person should never rely on anyone else and a person should work harder in order to become financially independent. This is why it is very important to understand the importance of personal finance. This helps us to avoid taking loans.

 

[Heatman]

The choice between taking out a large or small loan to launch a business depends on a number of variables, such as the particular business idea, your financial status, and your risk tolerance. Each choice has benefits and drawbacks. A large loan might offer significant funding for a strong start, but it comes with more debt and danger. Although a lower loan may result in less financial strain, it can restrict initial growth. To make the best decision, careful financial planning and evaluation of your business plan are necessary.

There's no point in applying for a small loan when you have a bigger business projects that needs more money to support the business. It's the process that's required to obtain small loan that you're going to pass to get big loan amount. As long as you have a good business structure that's going to give you better chances of being able to pay back the loan, it's the best thing to go for bigger amount.

 

[eLdavis]

In my case, there was actually no one to do that for me, i started my business small. Majority of the funds i used where from savings and earnings i got from working on various paid to post forums and other sites.

 

[Ja sa bong]

Grant is good. I mean you are pretty sure that you won't be facing some pressure to repay when you experience struggles at the start of the business. I have seen people borrow 100% of their capital to start a business and I wonder what gave them the guts.

I will accept grants any day from government and private individuals who are willing to support my business. Any amount of money they are willing to give me, will be appreciated. I won't have any debt to pay back from receiving grants and it's what makes it good.

 

[Frank]

I will accept grants any day from government and private individuals who are willing to support my business. Any amount of money they are willing to give me, will be appreciated. I won't have any debt to pay back from receiving grants and it's what makes it good.

Grants being free money is what makes it awesome to go for. I believe in some cases, the government agencies may want to come and see what you did with the money, but as long as you are truthful, I don't see anything wrong with pushing to have a grant being given by the government or other organizations.

 

[Heatman]

Grants being free money is what makes it awesome to go for. I believe in some cases, the government agencies may want to come and see what you did with the money, but as long as you are truthful, I don't see anything wrong with pushing to have a grant being given by the government or other organizations.

The government of my country will never assist you with grant and not to talk about loans. Any business loans that you want will be received from the financial institutions and the government will never play a part in it. I have been applying for government grants to support my business of poultry and fish farming for 4 years with nothing to show for it.

 

[Ja sa bong]

Grants being free money is what makes it awesome to go for. I believe in some cases, the government agencies may want to come and see what you did with the money, but as long as you are truthful, I don't see anything wrong with pushing to have a grant being given by the government or other organizations.

Corruption in the government agencies where grants are given to small scale businesses is what makes it difficult for most of the small businesses to get those government grants. If we don't get rid of corruption, we would be gotten rid of by corruption.

 

[Heatman]

Recently, the Central Bank of Nigeria has approved a N350 million grant for the businesses of poultry farming in this year's budget. This is a very big amount of money that's going to help most poultry farmers should our grant's commission put more efforts in seeing that all registered poultry farming businesses get the percentage they are entitled to.

 

[Frank]

Recently, the Central Bank of Nigeria has approved a N350 million grant for the businesses of poultry farming in this year's budget. This is a very big amount of money that's going to help most poultry farmers should our grant's commission put more efforts in seeing that all registered poultry farming businesses get the percentage they are entitled to.

The issue with most of these grants is do they even get to the people that are supposed to get it? There are times that at the end of the day, those that are supposed to get it don't and those that get it are the ones that are in government and don't even own a farm. If these grants are distributed equally, then everything will get better with some people that are into poultry farming.

 

[Heatman]

The issue with most of these grants is do they even get to the people that are supposed to get it? There are times that at the end of the day, those that are supposed to get it don't and those that get it are the ones that are in government and don't even own a farm. If these grants are distributed equally, then everything will get better with some people that are into poultry farming.

This is one of the biggest problem that we are facing in our country today because those who are in charge in the government offices that are supposed to be disbursing those grants to farmers who are expected to get it will always use the money for their own personal gain. There is nothing anyone can be able to do to probe them.

 

[Frank]

This is one of the biggest problem that we are facing in our country today because those who are in charge in the government offices that are supposed to be disbursing those grants to farmers who are expected to get it will always use the money for their own personal gain. There is nothing anyone can be able to do to probe them.

That is how some people end up being part of those that messed up the economy at the end of the day. Assuming those that are supposed to do the right thing did it at the time that it was expected, the economy would have gotten better at the end than what the country is experiencing now.

 

[Ja sa bong]

That is how some people end up being part of those that messed up the economy at the end of the day. Assuming those that are supposed to do the right thing did it at the time that it was expected, the economy would have gotten better at the end than what the country is experiencing now.

Corruption can never fade away from the government bodies. The government bodies worldwide are corrupt in different ways, it's why funds are misappropriated and no one will be held accountable.

 

[Good-Person]

Recently, the Central Bank of Nigeria has approved a N350 million grant for the businesses of poultry farming in this year's budget. This is a very big amount of money that's going to help most poultry farmers should our grant's commission put more efforts in seeing that all registered poultry farming businesses get the percentage they are entitled to.

This might be a really good news for many farmers who may be struggling with their businesses. I also live in an agricultural state and we rely a lot on agriculture as well. Our government also announces such kind of packages to many different kinds of farmers. However, this depends entirely on the budget of the government.

 

[Ja sa bong]

Yes I once collected a loan from my family which I was more or less like a gift, and it really helped me do some training and get some things I needed for my business

If your family can afford giving you a grant because it's like what they gave to you, it removes the pressure which comes from paying back a loan. I've never found myself in the situation of needing to pay back a loan because I will never take a loan.

 

[Heatman]

This might be a really good news for many farmers who may be struggling with their businesses. I also live in an agricultural state and we rely a lot on agriculture as well. Our government also announces such kind of packages to many different kinds of farmers. However, this depends entirely on the budget of the government.

It's definitely a good news for farmers because the money will be definitely be helpful for their business. Unfortunately, farmers don't get even 50% of this money. The bodies in charge of making sure that farmers get this money are sneaking the money into their own pocket. Corruption is a very big problem in my country.

 

[Frank]

It's definitely a good news for farmers because the money will be definitely be helpful for their business. Unfortunately, farmers don't get even 50% of this money. The bodies in charge of making sure that farmers get this money are sneaking the money into their own pocket. Corruption is a very big problem in my country.

There are a lot of countries where things work the way that it is expected and farmers staying in those countries always get what is due them with respect to producing food products at a cheaper rate. It is a shame that some leaders in some countries mess things up with their greedy attitude.