Do you give out loan to people who are starting a business?

[Solutionav]

Sometimes we meet people who seek financial help from us as they are about to start a business, most times they request for loans. Do you give out to them, especially now that they are just starting and you don't know how profitable the business would be?

It is good you give out loan to people that are just starting up, just to encourage them I know is risky but you just have to believe in them until they succeed

 

[Chizfab]

If you have a viable business idea, and you lack the adequate financial support, l will definitely invest in the business. I will not call it a loan, l would call it an investment because l will discuss the interest or return terms with you before giving out the loan.

 

[Abigael]

I am currently not giving out loans since I don't earn much myself. Concerning the issue of giving loans for startup businesses, I think one should first look careful at the business plan that the people have. Some have a great plan and potential, those can be given loans.

 

[Ralphjoe]

That's true dear, we need to study the people first and know the ones credit worthy and not just learning about the person and at same time offering such person loan.

For me I would not need to study anybody because I would definitely not want to give out loans to people because I know that people can be so unpredictable no matter how you feel that you know them.

 

[Setho]

I am always careful when it comes to the aspect of giving out loans. I give out loans or a helping hand to existing businesses a lot but then I always try to avoid new businesses.

 

[Timothy2004]

It is not advicible to give out loan to a person who wants to run a business from a start, cause it might end up falling and money would be lost. If giving loan it should be a person who has been in a business for long and needs financial support for the growth of that business.

 

[Skysaint]

Well, am not in any financial position to give out loan but if am to give out to anyone it will definitely not be to a person who wants to start up a business as there are so many risks attached but I have no problem if he insists provided he gets a collateral

 

[Oliver4smile]

It is one of the ethics of microfinance institutions not to give out loans to new business starters, and also it is not a good idea to start your new business with mainly loan capital, it might affect your business.

Sometimes we meet people who seek financial help from us as they are about to start a business, most times they request for loans. Do you give out to them, especially now that they are just starting and you don't know how profitable the business would be?

 

[Richard92]

You know in life,some people are always in need of financial support so when you're in a position to open an investment for them do ensure to that.

If you have enough money you can be able to give out loan to people who are starting business it is a good idea it is also profitable to you and to the person who starting a business.

 

[Sincerem]

For me I would not need to study anybody because I would definitely not want to give out loans to people because I know that people can be so unpredictable no matter how you feel that you know them.

Sure, people can be so unpredictable indeed that they can be very unpredictable after pretending to be good. You'll simply find it difficult to take your loan back from them.

 

[Ralphjoe]

Sure, people can be so unpredictable indeed that they can be very unpredictable after pretending to be good. You'll simply find it difficult to take your loan back from them.

So this is why I'm telling you that you have to be careful with the kind of people that you Grant loans because people have some picnic table and you wouldn't want to go and someone learn and at the end of the day that person will not pay you.

 

[Josan]

Yes!
I do that most often, the reason I do that with joy is that I always do a follow up to make sure the purpose(s) of that loan is achieved and I can only give out to people I know have what to do or their own biz.

 

[Immilash]

well I can say it depends ,but in my personal point of view I think if you truly trust the person and you know he won't fail you ,it will be a good idea giving him it her ,but if you don't trust the person or the person is not that focused that's when you will think of not giving to him or her

 

[Blessedsam60]

Yes, you can give out loans to those starting a business but the loan must come with a low ROI as they should be considered for just starting a new business.

 

[Ezekiel]

The main reason for this investigation or impression is to protect mummy when if the ,to me people who really needs this money are people who are new in business

 

[Richard92]

You know in life,some people are always in need of financial support so when you're in a position to open an investment for them do ensure to that.

It is good to give out loan to people who are starting are business hours for the first time or going into new business but you must have in mind is getting their collateral so that you will not have problem at the end of the day.

 

[Sincerem]

So this is why I'm telling you that you have to be careful with the kind of people that you Grant loans because people have some picnic table and you wouldn't want to go and someone learn and at the end of the day that person will not pay you.

It will be kinda frustrating indeed if it happens that I borrow someone a loan and the person never returned it simply stating excuses after I entrusted him or her with the loan.

 

[Ralphjoe]

It will be kinda frustrating indeed if it happens that I borrow someone a loan and the person never returned it simply stating excuses after I entrusted him or her with the loan.

Yes it will be very frustrating for you if you are to lose someone some money and that person refused to return it by giving you some silly excuses and that is why I am advising you never to give out loans to people instead direct them to financial institutions like Bank.

 

[Hojo]

Lending out my money to who wants to start a business is what I cannot do , because he or she might not know the risk of the business she's going into.. I rather lend someone who's trying to resurrect his business

 

[Sincerem]

Yes it will be very frustrating for you if you are to lose someone some money and that person refused to return it by giving you some silly excuses and that is why I am advising you never to give out loans to people instead direct them to financial institutions like Bank.

Yes, you're right dear. I am not financial institution, they can simply use their mouth to act innocent and trick me full-time without repaying the loan.