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

[Shigobad20201]

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To give a loan to someone is determination. For someone that has capacity to give loan,most of these people plans for it. Firstly they look at beneficiaries that have ability to pay back.

You are right , you giving out loan to people is by determination because you you not get the money back and the person collecting the loan too is determined to be successful in the business.

 

[Sincerem]

I do not give out loan to people who are in need to start a business. I'm somehow sceptical and I just believe it is not the right thing for people to start a full business with a loan . This is an act of laziness.

 

[Shigobad20201]

Though i am also trying a lot to let my business becomes one of the best out there but i just don't appreciate taking loan because inhave seen the implication of loan on people's business.

 

[tyrim88]

I would not say it a loan but I once lent some money to a friend who was trying to start a business. Thankfully, she made money and returned my money in 3 months.

One thing we got to understand about the issue of lending money out,either to a friend or close family members,you should always give out what you can afford to loss,that will help you if you can no longer recover it.

 

[Shigobad20201]

There are some situation where you don't have any choice than to start your business with a loan because you don't have the neccesary needed fund to start your business.

 

[Chibson]

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.

Definitely, it is good to help people who are in financial need. Personally, giving loans to people is not really my thing instead I will support you with the amount of money I have.

 

[Syldan]

Actually I can give out loans to people who are starting business but it really depends because it may be at my own risk. I can only do that upon an agreement.

 

[Shigobad20201]

My business is quite lacking at the moment because I needed money to boost my business , but there's nobody willing to loan and borrow me money to upgrade my business.

 

[Good-Person]

I believe co-operative society or loan sharks giving out loans to people who wanted to start a business are not many because the money will always be at risk,you only borrow to support business.

I have heard of the term "Invest what you could afford to lose". However, I think that people should borrow money they could afford to lose. Borrowing money is also a hard job.

 

[Shigobad20201]

I have heard of the term "Invest what you could afford to lose". However, I think that people should borrow money they could afford to lose. Borrowing money is also a hard job.

Borrowing money to start a business is what i don't advise , most especially borrowing money to start a business that you knows nothing about the future of the business.

 

[Good-Person]

Borrowing money to start a business is what i don't advise , most especially borrowing money to start a business that you knows nothing about the future of the business.

Many people are actually addicted to borrowing money again and again, despite the fact that they might have money. I really do not understand why they would do that despite having money.

 

[Shigobad20201]

Many people are actually addicted to borrowing money again and again, despite the fact that they might have money. I really do not understand why they would do that despite having money.

I have seen the negative effect of borrowing on the life of people because it happened to me once when i borrowed online and I could not pay back on time , the loan keep increasing daily.

 

[Imran_Noori]

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?

If I could believe in person and his idea about business then I would give him loan but nowadays trusting is very difficult, if their business fails then from where you could get back your money?

 

[Joseph555]

However, I have helped a couple of people in their business endeavor. Having said that I offer my management services free to my friends and family who want to start a business.

 

[nana kwasi1]

I don't give out loans because you can't give away what you don't have, but if I could, I would if the idea were sound and likely to succeed. Then, it would be like an investment.

 

[Shigobad20201]

I don't give out loans because you can't give away what you don't have, but if I could, I would if the idea were sound and likely to succeed. Then, it would be like an investment.

I am still struggling with my business currently , so I don't really have the capability of giving out loan to others people that are trying to start their own business.

 

[Sotherefore]

I don't support starting a business with a loan. And I may not be in a position to give out loans to anyone that is interested to start a business. The best place to get a loan is from the bank or any other loan giving organisation.

 

[Genie011]

After carefully examining and vetting the ability to smoothly conduct the business, I would give the loan. But most likely, I would invest in that particular business so I gain some profits.

 

[Ayojesu]

yes, that is the exact thing that my company does, i work with a loan firm and we provide secured and flexible loan packages to business owners and salary earners

 

[Sincerem]

yes, that is the exact thing that my company does, i work with a loan firm and we provide secured and flexible loan packages to business owners and salary earners

It is better for a loan to be provided by companies rather than singles individual because at least that is more official . Sometimes if you choose to do this as a single person a lot of people might want to use it against you and you might get into trouble with people as they won't likely want to pay your money back.