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

[Delight]

Nothing wrong seriously, but it is sometimes hard to get to know who the serious ones are as so many people just come up with lies to get what they want.

It's true, but how do we know the people that are in genuine need of the money for business,we are living in a society in which a lot of people pretend alot, how do we know the genuine people to give out loans or grants to for business ?

 

[Ralphjoe]

I absolutely do, I see it first as a way of helping an aspiring business person kick off their dreams, and also an answer to someone's prayer.
The thing about this kind of loan is that you give and leave it open ended because it will either be repaid or not and you have to brace up for whatever that outcome will be, so it is more or less a selfless service to humanity, how I see it.

For me I would never use an aspiring business person or no because I know for sure that most people would never repay back this loan is especially when there are no legal agreement.

 

[Razor1911]

For me I would never use an aspiring business person or no because I know for sure that most people would never repay back this loan is especially when there are no legal agreement.

It is better to give a loan to a settled business than start up at once. The main reason is that at the starting of the business, it is very unpredictable if it can sustain in the market, where as a settled business will have surety of giving some returns.

 

[Ralphjoe]

It is better to give a loan to a settled business than start up at once. The main reason is that at the starting of the business, it is very unpredictable if it can sustain in the market, where as a settled business will have surety of giving some returns.

I completely agree with you that is better to give a loan to an already established business that is striving that a startup business as most startup business are very unpredictable and they can fail at anytime.

 

[Bookwormlux1]

It's true, but how do we know the people that are in genuine need of the money for business,we are living in a society in which a lot of people pretend alot, how do we know the genuine people to give out loans or grants to for business ?

It boils down to how close you are to them and this is very much easier in determining whether they would be faithful in repaying the loan.

 

[Dowenship]

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.

But if opening an investment for those who are in need of financial support at that moment are n need of the support at that moment, investment might take a long time.

 

[Bookwormlux1]

But if opening an investment for those who are in need of financial support at that moment are n need of the support at that moment, investment might take a long time.

This is why even someone that wants to help must just think about giving out what he can afford to lose and not something that would get you upset later.

 

[Chibson]

Sometimes the government may decide to help people who are just venturing into businesses. Such schemes can be created maybe annually in some countries.

 

[Senator]

I cannot give out loans to people starting a business. That is not my priority at any time. If they are thinking of getting a loan for their business, since it is what they want to do, they can get it from the loan apps and other financial institutions

 

[Prettyjanie]

No one has approached me for a loan before, however if I am approached and I have the money provided the amount required is not much, I should be able to assist.

 

[Josemendez]

No one has approached me for a loan before, however if I am approached and I have the money provided the amount required is not much, I should be able to assist.

That's humanitarian but I think you should not give out the loan just because you have the money. I believe you should endeavor to analysis the business and see if the return will be possible

 

[Bookwormlux1]

I cannot give out loans to people starting a business. That is not my priority at any time. If they are thinking of getting a loan for their business, since it is what they want to do, they can get it from the loan apps and other financial institutions

This is better as you are not even legalized to be a lender and it would be hard to recover your money, unlike banking institutions that have the right.

 

[Jlife]

Loan always bring a lot of dispute and disagreement between two individual because one person might not be able to pay back the loan and that can bring out a lot of serious disagreement that may even involve the police.

 

[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're into giving out loan to people that starting business you know that they must be interest percentage this may enable you to gain back your money and also get profit not be standing you must also ask for collateral.

 

[Bookwormlux1]

Loan always bring a lot of dispute and disagreement between two individual because one person might not be able to pay back the loan and that can bring out a lot of serious disagreement that may even involve the police.

This is what some fail to understand. So many friendship have gone sour due to this issue of loans. This is why I don't recommend it.

 

[Snazzy001]

At one point I was thinking about how incompetent a beginner could be in business and how risky is it to loan money to this very person. But I became consoled by the fact that some people are experienced and could really make wonders if given the opportunity

 

[Emmado]

I don't have enough money to The point of giving out loan for other people to start up a business, from experience and from what I've been hearing, giving out a loan might be easy but could be so difficult to get it back, I won't even think of giving out loan to everyone

 

[Jlife]

This is what some fail to understand. So many friendship have gone sour due to this issue of loans. This is why I don't recommend it.

I can't even remember how many instances have witnessed, they will just take police to the debtors shop and pack all His products including fridge, generator and all other business tools and equipment to the police station, lolz .

 

[Setfragil]

People do give out loans to those that are just starting a business. I can give loan to someone that is just starting a business provided that I understood the business he want to use the money for and his probability of paying back the loan is high.

 

[Kelly5]

To be equiped to give out loans to start up businesses, one need to be sure that these startups are going to be able to pay up these loans in due time. You will have to get some level of collateral before giving out these loans somehow too

That is very true. Some level of collateral will be needed on the part of the person sell f to get a loan be it from the bank or from any individual as well.