Getting a loan or Self Investment?

[Sotherefore]

Self investment will work better because it shows proper plans and organisation about the intended business you are interested to start. I wouldn't just want to be in a situation that I have to start up a business by looking for business funds elsewhere.

 

[Potuse]

This is what so many people failed to do and they will take a loan that will not be easy to make repayment and the interest will keep accumulating until it boomerang and everything will be messed up.

Before you take a loan it will need to sit down and plan it out properly. This is very necessary so that you will not find yourself playing at the end of the day because you should look for ways that will make a payment very easy for you.

 

[Ononivami1]

Before you take a loan it will need to sit down and plan it out properly. This is very necessary so that you will not find yourself playing at the end of the day because you should look for ways that will make a payment very easy for you.

One of the most important thing to put into consideration whenever you are taking a loan is to ensure that you have it all planned out and you don't make mistakes so that it will not be detrimental at the end.

 

[Potuse]

One of the most important thing to put into consideration whenever you are taking a loan is to ensure that you have it all planned out and you don't make mistakes so that it will not be detrimental at the end.

Proper planning is very necessary before taking up a loan because you will need to look for sources to make repayment very easily so that you will not have yourself to blame.

 

[Gandiba1]

Getting a loan helps to make things faster. You do not have to bother yourself about raising money for the business


Loans also have some disadvantages, but you have to focus on the benefits.
Taking a loan is only something that is tempting to do, but the fact is that you have to consider the complications are present with it and also the interest rate you will be paying at the end of everything.

 

[Immilash1]

Using your savings to start up a business is not a good idea, I think you should find a possible way to get money but using your savings is not good, and also risk what you can afford to lose.

 

[Sotherefore]

Using your savings to start up a business is not a good idea, I think you should find a possible way to get money but using your savings is not good, and also risk what you can afford to lose.

If people should not be using the money they have saved to start up a business , then what other method do you think people should be using to raise capital to start up a business , loan ?

 

[Immilash1]

If people should not be using the money they have saved to start up a business , then what other method do you think people should be using to raise capital to start up a business , loan ?

That's just it, if you want to start up a business,you definitely need to save In other to start it up, this will be a good idea to you especially if you are not good at taking loans.

 

[Danny4cash]

To me, I prefer raising the capital to start my business rather than taking loans to start. I know it's not easy to raise enough capital to start a business, but getting loans is not an option for me. If I can see free interest loans, I can get that one, but the loans giving by bank and loan companies is not an option for me.

 

[Immilash1]

To me, I prefer raising the capital to start my business rather than taking loans to start. I know it's not easy to raise enough capital to start a business, but getting loans is not an option for me. If I can see free interest loans, I can get that one, but the loans giving by bank and loan companies is not an option for me.

That's a good idea, I also prefer to get my own capitals by myself, if you know we're I'm driving at, taking loans to start up a business is not a good idea.

 

[Floura]

That's a good idea, I also prefer to get my own capitals by myself, if you know we're I'm driving at, taking loans to start up a business is not a good idea.

For me I don't really think if getting a loan to start up a business is a good idea, but rather I'll try and raise my own capitals by myself, I think that's just the best way out.

 

[UsmanAmoyo]

Getting a loan can be helpful for the start up of a business ,even though it comes with some level of risk.
I have known of people that made it big in their businesses by the help of a business.

 

[ghxstvecna]

You can check your credit score for free online or through your credit card provider. When applying for a personal loan, shoot for a score of at least 610; however, a score over 720 will yield the lowest interest rates.

 

[Genie011]

Getting a loan can be helpful for the start up of a business ,even though it comes with some level of risk.
I have known of people that made it big in their businesses by the help of a business.

There is nothing wrong in acquiring loans, as long as you have a structured way of repayment and have a contingency plan should in case the unimaginable happens.

 

[UsmanAmoyo]

There is nothing wrong in acquiring loans, as long as you have a structured way of repayment and have a contingency plan should in case the unimaginable happens.

But don't you think the person borrowing is like a servant to the lender.
I know of people that ended up losing their houses because it was collateral .

 

[Good-Person]

choosing the right finance when starting a business is very important to be successful in your plans.

Some people use their own personal savings to provide for their own business but this can be risky and may not be able to cover all the funding you need that's why the other category of people takes a loan to get going.

What's the ideal choice for you?

everyone talks about the loans in his country to expand our knowledge, please

There are so many people who tend to take loans and they end up in trouble. What's quite worse is the fact that when they do not pay the loans on time, the credits (interest) on the loans increases by the passage of time and in return this could also cause bad debt.

 

[Kvngsammy]

I'll not take a loan to start my business for any reasons whatsoever. Not only would I be under pressure to break even or make profits, but to pay back the sum and accrued interest which could be overwhelming.

 

[Genie011]

But don't you think the person borrowing is like a servant to the lender.
I know of people that ended up losing their houses because it was collateral .

Yeah, the truth is , debt can be very bad if one borrows without a contigency plan to payback incase the business fails. It is very advisable to always have a plan B while executing your plan.

 

[UsmanAmoyo]

Yeah, the truth is , debt can be very bad if one borrows without a contigency plan to payback incase the business fails. It is very advisable to always have a plan B while executing your plan.

You are right, even though I don't like the idea of debt. But if one would have a proper plan I believe that it wouldn't be a problem but rather a solution to his present needs.

 

[Danny4cash]

well when it comes to the issue of funding and getting adequate funding for a business,one should not be very tempted to go for loans from a commercial bank,because the business have not experience the real sector yet on how to respond to the market in terms of revenue ganeration.

I share the same opinion with you. Getting loans from financial institution to start a business is risky. Starting a business is risky and you can't be sure if the business will go as you planned. If you want to borrow loan it should be to expand your already existing business.