Getting a loan or Self Investment?

[Shigobad20201]

Actually if you are getting a loan to start any investment or businesses is very good if and only if you have a way of paying back such loan without it affecting your business or investment.

There are people out that have good business business plans and ideas but they don't actually have enough money to start their business m so they don't don't bay choice than to start with a loan .

 

[Danny4cash]

Taking loans to run a business puts you at a position of disadvantage. Loans come with high interest rates and most financial institutions usually demand collateral and other requirements which may be difficult to meet.

I totally agree with you. Obtaining loan especially loan that have interest to start a business has many disadvantages. If care is not taken, all the profit you realized from the business will be used to pay interest.

 

[Syldan]

I will advise anyone if you have the financial strength, is more better to self fund your business than taking loan in othet to finance it because it's very risky to some extent.

 

[Shaffy]

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

A lot of banks don't give out loans freely for people to use in business, especially if it's a new one. Most would request for collateral people don't have too. It's not their fault though since a lot of businesses do fail.

If one has an existing financial history that is good with the bank, it may be helpful.

 

[Joseph555]

I wouldn't imagine it because business loans have higher interest right now as well. I completely agree with that, self investment is far more better than taking loans to start up a business

 

[Mighty]

Well I don't know for others but for me, self-investing is the better option but not always on the table. For most people, getting a loan makes the process easier and faster. If I were to start up a businesses right now, I would either have to use my downpayment savings for a house or continue saving for several years.

 

[Agbalagbaa]

Taking loans in my own opinion is not a good idea, if you want to start up a business I don't think it will be a good idea to start it up with loans, but do what works out for you.

 

[Danny4cash]

Well, when starting my own business, I would like to use my own savings to open the business, I think it is more peaceful like that for me, at least I will not be thinking of interest rate and collateral.

Starting a business with one saving is the best. You would peace of mind unlike when you're trading with loan. If you're doing business with your own money, you would free to try many things which you would've not dared if it's loan money.

 

[Skysaint]

I think if anyone is allowed to choose, I doubt if any sane person would do for taking a loan when there's an option for self investment. People take loans in the first place because the second option seems unavailable.

 

[Rolly_blen]

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 would be no justification for me taking a loan to start my enterprise. In addition to the natural business compulsion of generating revenue, I would also likely face the daunting task of repaying the principal plus interest.

 

[eenya001]

when you are starting out a business it is advisable you do not take a loan to start the business, invest on yourself and only when you need to expand your business before you should consider taking a loan

 

[nana kwasi1]

Although I believe self-investing to be the best option, it is not always possible. The process is typically streamlined and accelerated when a loan is obtained. If I launched a business right now, I would either have to spend my money for a down payment on a house or continue saving for a time.

 

[Syldan]

Actually getting a loan to finance a business is not a bad idea but it shouldn't be the money to start the business. it's advisable that you always start your business with your personal fund or savings than loan.

 

[Mohammed Rashid]

Many people have made the mistake of failing to do this, leading them to take out loans that are difficult to repay and accumulate interest until they boomerang and cause chaos.

 

[Bizil Polo]

I've never been in favor of obtaining credit from others. I take out very little loans to help me with my problems, but I never take out loans that I won't be able to repay.

 

[Ray-forzy]

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

It is best to borrow from your relatives and friends rather than financial institutions and other organizations since they will likely be so much more accommodating, in terms of future repayment.

 

[tyrim88]

I have never been in favour of borrowing money from people. I borrow a really tiny amount of money in order to deal with the problems I face, but I do not borrow money that I cannot pay back.

It is not even advisable for a new business that is just starting up and have bearly know and understand how to market operate and function to start up with a loan facility,it is not a good step,growing from what you have is just the best option.

 

[Sotherefore]

I always advise that loan should be avoided because it is risky most especially if there is high interest rate for you to pay. I rather will not established a business if I only have to establish it with a loan except I am hundred percent sure about its success.

 

[Ronny_4son]

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

In my opinion, self-investment is the smarter option between the two because the loans come with the hazard of a collateral and the interest rates are extremely exorbitant

 

[Georgeadawara1]

While starting a new business it is important to self investment into the business than looking for a loan and it will make you to have a peace of Maine and have fear while doing the business.