How many loans did you take out for your business?

[Grant]

How many loans would you say you have had to take out to start your business? Was it a lot? Were you able to start your business off one loan? How many loans did you end up taking out? Did your business make it?

 

[Kane]

I took loans from two different banks for my last business loans. The business never made profits, therefore, I liquidated my business and pay off the loan, still, my loan wasn't paid in full. I then sold my property to pay the loan. That's something I do not want to remember, it is very painful.

 

[Good-Person]

How many loans would you say you have had to take out to start your business? Was it a lot? Were you able to start your business off one loan? How many loans did you end up taking out? Did your business make it?

I never took any kind of loan in my life. However, the fact remains that I have borrowed petty cash. This happens when I do not receive my online payments on time. I always try my best to avoid loans because loans feel like a really huge burden to me.

 

[Frank]

I am not always hyped about taking loans for the business. Most of the times, these loans come with unfavorable interest rates that are very difficult to pay. So, I am not always encourage to suggest that anyone take loans to start a business unless your business is in dire need of such finances.

 

[Good-Person]

I am not always hyped about taking loans for the business. Most of the times, these loans come with unfavorable interest rates that are very difficult to pay. So, I am not always encourage to suggest that anyone take loans to start a business unless your business is in dire need of such finances.

I am strictly against taking loans, especially loans that involve giving or taking interests. This is why being dependent on personal finance is much better choice. You may be able to invest a little, however, you will still be protected from heavy debts and the risk of suffering from bad debts that come along with borrowing money.

 

[Frank]

I am strictly against taking loans, especially loans that involve giving or taking interests. This is why being dependent on personal finance is much better choice. You may be able to invest a little, however, you will still be protected from heavy debts and the risk of suffering from bad debts that come along with borrowing money.

There are people that have committed suicide as a result of being unable to repay some loans that they collected from loans sharks. It is always a terrible situation to be in and one that I won't advise anyone to get him or herself into. Just be contented with what you have and build your life from that stage.

 

[Good-Person]

There are people that have committed suicide as a result of being unable to repay some loans that they collected from loans sharks. It is always a terrible situation to be in and one that I won't advise anyone to get him or herself into. Just be contented with what you have and build your life from that stage.

Is this scam also common in your place as well? I thought that this is common in my country only. Having said that, there are many people who need loans and many people usually become a target of such kind of loaning scam apps because they need o deal with their finances.

 

[Heatman]

How many loans would you say you have had to take out to start your business? Was it a lot? Were you able to start your business off one loan? How many loans did you end up taking out? Did your business make it?

I have actually been very fortunate in my business of poultry and fish farming because there has never been a time when I was forced to apply for any kind of financial loan to use the money and support my business. I have only had an assistance from my mentor when I faced a very serious financial challenge but I never applied for a loan.

 

[Frank]

I have actually been very fortunate in my business of poultry and fish farming because there has never been a time when I was forced to apply for any kind of financial loan to use the money and support my business. I have only had an assistance from my mentor when I faced a very serious financial challenge but I never applied for a loan.

Having good business mentors is good. It can never be underestimated what a business mentor can do in your business. When you check the benefits that you can get from having a business mentor, then you will see a reason to have one. A business mentor can help you have access to grants instead of getting loans from banks and financial institutions.

 

[Good-Person]

I have actually been very fortunate in my business of poultry and fish farming because there has never been a time when I was forced to apply for any kind of financial loan to use the money and support my business. I have only had an assistance from my mentor when I faced a very serious financial challenge but I never applied for a loan.

Well, this all depends on how much capital you have in the first place. If you have an incredibly high amount of capital, then i do not think that you may need to borrow a huge amount of loan for your business in the first place. Many people usually borrow loans when they face huge losses in business and this is also a big mistake.

 

[Timgab]

Taking loans for businesses is cool, but I haven't find myself involved in it before. Maybe that should be because I don't like taking of loans.

It do seem as stress to me paying back loans. But if it is stands for me to lend, bamm am all in for it.