Is it advisable to set up a business with a Loan?

[Alisco]

It is advisable I'll state why. Borrowing to invest as long as you have a solid idea of how to run that investment is the only advised type of borrowing; that way you are expanding your capacity because you're investing on something that would bring in returns for you

I agree with your facts. But I don't know why some people are against borrowing money or requesting for loan even if it will serve them right in establishment or expanding there bussines.

 

[Setho]

If you are going to be using a loan from a business development bank then that is something considerable. You should never borrow money in order to start a business.

 

[Kvngsammy]

Probably, if you have a solid business plan there is nothing wrong with you borrowing. So many successful businesses around the world today actually started off by using loans.

Well maybe for some others but for myself, I'm not sure I'll be willing to take that risk anymore. I'd rather go the route of angel investors or friends who can give me capital or at worst give the loan I seek.

 

[Chibson]

Well maybe for some others but for myself, I'm not sure I'll be willing to take that risk anymore. I'd rather go the route of angel investors or friends who can give me capital or at worst give the loan I seek.

Your best option is if you have friends or family members who are ready to invest in your business then it will be better. Looking for angel investors may actually not be able to materialize.

 

[Shigobad20201]

Your best option is if you have friends or family members who are ready to invest in your business then it will be better. Looking for angel investors may actually not be able to materialize.

In my own point of view , there's nothing ba3 in running a business with with loan If you have a good plan , not everybody can do crowdfunding nowadays and If you can get good investors , that will also be better .

 

[Danny4cash]

It depend on the kind loan that's available. If it's an interest free loan, then you go for it. But it's a kind of loan that generate interest, then I will advice against it.

 

[Chibson]

In my own point of view , there's nothing ba3 in running a business with with loan If you have a good plan , not everybody can do crowdfunding nowadays and If you can get good investors , that will also be better .

Yeah, taking a loan is very good to start a business because not everyone can afford a lot of money to go into a business they wish to go into. That is why some countries provide loans for their citizens who want to start businesses.

 

[Ofonime6]

There is nothing wrong starting a business with loan but you ned to know that the first thing which you need to consider is that you will need to manage the business yourself so that you can pay back the loan easyly if not so you may definately get arrested so you need to manage the money wisely
There is nothing wrong starting a business with loan but you ned to know that the first thing which you need to consider is that you will need to manage the business yourself so that you can pay back the loan easyly if not so you may definately get arrested so you need to manage the money wisely

 

[Imran_Noori]

Is the idea of starting a business with a Loan from bank advisable??

I think starting a business with bank loan is not a wise choice because if your business fail then what will happen? Instead try to make some money buy yourself and then start your business.

 

[Good-Person]

Your best option is if you have friends or family members who are ready to invest in your business then it will be better. Looking for angel investors may actually not be able to materialize.

i have never liked taking loans at all and I think that taking loans is a very risky decision. Some people would like to take loans and never pay interest and interest-free loans could be an option for many people.

 

[Chibson]

i have never liked taking loans at all and I think that taking loans is a very risky decision. Some people would like to take loans and never pay interest and interest-free loans could be an option for many people.

it is only the government that sometimes gives interest-free loans. The reason is because they know that when you start generating profit you will be paying your taxes but loan companies don't do that.

 

[Shigobad20201]

i have never liked taking loans at all and I think that taking loans is a very risky decision. Some people would like to take loans and never pay interest and interest-free loans could be an option for many people.

Taking a loan to start a business should be the last resort because if you are not careful , you will be swimming in debt and might loose everything if care is not taken , you can use another means to get what you wanted like seeking help from family and friends.

 

[Skysaint]

There's no version of it that I would think that it's a good idea to start a business with a loan. I get it that people might actually go for it as it's their last option but definitely not a good idea.

 

[Good-Person]

Taking a loan to start a business should be the last resort because if you are not careful , you will be swimming in debt and might loose everything if care is not taken , you can use another means to get what you wanted like seeking help from family and friends.

I think that taking loan should never be the last resort either. This is because even if you take loan and if you suffer from losses, then you will suffer a lot in the end.

 

[Connor909]

Several variables, including the loan amount, interest rate, loan purpose, and prospective revenue of the business, will determine if it is wise to start a business with a loan. A loan can provide the funding required to launch or grow a business, but it also comes with dangers like debt, default, and collateral loss.

 

[Heatman]

Is the idea of starting a business with a Loan from bank advisable??

It is going to be impossible for me to start any kind of business with a bank loan but I know a lot of people that are into doing it and what is the most important thing is for you to have a very good plan of paying back the bank loan.

 

[Jonaville1]

Is the idea of starting a business with a Loan from bank advisable??

Setting up a business with a loan may not be a good idea because the person is just starting the business and it is likely for the business to fail so it is just better to continue the business with a loan

 

[Heatman]

In my country Nigeria getting alone from banks to start a business can be very frustrating and no go area if you don't worthy guarantors or collateral. So it is not advisable to get a loan from the bank. trying to pay back the loan will affect the smooth running of the business.

This is very correct because they believe that most people who are actually looking for loan will always default when it comes to paying back the loan when it is time for them to do so which is why they make it very difficult to give out loans.