Loans to start business

[Dorcey]

Business money can be gotten through various ways which include loan. Obtaining loans will even allow business owners to work harder to repay the loan because they know what is at stake should they fail to pay the loan.

 

[Denuola]

. Raise capital by asking friends and family.​

. Find an angel investor​

By definition, angel investors are accredited individuals with a net worth exceeding $1 million or annual income of more than $200,000. They typically operate alone, but may team up with other angel investors and form a fund.

Knowing this, angel investors can be a good source of capital for your business.

. Get investment from venture capitalists​

Venture capitalists (VCs) typically want to invest in slightly more mature companies than angel investors and sometimes want to have more of a say in managing the day-to-day operations.

 

[LaylaG]

anyone that is interested to start up a business should try as much as possible to raise his own capital , I don't always like the ideas of someone going to to borrow money from the bank or any other source to start up a business he does not have an understanding if the business will succeed or not.

 

[Draysongz]

I personally advise to consider the factors before getting a business loan. However there are numerous ways to get business loan, you can get loans from banks and lending platforms to get business loans.

 

[chicnthin]

As much as possible, we should not take loans on banks when starting a business. You would need a collateral for that, and failure to pay the debt, they will take your assets. It is better to just start small business from a capital that was raised by savings.

 

[Shahzad Ahmad]

You can start your business with the help of properties that were given you by your forefather or family. You can start business by sell your machinery if you have car, motorcycle or others. You can start with the help of pension if you or your father have received pension after retirement.

 

[Bart Simpson]

The loan is best not taken when planning to develop a company, unless not otherwise terribly risky. One friend mortgaged their house to start up a transportation business. However it didn't take off. He then had to sell all of his assets to avoid his home being foreclosed by the bank. That would be one way of getting more capital, but often the problem is that you need somewhere between $5,000 to $50,000 to get started. If you need more capital, I'd suggest crowdfunding. Only go in there being prepared with the presentation because funders are generally meticulous with the business plan.

 

[Damscooguns73]

Concerning obtaining loans to startup a business. Well, taking loans to start a business is actually not bad since the individual is 90% of the business yielding before the stipulated time of return but I dont really encourage it, you can obtain loan for an existing business that needs financing, by then the individual knows the stance of his business whether it's worth obtaining loan for

 

[Zamaney]

Equipment Financing
Specifically designed to pay for the purchase of equipment and machinery, equipment loans are similar in structure to conventional loans, with monthly repayment terms over a set period of time. However, the proceeds must only be used to purchase equipment or machinery

 

[Briangsam]

Taking loans to start a business is frowned at by many. This is because of the ridiculous interest rate some charge on the loan. Some financial institutions however charge a single digit interest over loans. These type of institutions though very competitive should be the go-tos when seeking for loans.

 

[Xerryl]

I always advise against taking a loan for the capitalization of a business. One friend mortgaged their home to start up a transportation business that later on he had to sell all his assets so the home will not be forfeited by the bank. If you need capital then maybe you can try crowdfunding - find people who are willing to invest in your business. Just be prepared with the pitch because funders are usually meticulous with the business plan.

Yea! Taking a loan for a new business is really a bad move. I would rather sell off my valuables to raise money.

 

[Azhar119]

While a bank loan may be your first choice, for the majority of startup businesses, a traditional loan will be out of reach. Banks have strict small business lending standards, and what they offer is often available to established businesses. You may, however, be able to work with your bank to secure equipment financing or other types of business funding if you have a solid business plan in an industry the bank serves.

 

[Seyesystem]

Getting loan to start a new business is common when you don't have enough capital but Sometimes it's difficult to repay loans especially when there is decrease in sales.There is nothing wrong to get a loan for a new business once you know that the business is viable. So many big business that you here there name globally started the business with loan. Once you carry out your market research and feasibility study of the business and you are very sure of the profit projection of the business you can get your loan and start the business. Business involves risk taken I hope you still remember the higher the risk the higher the return.

 

[btaliat]

Since a lot of people have expressed concerns over the use of loans to start a business, what other means/method is available to get the much needed capital to start a business with?

There are other ways of funding money for business apart from loans. For instance, you can borrow from friends if you can not do personal saving which I see as the best way and non problematic way of sourcing for money for business.

 

[Robrown83]

Someone can even borrow loan to start a business but you get something that you know that if the business is not flourishing or collapse, you can sell to pay the loan and the interest on it. Anyway, it never advisable to borrow loan to start a business because you mind won't be at rest.

Loans has not been a good option for starting a business because it can hinder someone from taking calculated risks ,because of the fear of losing the collateral.
I believe the best way is to start a business through saved money or money from family and fri

 

[Tariq Shehzad]

I am not in the right of taking loan and starting business. So, I am also part of those who doesn't support obtaining loans to start a business, there are other and better means of obtaining capital to start a business as can be possible.

 

[Goodday]

Since a lot of people have expressed concerns over the use of loans to start a business, what other means/method is available to get the much needed capital to start a business with?

I think it is advisable for one to take loans for starting a business, it's definitely a wrong idea. There are many other ways but they are hidden, some of them including borrowing from a friend or a family member or just use the little that you have to start and make sure whatever that comes out of it, goes into it again.

 

[Ehtisham memon]

Bussiness start with is a good idea for the poor or interested men whose joined the business create and more susceptible Bussiness start that bank giving loan but you start the Bussiness with the loan and your business is not going to good or fail that's loan is very expensive to return the bank

 

[Highflyer]

I do not agree with the idea of starting a business with loan too, you could apply for a loan to expand your business later on but starting a business with a bank loan isn't a good idea. You should try saving up to start your business rather.

 

[Abbas ali]

How to Apply for Startup Business Loan?

1. Visit the official website of the lender from you wish to avail the loan and apply for it online by filling up the form and submitting the required documents.
2. Visit the nearest lender's branch and submit the loan application form and documents.