Loans to start business

[Setho]

Actually, I myself do not subscribe to the idea of starting a business on loan no matter what. Personally I prefer the $100 startup ideal so I do not have to spend large. You can save for a long time, you can go into a partnership and even take no interest grants from family.

 

[Dubai]

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?

Taking loans to start business is not advisable if you are quite new in the business and of it your first time. You can save to start a business.

 

[nimzy]

As a business beginner I will personally not advice a beginner to go for loan to start up a business because it is very risky the amount or income to plan for the future of the business will be use to finance loan and that will affect the growth of the business.

 

[Victor001]

Grants from non governmental organization,loan from banks and even from friends, collecting loan is not a bad thing as long as you return when due,Purge the habit of using loan to settle loan,it only enslave you to money.

 

[Setho]

I do not like the idea of starting a business no matter what on a loan. I just believe that you should start the business with as little money as possible and scale it .

 

[Shigobad20201]

You are absolutely right Because you take a loan to start your business So in return you will have to pay some intrest.It would be better to find people who want to invest in doing business.It's a good way to start your business.

I really admire you because you knew a lot about loan, loans is not adviseable to start a business because you will be focused on how to pay back and it will affect the business.

 

[Mostee501]

Get finances to start up a business isn't easy especially when you don't have the means of funding it except through loan from financial institutions which is not always advisable,getting aid from family members and friends (crowdfunding) and another way is starting a small business in other to generate funds for the big business.

 

[joy101]

Depending an individual personally I don't like taking a loan to start up a business I don't support that idea of taking a loan to start up a business, I like to save money before going into business.

 

[Prettyjanie]

I really do not advice you to start up a business with a loan, especially one you are not familiar with. I'll advise you to solicit funds from friends and family. The loan should be the last resort in the event you are unable to raise any money.

 

[Richard92]

You can get loan to start up a business from banks and also from friends and sometimes from the government are the best way for you to get loan. However loans are not advisable because they have higher interest percentage when paying back.

 

[MercySmith]

I think the major concern when trying to obtain loan is how will the money be paid back. Getting other source of funds to start a business might be difficult.

 

[Shigobad20201]

You can get loan to start up a business from banks and also from friends and sometimes from the government are the best way for you to get loan. However loans are not advisable because they have higher interest percentage when paying back.

Getting a loan from the bank is not adviseable because its the debt you will be looking for the means to pay the loan and you won't stick to monitoring your business.

 

[Eodine]

The major way aside loan in getting capital for your business is by saving and through families and friends.
These are the group of people that can contribute capital for your business.

True, family and friends really have a way of helping enterpreneurs to start a business but also one can get funds to start a business by putting some money aside to start the business.

 

[Spicywilfred]

Apart from getting loans from the bank or a group, you could solicit for assistance from a family member or a very close friend/acquittance. One could aslo start pay before delivery business that way you could raise fund.

 

[Setho]

I do not like the idea of taking out loans to start a business. Even if you must take the loan, then it should be one that you can pay in a short time and has low interest.

 

[Setfragil]

You can only take up a loan when you are certain that what you want to use the loan for will be profitable to pay back the loan. Otherwise, it is not advisable to take a loan to finance a business.

 

[Bousine123]

You can sell shares from the supposed business, get money from friends and relatives, but please do not borrow, it's burdensome.

 

[Yusuf1]

One of the best ways to get capital to setup a business is through personal savings. Another option is to seek for government grant or better still seek help from family and friends

 

[Dashpiku]

One of the best ways to get capital to setup a business is through personal savings. Another option is to seek for government grant or better still seek help from family and friends

Personal savings is good as for risk it can be manageable. But taking from Government loan will be very risky. as we have to pay back the money along with the interest amount. Better to go with personal savings.

 

[Ralphjoe]

Getting loan to start business is not advisable. Try as much as possible to get a capital to start a small business without loan. Loan can be apply after the existing of the business in which to boost the business.

I do not agree with your submission because it's not everyone that has the capital to start up a business so the only options that they have to start up a business is by taking loan and the only thing I can say is that when taking loans people should try as much as possible to avoid bank loans as bank loans are traps with their high interest rate.