Loans to start business

[Sincerem]

Those who are taking loans to start of a business should be wary of the implications before going on using the loan to settle down for a business.

 

[Josan]

Loans are not that bad to access for your business start ups, the thing to consider is your decision as regards the business will determine if you will refund the loan.

 

[joy101]

Is really good to save before starting a business but sometimes is really depend the kind of business you actually want to do that can require of taking a loan.

 

[eLdavis]

You could raise funds through crowd fundings or you could run one or two side gigs and other jobs which you can save up the required capital needed for startup.

 

[ganibade]

The best loan you can get for your business is the one you receive from your friends and family. These people are not going to pressurize on you to pay back on time just like financial institution.

 

[jay]

Most people believe that it's something that is advisable to get a financial loan to start a business but personally it is not something that I would be open to doing but rather save up my money and start a business with it.

 

[Toyoabasi]

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?

People still save up a lot of money to meet up a much needed capital for a business start up. Apart from personal savings, one can obtain grants from organisations or agencies.
One can obtain capital from friends and even relatives.

 

[tyrim88]

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?

One reason it is not actually advisable to get loans expecially for a new start up is because the business owner have not been in the business to know how the terian is and how the cash flow would be coming in,he could possibly enter into unforseen debt.

 

[jay]

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

There is actually nothing wrong with getting a loan to start up a business but where the challenge will be is not being able to pay back the loan if the business end up failing.

 

[Kane]

If you do not want to use loan to start a business, you have two options, one to find new partners, or sell shares, two, invite angel investors. Both of these options are not very easy.

 

[Abigael]

Other ways to get capital to start a business is through your own savings or income. Or you can sell something that belongs to you and earn the capital. You can also borrow from family and friends.

 

[YERUS]

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?

Apart from obtaining loans from anywhere to start up your business, you can apply for grants; this would work if your business is registered.
also, you can use your personal savings or ask for contributions from friends and relatives.

 

[Thinker009]

You could make use of loan to start a business ,but it might be very risky at the first instance because obviously lot of business have had issues in settling the loans after starting the business ,what you need is plan ,take note and be sure that the business you are starting would be able to repay the loan

 

[Justin]

Only the people who do not believe that they have a strong business idea and are doubtful about the business are afraid of taking business loan. You should not be afraid of business loan.

 

[kayode10]

Loan can give you a quick jump start when you are establishing your business. Loan give you the opportunity to to start production as soon as possible in the business.

 

[Kaffyfolla]

As for me, I can not recommend loan for the beginner to start business, I consider it as a high risk and which might cause totally downfall of business

 

[Good-Person]

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

It is not so hard to earn enough money to start at least a small business to start making more money. There are many people in my city who have been making sufficient money to start a food stall in the local market, so they have been one of those people who have started their own business successfully without taking loans.

 

[kayode10]

I don't advise people to take a loan to start a business because it is a double edged sword. If care is not taken loan can take you out of the business which you establish with it. The reason is that the interest will keep mounting if you are not paying.

 

[Skysaint]

You should save up money from maybe doing menial jobs; working both offline and online for it. I might take time anyway but it will be worth it than risking taking up loans for business startup

 

[Abigael]

The best loan you can get for your business is the one you receive from your friends and family. These people are not going to pressurize on you to pay back on time just like financial institution.

That is indeed the best loan to take for business. Family and friends will rarely force you to pay back a loan on time, they won't even ask for interest. Which is a very good thing for you, you can relax and pay back as soon as you get enough profits.