Small business loan?

[ClicketyKat]

Have you ever taken out a small business loan? Did the bank require a business plan printed out? What else was required and how long until you received the funds?

 

[tyrim88]

I could remember when i wanted to fund a project for my business,nd i approached a bank i have deposite with,i was thinking they would use my cash flow to verify my status,but they demanded for sort of salary guaranteed account.

 

[Popular]

Yes they usually ask for account which you use for salary or something that will be use as a collateral but I had non so I wasn't able to get the loan at the end of the day.

 

[Robust]

Actually taking a small business loan to start up your own small business is not bad once you have a very good business plan. You will be able to pay back such amount of money without having difficulties.

 

[Immilash1]

I don't think if that's a good idea, taking loans to start up a small business is very risky, small business you don't really have the garante of it's success, taking loans is not a good idea.

 

[Syldan]

Actually taking out loan for a small business is some how impossible in some location because there are some criteria that you will be demanded off because it's very risky for both the lending bank and yourself.

 

[Immilash1]

Actually taking out loan for a small business is some how impossible in some location because there are some criteria that you will be demanded off because it's very risky for both the lending bank and yourself.

True, for me I don't think if it's a good idea to take loans and start up a business, this very risky, taking loans to start up a business might not be the best way out.

 

[Syldan]

Totally taking loan to start a business is not a good idea it's at your own risk when the business could not worked out well you will left with burden to pay back the money collected from the bank.

 

[Danny4cash]

I have not take business loan from bank but I think it's a good idea. Bank interest rate is not higher like every loan companies. I prefer to take small loan from bank than from other loan companies. If you can have any property that can be use as collateral, getting loan from bank is not a bad idea.

 

[Ononivami1]

I have taken a small business loan but mine was a very pathetic one because I was unable to make payment on time and the interest keep accumulating . It nearly destroyed my business. It was friends and families that rescued me .

 

[Chibson]

I have taken a small business loan but mine was a very pathetic one because I was unable to make payment on time and the interest keep accumulating . It nearly destroyed my business. It was friends and families that rescued me .

I've always been against people taking loans in order to venture into businesses especially if they do not have proper knowledge on that particular business. this was actually your case because you never had enough knowledge of how it works.

 

[Ononivami1]

I've always been against people taking loans in order to venture into businesses especially if they do not have proper knowledge on that particular business. this was actually your case because you never had enough knowledge of how it works.

Loan is very dangerous , most especially if you are taking the loan for a new business. Loan is better if the business is already established and it is already making profit.

 

[Chibson]

Loan is very dangerous , most especially if you are taking the loan for a new business. Loan is better if the business is already established and it is already making profit.

Loans is actually good for established businesses because it can help them to expand and grow. But for new business start-ups it is not advisable because a lot of problems may come up.

 

[Sotherefore]

Have you ever taken out a small business loan? Did the bank require a business plan printed out? What else was required and how long until you received the funds?

I never done that before because I don't even have the interests of engaging in a business with a loan. Mostly it will depend on the amount of money you are interested to get from the bank that will determine the procedures that they have to go through.

 

[Yohanna]

I never done that before because I don't even have the interests of engaging in a business with a loan. Mostly it will depend on the amount of money you are interested to get from the bank that will determine the procedures that they have to go through.

I have gotten a loan from the online loan merchant. I discovered that the interest is just too high and ever since then I have never tried it out again. They charge humongous fee as interest on their loans.

 

[Lynaia]

Yes I've approached a bank for that before but unfortunately i could not get the loan because they are demanding for an account that shows that I'm a salary earner and I'm earner enough money per month. Why will i come for a loan if I'm earning that much?

 

[Ononivami1]

Yes I've approached a bank for that before but unfortunately i could not get the loan because they are demanding for an account that shows that I'm a salary earner and I'm earner enough money per month. Why will i come for a loan if I'm earning that much?

The same thing is applicable in my area . If you want to have access to enough loan and not not just anyhow loan, you will have to be to salary earner ,especially a government worker.

 

[Gandiba1]

I have not taken any business loan. This is due to the fact that I am someone who believes that using loaned money for business is not good. It's best to raise personal money.

 

[Syldan]

Personally I have always considered taking loan to start a business as a bad idea and I won't even advise anyone to take loan to be able to start a business most especially small business scale or a newbie.

I have not taken any business loan. This is due to the fact that I am someone who believes that using loaned money for business is not good. It's best to raise personal money.

Actually that's is a good fact. personally I don't also considered taking loan in other to start a business as a good idea because it's very risky most especially when the business could not worked well.

 

[Sotherefore]

I have gotten a loan from the online loan merchant. I discovered that the interest is just too high and ever since then I have never tried it out again. They charge humongous fee as interest on their loans.

Probably that was just a small loans you were just trying to get for emergency needs and not really to start up a business with it. Imagine using a loan with a high interest rate to start up a business.