Small business loan?

[Robust]

Loan may not be bad, but paying interest money is certainly a bad thing from a religious point of view. Paying excessive interest burdens the borrower, too. Therefore, it is wise to apply for interest-free loan.

Paying interest in any business loan or any loan that has agreement is never bad and I do not know any religion that says it is bad, this is business and when agreement is taken, it should be accomplished.

 

[Good-Person]

Paying interest in any business loan or any loan that has agreement is never bad and I do not know any religion that says it is bad, this is business and when agreement is taken, it should be accomplished.

Well, I am a Muslim and taking and paying interest is prohibited in our religion. Paying interest or usury could overburden the payee and this could cause some financial problems for the borrower.

 

[Shigobad20201]

Your business plan says a lot and gives you the confidence even to take loan in starting the business some time because you will certainly plan on how you will refund the loan without affecting the business.

 

[Syldan]

Actually loan for small business is sometimes call a diaster even though there are different ways of business management. some can be successful while some will failed.

 

[Chibson]

if you have enough knowledge of the business you want to venture into that you can try it out with a little loan. But if you do not have experience in businesses you should use your personal savings.

 

[Robust]

Well, I am a Muslim and taking and paying interest is prohibited in our religion. Paying interest or usury could overburden the payee and this could cause some financial problems for the borrower.

Ha..if it is like that then it will be good enough for someone not to involve him or her self in some kind of business most especially companies business, because they do make people to pay interest in most things.

 

[Shigobad20201]

Actually loan for small business is sometimes call a diaster even though there are different ways of business management. some can be successful while some will failed.

I have seen many business entrepreneur starting their small business with a loan and they still failed woefully on the business because most of them started their business with a higher interest loan .

 

[Smiles20]

Understanding your risk levels and how much you know about the business you are intending to start is going to tell me if taking a loan is actually worth it or not.

 

[Sotherefore]

Smaller business have a very slow progressing rate. How will you be able to generate less money to pay the loan without it affecting your business capital . That is where we have to start with.

 

[Good-Person]

Ha..if it is like that then it will be good enough for someone not to involve him or her self in some kind of business most especially companies business, because they do make people to pay interest in most things.

Not all the businesses involve paying or receiving interest, even though the trend of receiving and paying interest has increased a lot. You can simply start business with personal finance and avoid borrowing money from banks.

 

[Robust]

Understanding your risk levels and how much you know about the business you are intending to start is going to tell me if taking a loan is actually worth it or not.

Yeah.. it is not all small scale businesses that requires one to take a loan, some businesses like phone charging business and others, can be start with out taking any loan.

 

[Syldan]

Personally I think most of the well known booming business these days started with loan and as time goes on, there were able to settle it out. success depends on our hardworking and commitment.

 

[Smiles20]

Your business plan says a lot and gives you the confidence even to take loan in starting the business some time because you will certainly plan on how you will refund the loan without affecting the business.

Anybody that has a very good business plan and how he can be able to overcome challenges in the future is definitely somebody that is ideal to take up a business loan.

 

[Kvngsammy]

If it's necessary in taking out the loan then by all means go for it. Say there's a business opportunity that comes up and you feel it has the capacity to take you to another phase. But where it's for expansion, do not take it, rather grow your business and you'll expand organically soon

 

[Yohanna]

Actually everyone has a different opinion about starting or taking loan to run a business. As we all know, you can be successful through that and also run lost depending on how you plamned your market and how good it worked out for you.

The most important thing is that you should carry out a serious market research before lecturing on loan taking. Because it could be very detrimental at the end if you're unable to make payment.

 

[Shigobad20201]

The most important thing is that you should carry out a serious market research before lecturing on loan taking. Because it could be very detrimental at the end if you're unable to make payment.

Before starting a business , you need a good business strategy and you also need to carry out the necessary research to plan the future of the business and to know how to execute your plan .

 

[Danny4cash]

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?

Bank have a strict condition that must be met before they can give out a loan to person. They want to be sure the person they're giving their loan to has a job or business. A lot of people collect loan without means of paying back.

 

[Yohanna]

Before starting a business , you need a good business strategy and you also need to carry out the necessary research to plan the future of the business and to know how to execute your plan .

It is highly important for you to carry out a market analysis before you venture into taking loan for a business because the analysis will give you an insight on how to pay back the loan with ease.

 

[Danny4cash]

It is true that you can be successful when you take loan for business but it is not really advisable for you to take loan for this is most especially if it is a new one that it is still at the cradle.

Yes, it's not advisable to use loan to start a business when you don't other way of paying back. Even if your business is already established, don't take loan to expand it if you're not sure of other ways of paying back the money other than the business. Many multi millionaire are in debt because of what I just explained.

 

[Ononivami1]

Yes, it's not advisable to use loan to start a business when you don't other way of paying back. Even if your business is already established, don't take loan to expand it if you're not sure of other ways of paying back the money other than the business. Many multi millionaire are in debt because of what I just explained.

Before you take a loan I need to do a lot of analysis and plans so that you will be able to choose the one that will be suitable for you. The loan that you cannot pay back easily will end up ruining your life.