Small business loan?

[Paul Abel]

I have never taken any loan for whatsoever reason at all and I think because I am scared of doing that. Actually I do not mean to say that it is bad to take loans or I won't take any but I won't for now.

 

[Floura]

For me I don't subscribe to the idea of taking loans to start up a business, I rather start gradually than to take loans, starting up a business with loans is not a good idea.

 

[ghxstvecna]

Secured loans require collateral to back up the amount of the loan, meaning you could lose what you put up if you fail to pay in full, Unsecured loans are granted to companies with solid credit ratings and may offer lower interest rates than secured loans.

 

[Robust]

I have seen people making it big when they start a business with a loan , you need a detailed plan on how to start the business and how ro keep paying back the loan in a way that will not affect the business.

Yes that is the great land that one who want to borrow a loan to start a business should do make sure you should have a way of paying back the money so that it will not affect your business in any way.

 

[Yohanna]

Secured loans require collateral to back up the amount of the loan, meaning you could lose what you put up if you fail to pay in full, Unsecured loans are granted to companies with solid credit ratings and may offer lower interest rates than secured loans.

A secured loan is better because you will have access to larger sum of money.
Taking loan is a thing that must be done with a lot of plan because it could be catastrophic if proper plan is not laid.

 

[Georgeadawara1]

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.

Yes for sure it's very risky to use a loan in other to start any business, even though at the end of the business you will earn profit, but at least it's very advisable to use your own hard earn money to start business.

 

[frederick_9]

Once you have a strong company plan, taking out a small business loan to launch your own small business is not a bad idea.
Such a sum of money can be returned to the lender without any problems.

 

[Immilash1]

Yes for sure it's very risky to use a loan in other to start any business, even though at the end of the business you will earn profit, but at least it's very advisable to use your own hard earn money to start business.

I don't subscribe to the idea of getting a loan in other to start up a business, if you want to start up a business I think it will be a good idea to start it with the little amount of money you have.

 

[Smiles20]

You really have to be very careful whenever you are taking loans and one of the things to check out is the amount of money you have to pay and the duration because it can be very bad for your business.

 

[Ononivami1]

You really have to be very careful whenever you are taking loans and one of the things to check out is the amount of money you have to pay and the duration because it can be very bad for your business.

The bottom line is that you need to calculate the loan and the amount of profit you are expected to make from the business before taking it . If you aren't calculating very well, you may end up making repayments with the business capital.

 

[Ronald]

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?

Going for a business loan is only a good decision if you are confident enough in your business plan and the strategies you are about to employ. The strategies are essential because it is ideal to gain profit early in order to settle the loan quickly without any form of defaulting.

 

[Syldan]

Well there are some several reasons why I don't wished to or advise people to start a business with loan because it's very risk most especially when the business could not workes out well for you.

 

[Robust]

I know of most people that have small businesses and try to get a loan for themselves to make their business to grow bigger as they wanted and paying back the loan without it affecting their businesses..

 

[Shigobad20201]

For me I don't subscribe to the idea of taking loans to start up a business, I rather start gradually than to take loans, starting up a business with loans is not a good idea.

Start with your own money is rather better than going for a loan to start a business , I even prefer crowdfunding to start something because its better than loans .

 

[Syldan]

Actually I can decide to take loan in other to start a business even though I know it's very risky but based on the fact that I have better ways to refund the money even if the business could not worked out well.

 

[Shigobad20201]

I have never taken any loan for whatsoever reason at all and I think because I am scared of doing that. Actually I do not mean to say that it is bad to take loans or I won't take any but I won't for now.

I have taken a loan once online and I regrets taking the loan for many reason , since then i hate the idea of resorting into loan to start a business either online or offline.

 

[Laurentta]

I have never taken a small business loan from the bank or any other loan facility. I guess the bank would need a business plan, as proof that you actually want to start a business before they lend you money.

 

[Floura]

Start with your own money is rather better than going for a loan to start a business , I even prefer crowdfunding to start something because its better than loans .

That's just it, I also don't like that idea, if there's a way that you can use to generate your own income I think that will be a good idea than to take loans.

 

[GIFTMICHAEL]

If you have no money to start a business then there is option of loan you can take the loan and start up your business but if you have money and you want more money to start up your business then don't do this don't take loan and start your business with loan your because this is very and inappropriate to earn money or profit however loan companies take advantage of this and they take 22 to 40% extra money what they have given to us so our Profit will be go there so we should avoid this kind of loan to start up the business just start with your own savings.

 

[Chibson]

It is even highly possible to be highly successful with loan if you start a business with it and have a good and great plan regarding such business.

many businesses around the world have been able to succeed with loans. What matters is proper planning and execution of your plans and of course some level of luck.