What is the major challenge with getting loan for business

[Heatman]

Most people hardly feel comfortable with securing loans from banks as they feel it puts pressure on them due to the collateral attached . Are there no better ways to tackle this issue of being afraid to secure loans

There is no way you should be expecting banks or any other financial institutions to offer you financial assistance in form of loan without any collateral attached to it because it's the collateral that is going to push you to pay back the loan when it is due.

 

[Robert90]

Start-up firms are frequently viewed by conventional funding sources as being too young for loans. Additionally, it may be challenging for firms in riskier industries, like restaurants, to obtain loans. Another difficulty that firms may encounter when applying for a loan is a lack of collateral.

 

[joy101]

That's right, I would never borrow from a bank. they are too strict, if you pay for 24 months and in the last month something happens and you really can't pay, they don't look at this thing ... they take the thing that you put as a guarantor or you can end up in prison. I do not recommend loans from banks!

Getting a loan to start up a business the person would never feel comfortable when the loan is needed to pay back, that is why I don't like taking a loan to start up business, that's why I cannot recommend to take a loan start up business.

 

[Frank]

Most people hardly feel comfortable with securing loans from banks as they feel it puts pressure on them due to the collateral attached . Are there no better ways to tackle this issue of being afraid to secure loans

The economy is crumbling in my country and people are now faced not with the issue of getting loans, but how they can pay it. It is a very challenging period and there are times that those lending organizations end up not giving fair interest rates for those loans too.

 

[Heatman]

The economy is crumbling in my country and people are now faced not with the issue of getting loans, but how they can pay it. It is a very challenging period and there are times that those lending organizations end up not giving fair interest rates for those loans too.

Seriously, now is going to be a very wrong time for anyone to apply for any kind of financial loan from any banking institution or even private individual, because you don't know how things are going to work out with the loan that you are getting. Looking at what inflation is doing, the value of the money that you've got today is not going to be the same thing tomorrow which is already putting you in a loss.

 

[Good-Person]

Seriously, now is going to be a very wrong time for anyone to apply for any kind of financial loan from any banking institution or even private individual, because you don't know how things are going to work out with the loan that you are getting. Looking at what inflation is doing, the value of the money that you've got today is not going to be the same thing tomorrow which is already putting you in a loss.

One of the biggest challenges associated with obtaining loans is obviously extremely high interest rates, as everyone has pointed out. However, this is not the only challenge. many people never get their loans approved at all due to many different reasons. Mortgaging is also a big issue as well because the value of the mortgaged property may not carry a huge value.

 

[Heatman]

One of the biggest challenges associated with obtaining loans is obviously extremely high interest rates, as everyone has pointed out. However, this is not the only challenge. many people never get their loans approved at all due to many different reasons. Mortgaging is also a big issue as well because the value of the mortgaged property may not carry a huge value.

The simple truth is that banks will always do whatever is going to be necessary for them to make profit from approving any loan that is applied by any entrepreneur who is interested in taking their financial loan. This is the reason why they always have their interest to be very high so that they know that whenever you are paying the loan back, they will making a good profit from their business.

 

[Good-Person]

The simple truth is that banks will always do whatever is going to be necessary for them to make profit from approving any loan that is applied by any entrepreneur who is interested in taking their financial loan. This is the reason why they always have their interest to be very high so that they know that whenever you are paying the loan back, they will making a good profit from their business.

Banks consider mortgages in a really serious manner. Despite this, there are many other problems associated as well. One of the main aspects involve documentation s well. Banks may also charge high interest as well in case if they think that your business idea does seem profitable. This is why they get benefited a lot more than what you receive in the end. This I why I avoid commercial loans.

 

[Heatman]

Banks consider mortgages in a really serious manner. Despite this, there are many other problems associated as well. One of the main aspects involve documentation s well. Banks may also charge high interest as well in case if they think that your business idea does seem profitable. This is why they get benefited a lot more than what you receive in the end. This I why I avoid commercial loans.

Seriously, anything that is going to put me in a situation whereby I would be needing to apply for any kind of financial loan from the banking sector is something that I try as much as possible to avoid. I know how dangerous it is messing with a bank loan because, if anything goes wrong, you will find yourself in a very serious problem.

 

[Good-Person]

Seriously, anything that is going to put me in a situation whereby I would be needing to apply for any kind of financial loan from the banking sector is something that I try as much as possible to avoid. I know how dangerous it is messing with a bank loan because, if anything goes wrong, you will find yourself in a very serious problem.

Many people have suffered after borrowing loans. This is because they never used the money in the right manner. Having said that, when you borrow any kind of loan, you must understand the repercussions in case if you fail to pay the loan back.