Would You Consider taking loan for your business?

[Salt]

There is no issue if we take a loan to expand or start our business but we need to make sure that our business will be a success otherwise it would be hard to repay and the debt starts growing very soon.

 

[Ernestnari]

You should consider how your business will succeed over time. And how well prepared you are to pay back

 

[Starmix]

It is a risk to take a loan for a business. The best way is to save first and start when seeing your savings as good enough to open the business you have passion about.

 

[Salt]

Many don't consider this good but according to me if you are confident then you should stick with your gut feeling and should take loan and start or expand your business

 

[Good-Person]

There is no issue if we take a loan to expand or start our business but we need to make sure that our business will be a success otherwise it would be hard to repay and the debt starts growing very soon.

I would never take loans at all because taking loans is very risky and apart from that, I dislike interest money, so I would never take a loan.

 

[Salt]

Even I am like you but I feel if we are planning to start a business and we are sure of its success then we should take this step

 

[Good-Person]

Even I am like you but I feel if we are planning to start a business and we are sure of its success then we should take this step

The fact remains that not all the people could be sure when it comes to achieving success. However, we could try. The fact remains that trying is much better than giving up.

 

[Starmix]

It is a very wrong idea to apply for a loan just to have the capital for a business. Go back to the basic that is to save first and when your saving is good enough to invest, then do it. Do not start a business or invest from debt because there is no assurance that your business grows fat right away. It needs months and years and the interest in a loan surcharges double.

 

[Bisolami]

There is no issue if we take a loan to expand or start our business but we need to make sure that our business will be a success otherwise it would be hard to repay and the debt starts growing very soon.

That is the truth but I don't think it will be advisable go start a business with a loan. I think it should only be used to continue a business.

 

[Salt]

The fact remains that not all the people could be sure when it comes to achieving success. However, we could try. The fact remains that trying is much better than giving up.

I am one of those that are against taking loan but what if you don't have any money and you have the idea to make good money and if you want you may lose the opportunity so in that case we need to take the loan

 

[Starmix]

I definitely disagree to apply for a loan for a business capital. I better borrow money to my wealthy relatives for there's no interest unlike loaning in a bank or agency, the interest is above the neck. And if failed to pay in a single month, the interest doubles.

 

[Good-Person]

I definitely disagree to apply for a loan for a business capital. I better borrow money to my wealthy relatives for there's no interest unlike loaning in a bank or agency, the interest is above the neck. And if failed to pay in a single month, the interest doubles.

Well, as I am saving more and more money, I would prefer to rely more on personal finance as this would enable me to become financially strong.

 

[Bisolami]

I am one of those that are against taking loan but what if you don't have any money and you have the idea to make good money if you want you may lose the opportunity so in that case we need to take the loan

I am even one of those people who are very scared to take loans. My mind will not be at rest so it is better I use my money to run the business. A loan seems not to be good for me.

 

[Starmix]

@Residualearner, yes, that is the best way to save more to have the capital for a business. It is unwise to apply for a bank loan or an agency. It is so risky, what if our business does not profit more and the loan is awaiting interest or partial payment? It is better to sacrifice saving before investing.

 

[Salt]

I am even one of those people who are very scared to take loans. My mind will not be at rest so it is better I use my money to run the business. A loan seems not to be good for me.

I can understand, we don't like more burden on our chest so its better to not take any sort of loan if we cannot handle that

 

[Kane]

I started three businesses with a bank loan and I made losses. It was a bad experience.

 

[Salt]

Sorry about it, What I like to convert is if we are sure about our success then its fine to take loan and take risk

 

[Bisolami]

@Residualearner, yes, that is the best way to save more to have the capital for a business. It is unwise to apply for a bank loan or an agency. It is so risky, what if our business does not profit more and the loan is awaiting interest or partial payment? It is better to sacrifice saving before investing.

Taking a loan for your business is very risky most especially when it is a new business. It is advisable to make use of your savings

 

[Salt]

This will mean that we won't be left with any money and will suffer more, I know you mean we don't need to pay interest on our own money but this way we are using all our money and that's risky too

 

[Bisolami]

This will mean that we won't be left with any money and will suffer more, I know you mean we don't need to pay interest on our own money but this way we are using all our money and that's risky too

It is very risky to involve yourself in a loan for your business. I prefer to run it with my money