Would you use loan app to generate money for your business?

[Ja sa bong]

[No message]

 

[Heatman]

I don't feel comfortable making use of any kind of loans to run my business. I have never applied for loan for any reason whatsoever and I'm definitely not going to start doing it now.

If I need financial assistance, I will ask for it from my family but never from a financial institutions like banks and the rest.

 

[Henrywrites]

This is a risky move to make. I can't even see it as something that is feasible at all in the long-term. How do you plan to pay when the loan amount becomes too much for you? That is one of those things we should really have a look at.

 

[Kane1]

Using a loan app can quickly fund your business. Pros include fast approval, easy access, and no collateral. However, cons include high interest rates, potential debt traps, and short repayment terms. It's convenient for urgent needs but risky if not managed well. Always read terms carefully and ensure you can repay on time. As far as I am concerned, I would never use loan app

 

[Zion2]

Using loan apps offers convenience and accessibility, allowing quick access to funds for emergencies or unexpected expenses. They often have minimal eligibility criteria and offer speedy approval processes. However, they come with high-interest rates and fees, potentially leading to a cycle of debt if not managed responsibly. Privacy and security concerns may arise, as some apps require access to personal financial information and may lack robust data protection measures.

 

[Enyi]

Financial assistance for businesses needs personal savings or from my family but not financial institutions, banks or loan apps due to high interest rate