Augusta
VIP Contributor
The truth is that you can get your business funding from diverse ways but with bank comes more advantages than other sources. You would enjoy better bank loans because of the below importance.
Business growth is eminent:
With bank loan you would be able to take out your business plan without delay. If you needed millions to expand your business or start it, With the right collateral you would be able to start almost immediately. This is because the bank would offer you the loan as soon as possible.
Keep control of your business
Unlike other financing ways like equity finance, you would have to sell shares to the general public which when bought the buyers become co-owners i.e. share holders in the business. so you no longer have a full control over your business.
Lending from a good reputation
Banks always have good reputation, because they need to maintain their name and customers. so borrowing from banks will give you the integrity you need. So you wouldn’t need to be scare borrowing from them
No bank interference
With bank loan comes no restrictions or limitations on how you run your business, when once you are meeting your repayment plan. You are going to run your business smoothly. Even if you want to change your business plan you can go ahead provided you are making your repayment
Benefits other services from the bank
You would be offered other extra services from the bank like provided with personal advisor that will help you scale through the repayment period without hassles
What other benefits do you think can be derive from getting loans from banks?
Business growth is eminent:
With bank loan you would be able to take out your business plan without delay. If you needed millions to expand your business or start it, With the right collateral you would be able to start almost immediately. This is because the bank would offer you the loan as soon as possible.
Keep control of your business
Unlike other financing ways like equity finance, you would have to sell shares to the general public which when bought the buyers become co-owners i.e. share holders in the business. so you no longer have a full control over your business.
Lending from a good reputation
Banks always have good reputation, because they need to maintain their name and customers. so borrowing from banks will give you the integrity you need. So you wouldn’t need to be scare borrowing from them
No bank interference
With bank loan comes no restrictions or limitations on how you run your business, when once you are meeting your repayment plan. You are going to run your business smoothly. Even if you want to change your business plan you can go ahead provided you are making your repayment
Benefits other services from the bank
You would be offered other extra services from the bank like provided with personal advisor that will help you scale through the repayment period without hassles
What other benefits do you think can be derive from getting loans from banks?