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Borrowing loan for business establishment.
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[QUOTE="Richee84, post: 243941, member: 42448"] Borrowed money to established a business to me is not a good idea at all more especially if you are borrowing from financial institutions that have very strict law guiding their interest. There are some loan that can be borrow that have lower risk compare to the financial that can be helpful to establish a new business, this kind of loan can either come from family and friends. Loan from family and friend are very good loan that we can use to establish our new business because it attract or even have no interest rate to payback, the time and conditions of paying might even be documented and because of all this factors or charactiristics it have , there will no be unnecessary pressure to pay back as the borrower enjoy the advantage that the loan come fro! Family and friend. But to me it is better to have enough savings on ground that can help to finance the business and to also make sure it has the available resources on ground for paying back the loan in case the new is pull down by challenges. Having the mean to pay back can simply mean to focus on another source of income. [/QUOTE]
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Borrowing loan for business establishment.
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