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Business Ideas Forum
Funding a business
Does taking a loan to start a business end well?
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[QUOTE="btaliat, post: 239630, member: 26390"] Loan can be good or bad depending on the person that obtains it. There are people that always utilize the good usage of the obtained loans. They make sure they acount for every dime that they obtain. While there are some people that do have solid reasons for obtaining loan before they do. The first thing to know is to really be convinced if there is need for the loan. We should not just see loan as the last option. There should be adequate utilisation of other options apart from obtaining loan. If they didn't work, that's when loan should be used as the last resort. There should be strong conviction that the project to use the money for is very viable and feasible, if not, there should not be the reason for obtaining loan. I do see some people that do take loan to invest in ponzi business or some business that do not really have future. Not only will they lose their interest and capital, they will also be indebted. If the business is viable, then there should be provision for the repayment of the loan. There should be allowed ways of repaying the loan. This will reduce the chace of being indebted. [/QUOTE]
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Funding a business
Does taking a loan to start a business end well?
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