To loan For Business or not?

Status
Not open for further replies.

waad32

New member
Yes, it's borrowing money is really a hard decision. I have to think hard first before making a decision. Maybe, I'll try to ask help from relatives first. Anyway thank you for the advice.
 

junrose123

New member
I think it is a very hard decision to borrow funds to start a business. We all know that starting a business with a credit loan is something that we must think about it. Honestly, I really don't like to a start a business that the capital was raised through a bank or other types of loan because I am afraid that all the fruits of my hard earned sacrifice would just go into the payment for the interest of the loan. As long as possible we should avoid making a loan credit especially when we are just new or just starting up in the business industry. It is much better to receive your hard earned money as full rather than just a percentage already due to some deductions for the credit loan.
 

edenmae29

New member
Loan is actually the last option that I would consider because we are aware of the huge interest percentage that will be added plus the processing fees to be deducted on the actual loanable amount. So basically you lose before you can even start up your business. If ever you will opt to applying for loans make sure that it will be for an amount that you can surely pay. You won't like having 80% of your sales for loan payments. For payment arrangements choose the shorter term to lessen the interest charged by the loan company, because the longer the term is, the higher the charges. So these are some advice that I can share with you. Goodluck to your business.
 
Status
Not open for further replies.
Top