Getting loan to finance a business

Martinsx

Active member
One thing that any business owner is looking for in the business is expanding over a small period of time because this is what guarantees increase in profit making in the business. Now, most times the fund to use for business expansion isn't always readily available because of some other expenses that are taken care of through the business.

It's a popular information that banks can offer loans to small scale business owners to expand their businesses with an interest to pay on the money when it's been paid back. I would like to know if it's a wise decision to take loans from banks or lending institutions to expand one's business?
 

JB Fernandez

New member
Expanding a business not always guarantee an increase in the profit. I would prefer to just focus on the small ones first, and then save the profit from it and used it for possible expansion in the future instead of having a loan from the bank. Aside from the interest that you need to pay, you also have a timetable for payment that needs to be followed. It is hard for a business that doesn't have a consistent income. So better saved than to avail a loan for business expansion.
 

peterradcliffe

New member
Small business owners no longer must rely on traditional banks for finding small business loans. From lines of credit to invoice financing, online lenders offer a variety of financing solutions at competitive interest rates.
 
when we start a business we need to finance our business. So we can take a loan to start our business. There are many banks which are ready to give small business loans or business loans but the bank needs some documents to be produced. so if one has the eligibility of qualifying the terms and conditions of the loan then his/her loan gets approved.
 

jamespeter

New member
Hi, seeking a loan from banks or any other financial institution is easy but making repayments on time and discipline toward money is important for every business owner. Yes, you can go for a loan when you are committed to paying when your affordable and really need money for an emergency financial crisis. Look for the best bank who can offer you a low-interest rate for resealable tenure.
 

hunter24

Member
Expanding a business not always guarantee an increase in the profit. I would prefer to just focus on the small ones first, and then save the profit from it and used it for possible expansion in the future instead of having a loan from the bank. Aside from the interest that you need to pay, you also have a timetable for payment that needs to be followed. It is hard for a business that doesn't have a consistent income. So better saved than to avail a loan for business expansion.

Agree!
Thats is much safer idea than gettin loans or credits...
 

Corzhens

Member
I have experienced borrowing money for added capital when I had my computer supplies retailing business. The bank is out of the question because it takes a long time and too many requirements before you can get an approved loan. I turned to friends and relatives but later on I had to borrow from usurers. They give you the money on the spot so there is not much hassle except when payment time comes the interest is quite high. I don't advise borrowing from lending companies that charge high interest rates.
 
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