Do loan really helps people to start up a business?

vhinz

New member
Loan can definitely help to start a business if you don't have your own capital. It's called using Other Peoples Money (OPM). But you have to choose a loan that has little interest and can give you enough time to profit from your business so that you can gain and can pay off your loan. And before starting a business you have to study first your market. What kind of business you will put up. You also have to consider the place for your business. And of course that amount of capital you needed. And you also have to have an entrepreneurial mindset and skills when entering a business. Don't start a business that you don't really understand.
 

sweetpot81

New member
In some way Yes. Borrowing money from banks or other lending firm is the way to start or put up a business you want if you cannot afford the capital. Before borrowing money you should have a second plan, a stragety on how you gonna prosper your business. It's very common that business have it's ups and downs and we never can tell when it will happen. I strongly suggest that it should be accompanied with insurance upon putting up business. Whatever may happen there's part of the insurance that will surely help.
 
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achylles123

Guest
The bigger the business, the bigger the loan. Only very few businesses doesn't have loans. It' up to you how to make it work. At first, it might look like you are just making profit in order to payback your loans, so you need a great strategy. I would advise that you just take out a loan that is necessary to start your business, do not exceed the needed amount.
 
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Guest

Guest
First how will you start a business if you do not have a start up capital? Getting a loan is very risky especially when you consider the interest that you have to pay. I would advise that you open a small business that need a small capital and if you see that the business is making good money then you can apply for a loan from the bank like a bridge financing.
 

Haroon rasheed

New member
Yes loans really help to start a good business.Everyone should start a trending business after getting a loan from bank or any other company.Loans make a person strong to start a good business with new zeal and zest.
 

XZion

New member
Loan can help to start up business, if you really make use of the money well and also make sure that the business you want to go into is profitable and it can generate profit within a short period of time.
 

yahm2001

New member
Yes sir Fecoms, you say so. You just gain profit until you have just finished paying your credit. Need sacrifice first which I believe will get paid in the long run.
 
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