Augusta
VIP Contributor
It is can be a delight to plan on getting a loan from either a bank or a financial house to start your business. But you need to consider the consequences that come with taking such a decision. They include the following:
- Consider yourself a debtor till you are able to remit the last cent of the loan
- Loans especially from banks comes at a high interest that might drown your profit
- You will be in deep stress, if you can’t meet up with the repayment plan
- You wouldn’t be able to operate the business at your own pace
- Your business might not still be functional after payment of the loan, since you might still need more money to operate