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Personal loan
Am thinking of getting a loan
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[QUOTE="Abigael, post: 72177, member: 25357"] Taking a loan to start a business is not that bad if you have a good plan on how you will start and run the business. You should also have a clear plan on how you will pay back the loan. But in your situation, it seems that the loan will be more of a liability than an asset. The interest rate being too high can make it so hard for you to pay it back. Moreover, your business will not break even that easily with profits being used to pay back the loans. So you should let go of that business idea or look for an alternative source of capital. [/QUOTE]
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Am thinking of getting a loan
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