Be aware of these facts before financially supporting a business.

[CALVINDOL]

Most times an individual could be in need of financial funds and assistance from others so as to facilitate his or her dying business . There is absolutely nothing wrong from receiving a financial funds or assistance from another , but before doing so , you literally have to display cautiousness and awareness , so as not to receive a financial fund or assistance from another which you do not have the requisite and full details about . First and foremost , you must be able to identify on what grounds is the financial funds been given to you , is it base on monthly or yearly interests , or is it to be refunded back to the assistor at a particular date and time . All these are important and necessary information and details you should be aware of before receiving financial funds from another individual .

Failure to have information and details like this , can totally put your business in a state of incurring unnecessary and unbearable consequences and repercussions what most of the time could be irreparable and irreversible . Do not let desperateness make you accept a financial funds with a bad or questionable deal backing it up . Another thing to be mindful about are question . Endeavour to ask the right and helpful questions to get proper details as well .

 

[TOZZIBLINKZ]

If you are kind enough to support a business established by another individual or if you are kind enough to support an infant industry or a newly established business then that is so kind , generous , and loving of you . But before doing so here are some things you need to find out in a particular business organisation even if it is newly established . First and foremost the business books of account should be on point and there should be a qualified personnel in charge of recording business transactions accurately and correctly so that when the need of referencing and retrieving business transaction information occurs it can be accurately done .

Second of all you must measure the profit making and the net profit of the business organisation has made possibly in the last business work in years or months . In this way you will be able to measure the possibility of the business to prosper and to become successful if you intend to help it with financial funds .

 

[eenya00]

this is one of the reasons you do not blame financial institutions like banks for failing to give loans to some of there customers as they might not be loan worthy or are what can be termed as financial risk.

there is a concept i normally use when giving out loan, and the concept is to make sure that if i am giving out a loan to anyone, be it a friend or a family member, i tend to access my risk and also on how to recover my money from you incase of unseen eventualities.

if i do not have a clear cut plan on how to go about it, then i would not release that sort of money to any individual, no matter how i am been sweet talked into the process of the business and the setup as well, this is to avoid issues and future confrontation that is expected to arise.

 

[saoussen5765]

this is one of the reasons you do not blame financial institutions like banks for failing to give loans to some of there customers as they might not be loan worthy or are what can be termed as financial risk.

there is a concept i normally use when giving out loan, and the concept is to make sure that if i am giving out a loan to anyone, be it a friend or a family member, i tend to access my risk and also on how to recover my money from you incase of unseen eventualities.

if i do not have a clear cut plan on how to go about it, then i would not release that sort of money to any individual, no matter how i am been sweet talked into the process of the business and the setup as well, this is to avoid issues and future confrontation that is expected to arise.

Bank has to study project before according a loan and if they find you are not sure to win after running project then they will never accord you a loan because also they have a team of experts to judge such project.

 

[eenya00]

in this same vein, i believe this is how we are suppose to behave regarding giving out loans to our friends, family or associate. except we do not intend on taking back the money, or it would result in a very bad blood.
let me give you an instance, there was a friend of mine that came to me with a business proposal and he had one of the best pitching but he had never done such business before in his entire life and here he was telling me to go all in with my savings, because of his grandeur idea, i refuse because i know he is not capable of keeping to what he is saying and this would definitely cause bad blood between the both of us.

at last, sadly i was right, he got the capital needed but the business failed and he was into more debt than before and this really messed his financial life.