Loan have it own advantages and it own disadvantages, it all depends on what the loan is use for. Loan are generally meant to improve the standard of living of individuals or to expand our business in order to make good profit. Loan are meat to be use as backup for business expansion, loan should not be use for newly established business as new business is bound to face different kind of challenges at the early stage which may make the repayment of loan to be very difficult for them at that early stage. Business at growth stage can make use of loan to expand it business in order to increase it income or profit. Business at the growth stage are seen as the best time in which they make enough profit, profit tend to be constant at the growth stage so therefore they will need to expand their business to compete favourable well among other competitors, because profit is constant at the growth stage, collecting loan for business expansion is a good thing to do as the means of payment is readily available. It is better to get a loan when the means of repayment is available or the loan should be better ignore.