sincerem
VIP Contributor
If the loan is well utilized, I don't see any infringement of taking a loan to start up a business. It only becomes a major issue if the terms isn't reached after repayment expiration date. That's when issues come up which wouldn't be a nice thing for the business owner to bear. If you can make up the loan at the right time and make a little profit out from your business, I believe their is nothing hindrance in it.
I can simply take a loan during a business start up which I've read and planned for sometime, knowing too well that, losses wouldn't come block my promise. But I wouldn't go for a loan I'll be paying in excess of interest after repayment due. That's why a borrower should look clearer before agreeing to any loan terms to avoid the misconception in the future or falling into blind agitation with the loan company over a loan which he or she never read it's terms clearly.
I can simply take a loan during a business start up which I've read and planned for sometime, knowing too well that, losses wouldn't come block my promise. But I wouldn't go for a loan I'll be paying in excess of interest after repayment due. That's why a borrower should look clearer before agreeing to any loan terms to avoid the misconception in the future or falling into blind agitation with the loan company over a loan which he or she never read it's terms clearly.