How can we control action of lender against borrower from been too harsh.

[Richee84]

People perception about loan differs in so many ways, some see loan as good boost to business if well utilize while some see it as a bad thing to take for the easy of doing business. One of the way to fund a business is taking from family member, friends and frim financial institutions, but the stringent conditions by most of the financial institutions has make so many people to have bad perception about taking loan to do business. By and large loan can be very helpful to boost and expand businesses for those that use the loan for the purpose for which it's been collected for.
Despite the stringent condition for collecting loan from financial institutions, most business owner still find out that taking loan from financial institutions to support their business is the last option for them despite the difficulties and challenges paying back. I have spoken to several people who after collecting loan to support their business but their business end up folding up as they were unable to meet up the repayment term and the financial institutions recover back from them properties that is worth the amount borrowed from then. They see this financial institutions as very wicked for their actions towards them if they fail to meet up their repayment term.
What's ur take on this

 

[Augusta]

We can't do much since it is their money. You either abide with their conditions or you let go. But if you can go into negotiation with them to be able to get a favourable response then it all good. But these harsh conditions helps to scare people that can't pay back away. Loans needs strict rules