Maven Tiger
Member
@Ahmedo24 financial institutions doesn't just give loans, but they check if the business in question have the necessary requirements to secure such an amount.It is mostly advise by experts and also financial or lending institutions that start up should not take up loan but they should start up their business with personal savings , this is actually a fact because more 60% start up don't break even in their business before the stated time to start paying back loan so they become frustrated and eventually fold up.
However , if you have a stable business with full potentials you can easily take up loan infact lending institutions will rush to give you such loan because of their percentage profit, you can quickly use this loan invest or expand your business make double of that money in short time and return their money to them .This is the secret to most big and sucessful businesses so far.
Credit worthiness of the business will be properly studied by the institution to ascertain that the funds given to the business won't become a bad debt.