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Personal loan
Reasons why loans are not suitable for business
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[QUOTE="Kingsley, post: 221968, member: 30278"] That's is indeed very correct, I have a friend who is currently struggling right now as a result of dabbling with loans in his small business, a year ago he told me of his plans of opening a shop and start thr said said drinks in crate and carton prices. And I asked him if he had done such before and he does not really have much ideas on that but had made some enquiries from experienced people in the business, and he said he had made up his minds to do it. So I gave him my blessings and he began sometimes last year in fact in less than 3 months the business was really booming and he began to add other products aswel. But sometimes late last year I began to notice hiw he was accessing loans mostly from loan applications and i was wondering why but he kept justifying his purpose of taking those loans. Now the loans have started to eat him and his business up. He virtually does anything without loans now. And to worse his capital is almost becoming principal to loans. And his profit are all calculated to pay up interest. Now I have adviced him not to go for loans again. [/QUOTE]
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