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Personal loan
Reasons why loans are not suitable for business
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[QUOTE="Abigael, post: 222375, member: 25357"] These reasons sound so genuine. There are many disadvantages of taking Loan for a business. Which comes most especially to people who don't plan well before getting into business. They end up getting caught up in debt and a business that is not going well. The most disadvantage being that you will be going through so much pressure and anxiety to pay back the loan. This kind of stress will hinder how you run the business. Most times, you will find that you are not really paying attention to the tasks that you need to do in order to achieve business goals. Moreover, taking a loan when starting a business is not an easy process. Most loan lending institutions do not trust business startups. They mostly prefer businesses that are already established and are looking for money to expand the business. So if you only rely on loan to start a business, you may end up not succeeding. Given these disadvantages, it would be best to start the business with other sources of income. This may include your own income, selling something that you don't use anymore or asking for funds to be raised from family and friends. That way, you avoid the hassles of starting a business with a loan. [/QUOTE]
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