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Personal loan
Reasons why loans are not suitable for business
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[QUOTE="funmi, post: 224939, member: 38880"] Loans are indeed not suitable for business mostly at the start up stage as it just ends up decreasing the opportunities of the business growing. What interest loan does is to kill the profit of the business and this also affect the business owner psychological as even the capital that is with the business owner will later become the principal that will be paid back. I was working with a lady that was well to do financial but I later discovered that she was accessing loans somewhere and I made that discovery when she told me that she needed my assistance and wanted me to stand in for her as her guarantor. That was when I knew she was still accessing loans to.support the business despite all the funds she gets from her husband who is also earning so well. After some.years I had to relocate. So I later checked on her to see how the business is doing. But to my greatest amusements the business had folded up because she later got seriously indebted and was forced to shutdown and her husband was seriously disappointed because he never knew the wife was accessing loans and he decided to withdrew his support. [/QUOTE]
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Reasons why loans are not suitable for business
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