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Personal loan
Reasons why you shouldn’t take loan
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[QUOTE="Rachael, post: 216882, member: 68963"] There are many reasons we should not take loans most especially when it has to do with setting up a business. Loans is one one of the fastest or quickest way in raising capital for a business but the aftermath is always unbearable. Taking up loans in demands a collateral and also has interest rates attached depending on the sum you applied for and the duration to repay the money. The disadvantages of taking loans always outweigh the advantages and it is always pressurizing. Some people are fund of taking loans and putting up their assets as a form of collateral and one disadvantage is that, when you fail to repay on time, the asset is retrieved from your ownership and it would be recorded as a bad credit history and this could affect your chances in taking or having access to loans in the future. Instead of taking loans, the habit of saving money should be encouraged because this can go a long way in solving our needs and borrowing from acquaintances would be preferable because there will be less pressure and at times, zero interest rates. I will not recommend taking of loans especially when there is no source of refund. [/QUOTE]
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Reasons why you shouldn’t take loan
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