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Business Ideas Forum
Funding a business
The cons of getting a business loan
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[QUOTE="Augusta, post: 256460, member: 25283"] Taking a loan has two sides the pros and the cons. But the good thing about the bad sides of things is that sometimes the good overwhelm the bad. Like in this case of loan collection if you know that getting the loan will help you expand your business then you go ahead with it. For me I'm not even an advocate of loan collection especially if it is a new business because of the high interest that comes with it. You are yet to start a business and realize how profitable it will be and you are already thinking about paying back the profit. Getting a loan automatically make you a debtor until you are able to make the last repayment. it is not easy to make this repayment especially if you are working on a plan that need you to pay back almost immediately you would be really stressed while trying to make your business work. [/QUOTE]
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The cons of getting a business loan
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