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Personal loan
The stress of Starting a business with a loan
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[QUOTE="Rachael, post: 217027, member: 68963"] The stress of taking up a loan in starting a business can only be well explained by the business owner who has a direct experience. I do not recommend obtaining loans for startup businesses and this is because of the stress and pressure attached with it. Taking up loans to start a business is not always the only alternative or option but it mostly preferable because of easy access to it. Crowdfunding, grants, empowerments, through personal savings, could always be more pragmatic. In fact, even though you want to take loans to start a business, it is better to take only half the total sum of the capital required and add it up wit your personal savings than just taking the whole capital through loans. The challenge is not always with obtaining loans because we have the; banks, online loan apps, money lenders, just to name a few nut the major challenge is when it is time or due date to repay. Some business owners make the mistake of choosing to pay the whole debt at once which makes them end up with bad debts because a problem can arise from any angle that needs immediate urgency and the money would be utilized. It is best to always repay the loan in bits so it does not affect the growth of the business. [/QUOTE]
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The stress of Starting a business with a loan
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