sincerem
VIP Contributor
I don't like the notion of taking loans for whatsoever. In as much as I say, I don't like engaging myself into loan, it doesn't mean, it will stay like that for me till time immemorial. Challenges unfold might occur in the future that is too demanding that might attempt me hard wanting to take loans to solve the pressing needs.
Even those who are into business at times, take's loan to keep their business afloat. Their are some points when some entrepreneurs have no choice but to take higher loan that carries high interest just to stay on with their business. But going for high interest rate of 60% is detrimental for any business initiative to repay back within short period of time.
To be frank with myself, no matter how such kind of need might press me so hard I can't take a loan that requires me to pay back with high interest of 60% within short period of time. I can consider loan repayment interest ranging from 5%-10% for short term period.
Even those who are into business at times, take's loan to keep their business afloat. Their are some points when some entrepreneurs have no choice but to take higher loan that carries high interest just to stay on with their business. But going for high interest rate of 60% is detrimental for any business initiative to repay back within short period of time.
To be frank with myself, no matter how such kind of need might press me so hard I can't take a loan that requires me to pay back with high interest of 60% within short period of time. I can consider loan repayment interest ranging from 5%-10% for short term period.