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Business Ideas Forum
Funding a business
Benefit of getting a business loan
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[QUOTE="Richee84, post: 260393, member: 42448"] Loan is a financial support that act as backup for business, loan usually serve as a last resort for businesses if all other form of getting fund has fail. Though as good a loan can be it also has it own disadvantages but i here to talk about some of the merit of getting a loan for business purpose. For business expansion: For business that have move from introductory stage to growth stage where profit is steady, there will be need for the business to expand at that stage, getting a loan to expand the business will be very necessary if there is no enough fund on ground to fund the business for expansion. To fund start up business: Most people don't actually have enough savings ground to kick start what they have in mind, so the only option best available to them is to get loan from any of this financial institutions or cooperative. Though to me is not a wise thing to start a new business with money gotten from loan, cause as a new business it will face so many challenges at the early stage of it life cycle. The repayment of the loan back at that early stage will be a difficult thing to cope with. [/QUOTE]
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