Borrowing loan for business establishment.

[CALVINDOL]

If I need to be sincere and honest about the topic of this thread I don't want to first of all point out that I personally do not acknowledge and recommend any individual to establish his or her business with money borrowed from the bank or with money borrowed from other individuals possibly his or her family members , friends , or colleague etc . Sometimes a person may be the only individual that he or she has in the world he probably does not have any close person that he can ask for a particular some of money to establish a business of his or hers . And so such individual may think that borrowing money from the bank is actually a proper and wise solution at the moment .

If you have no other choice than to borrow money possibly from the bank or from other clothes individuals to you in order to establish your business it is probably mandatory to ask yourself this question . How am I to pay back if the business I want to establish with this loan totally does not work out as planned or expected ? Your sincere and true answers to this question will totally proof whether you should go for a loan or not .

 

[TOZZIBLINKZ]

Me as well I do not encourage any individual to borrow money possibly from the bank or from other individuals so as to establish a business that he or she has in mind . The original way of establishing a business is by using the capital which you have accumulated possibly as a result of working online or as a result of being an apprentice to another individual . But sometimes this original way of establishing a business or the original way of generating business capital to establish a business maybe shut off . And so in the face of situation like this didn't work may have no other choice than to borrow money or possibly from business Banks or from other individuals and promise to pay back when due .

Borrowing money to establish a business is actually not advisable in itself but what really is advisable is for us to ask myself what are the possible ways that we are to pay back the loan if the intention that we are borrowing the loan for does not turn out as planned or as expected . The answer that we give to our self as a result of answering this the question will actually tell us whether we should actually go for the loan or not .

 

[TOZZIBLINKZ]

Me as well I do not encourage any individual to borrow money possibly from the bank or from other individuals so as to establish a business that he or she has in mind . The original way of establishing a business is by using the capital which you have accumulated possibly as a result of working online or as a result of being an apprentice to another individual . But sometimes this original way of establishing a business or the original way of generating business capital to establish a business maybe shut off . And so in the face of situation like this didn't work may have no other choice than to borrow money or possibly from business Banks or from other individuals and promise to pay back when due .

Borrowing money to establish a business is actually not advisable in itself but what really is advisable is for us to ask myself what are the possible ways that we are to pay back the loan if the intention that we are borrowing the loan for does not turn out as planned or as expected . The answer that we give to our self as a result of answering this the question will actually tell us whether we should actually go for the loan or not

 

[Richee84]

Borrowed money to established a business to me is not a good idea at all more especially if you are borrowing from financial institutions that have very strict law guiding their interest. There are some loan that can be borrow that have lower risk compare to the financial that can be helpful to establish a new business, this kind of loan can either come from family and friends. Loan from family and friend are very good loan that we can use to establish our new business because it attract or even have no interest rate to payback, the time and conditions of paying might even be documented and because of all this factors or charactiristics it have , there will no be unnecessary pressure to pay back as the borrower enjoy the advantage that the loan come fro! Family and friend. But to me it is better to have enough savings on ground that can help to finance the business and to also make sure it has the available resources on ground for paying back the loan in case the new is pull down by challenges. Having the mean to pay back can simply mean to focus on another source of income.

 

[Oluwasegun purpose]

Borrowing money to start up a business or to establish it ,it is not advisable at all.let talk about starting a business with a loan from is not good because when u talk about your capital that money which you borrow is your capital and using loan as your capital don't always make business to move and grow instead for the the business growing it we be going down and most time all your goods will end up in the hands of debtors and if you are using loan money to start a business in that business of yours when expecting profit you we be seeing losses in your business and no one we want to be seeing losses in his or her business so don't try using loan to start up a business... when talking about establishing your business that too is not a good idea because it is like starting a business with it instead using loan to establish your business why have you not been saving when you just started the business that is why most people need to be saving money if you are a business owner so to avoid something like this later because using anything called loan in a business a very bad...