Business loan

[PICKFORD]

Do you want to start up a business and you don't have the capital to do so? Are you going for a loan? A lot of people around the world start up your own business with a loan and they are successful, getting a loan to start up any business isn't a bad idea, but you have to be calculate leave in order to settle your debt, managing your business,you must not spend unnecessarily,have everyday plan and target,also work towards your plan and target,by so doing i think you'll meet up with the loan you collected

It's ver easy to settle any loan,it all depends on the kind of business your starting up with using the loan,the location you established the business and also they people your are working with, establishing your business in a populated area will make everything easy,you must also be careful with the people working under you, being your relatives, because human being are funny,they may be finding a way to ruin your business pretending as if they are so devoted,but NO,so when getting loan for business,you must note some of this

 

[Jasz]

If you are starting a business on loan, you should be sure of what you are doing. You must have a good business plan. So at in the long run you will have a means of paying the money with running into any problem.

Unfortunately, it's not easy to obtain loan in some countries. You need a substantial collateral , a lot of requirements to meet. Nobody will just wake up and hand you a huge amount of money to start alone without you putting something on the table. So you should know what it takes to get a loan and the risks involved if you don't meet up at the end. We also have grants , I think that one is better if you can obtain one.

 

[Deleted member 28127]

You can start an enterprise with half of the material and then when working you complete the purchase of the rest of the material by the time when accomplishing sales but people want everything ready from the first day even they are incapable to pay the full part of the loan later first months of work.

 

[btaliat]

It is never a bad idea starting a business with loan but it is a bad idea if there is no plan on how the loan will be repaid. We should not obtain loan with the aim of repaying with the money makes from the business. This is because most time, business is not as easy we may think. Apart from management and other factors, there are some other factors that still determine success or failure if businesses. There may some unforseen circumstances which may cause the wrecked of the business. This is the reason why we should have alternative way of repaying the loan before going for it.

 

[Skysaint]

Starting a business with a loan isn't in itself a bad idea and as a matter of fact, many who actually did that succeeded and are doing fine in there business but that doesn't mean it doesn't have it's risks attached to it.
Those who actually take up loans most times do see it as their last option to starting up a business, because I don't think they will opt to take up loans when they have other alternatives. But the thing there is to be careful and calculative with taking loans just like you have clearly pointed out, because sometimes it create unnecessary pressure on you as a young business owner. We all know that first time business mostly suffer challenges and that's just the risk there but if you have a side plan on how to make repayments if your business were to fail you then you are good to go. Or better still save up money and start your business, I will always advise this.
Someone actually took loan to do drop shipping business this recent festive season and it worked for her because she knew the kind of business she wanted to do and was calculative about how to earn back her money.

 

[eldavis]

Yea I have heard about these so called business loans, they given to only does wanting to start a business for themselves. Looking at it form their own point of view, it is actually a good thing and a good way to help young entrepreneurs. Before making the choice of taking a loan, it would be best you make sure you understand what you are going into and that the business is worth it, I have seen cases of persons who took loans to startup a business for themselves but in the end the business did not produce profit.