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Personal loan
Disadvantages of loans.
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[QUOTE="Kennysplash, post: 69911, member: 26385"] [LIST] [*]Larger loans will have certain terms and conditions or covenants that you must adhere to, such as the provision of quarterly management information. [*]Loans are not very flexible - you could be paying interest on funds you're not using. [*]You could have trouble making monthly repayments if your customers don't pay you promptly, causing [B]cashflow problems[/B]. [*]In some cases, loans are [B]secured[/B] against the assets of the business or your personal possessions, eg your home. The interest rates for secured loans may be lower than for unsecured ones, but your assets or home could be at risk if you cannot make the repayments. [*]There may be a charge if you want to repay the loan before the end of the loan term, particularly if the interest rate on the loan is fixed. [/LIST] [/QUOTE]
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Disadvantages of loans.
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