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Business Ideas Forum
Funding a business
Factors to consider before getting a loan for your business
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[QUOTE="Abigael, post: 210105, member: 25357"] Those are very good points on what to consider before taking a loan from a loan lender. It is very good to examine the person or organisation lending you the money. If they are a bit suspicious, then you should steer clear. For example what you have mentioned about one hiding the fees is a clear red flag. They could be planning to exploit you. Then also check if you are really able to pay back. That is, the interest rate should be too much. Some loan lending companies, especially the private and non official ones like the shylocks usually exploit people alot by putting their interest rates to be insanely high. Moreover, you should really ensure that there is security with who you borrow. Some people and companies usually end up threatening the life of their borrowers when they default even a bit. Therefore, only borrow from people and companies who will not threaten your life when some circumstances in life lead you to default. Another important thing to consider when borrowing a loan is your own capacity to pay back. This is very important if you want to have a good financial stability. If you assess yourself well and what effort you are willing to give, you will know whether that loan suits you or not. [/QUOTE]
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Funding a business
Factors to consider before getting a loan for your business
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