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Business Ideas Forum
Funding a business
Getting a Business Loan: Private Lenders Vs. Banks
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[QUOTE="Mika, post: 338801, member: 29399"] While you are relieved form paper works when you are borrowing from private lenders, you will be paying a very high interest rates. You also need to provide some sort of collateral as a security. When they get collateral, they will always under value your asset, and when you fail to pay back they will immediately seize your assets. Some private lenders are also notorious for converting your payable interest to principal amount, thus making you pay higher amount. Business loans always need to be secured through banks. [/QUOTE]
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Funding a business
Getting a Business Loan: Private Lenders Vs. Banks
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