Bookwormlux
Valued Contributor
When it comes to sources where one can get money to run a project or establish a business, banks tend to be a better option because they are registered with government agencies and trusted, so you are sure of the fact that you ain't collecting illegal funds that may be proceeds of fraudulent activities as it is the case with taking loan from individuals (especially those who have no formal source of income).
Despite the fact that banks are trusted, I still read negative things about the happenings with taking loan from banks. Some of which are; high interest rate, especially when you are not able to repay in time, they do not take it likely with defaulters and would do away with your property you used as collateral.
What do you think, is taking loan from banks a good option?
Despite the fact that banks are trusted, I still read negative things about the happenings with taking loan from banks. Some of which are; high interest rate, especially when you are not able to repay in time, they do not take it likely with defaulters and would do away with your property you used as collateral.
What do you think, is taking loan from banks a good option?