Bisolami
Verified member
Taking loans is one thing that has stuck into some people's brains and I don't think they will be able to get out of that anytime soon. Well, people take loans for different reasons but I am asking to know why we think that we can take loans for business. We need to know if this kind of thing is good or not. We need to know what will happen if we engage in such an activity.
Firstly, I do not like it when someone is starting a business with a loan. Starting a business with a loan is just like trying to test-run the business. When you want to test run something, you should do it with the little money you have and not a loan. If you use a loan for that and you lose your money, you may not be able to pay back the loan and it will put you in long-term debt. The sad thing is that you must have made an agreement with the loan company that you will pay on a particular date but that did not happen again.
But if you start a business with the money that you have and you support it with a loan while the business is going on, it will go well. Also, there is no particular answer to everything. It depends on the person and his knowledge about running a business.
It is not very important to take a loan for a business. It is not even something that I would love to do. Some people do it because they want their shops to be full of the market which is quite normal. I believe that your business can go on well without you taking a loan. Taking the loan will just make you pay some amount of money as interest and it may be the profit of your business.
Taking loans for business is good but not important.
Firstly, I do not like it when someone is starting a business with a loan. Starting a business with a loan is just like trying to test-run the business. When you want to test run something, you should do it with the little money you have and not a loan. If you use a loan for that and you lose your money, you may not be able to pay back the loan and it will put you in long-term debt. The sad thing is that you must have made an agreement with the loan company that you will pay on a particular date but that did not happen again.
But if you start a business with the money that you have and you support it with a loan while the business is going on, it will go well. Also, there is no particular answer to everything. It depends on the person and his knowledge about running a business.
It is not very important to take a loan for a business. It is not even something that I would love to do. Some people do it because they want their shops to be full of the market which is quite normal. I believe that your business can go on well without you taking a loan. Taking the loan will just make you pay some amount of money as interest and it may be the profit of your business.
Taking loans for business is good but not important.
