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Is this the only way to start a business with a loan ?
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[QUOTE="kayode10, post: 214791, member: 26899"] Loan is a double-edged sword. If you use it properly you are going to sleep a lot of benefits. And if you misuse loan, it can ruin your business and you will end up filing for bankruptcy overtime. It is too risky to start your business with loan if you are just starting out with no experience. there is a chances that you are going to lose the entire loan and the capital and this game plan due into further debt. You will not make money with your business and you will end up paying the loan once the business is no more. The best thing is to go for safer route when you are setting up a business instead of taking a loan from the financial institution. You can bootstrap your business idea. you are going to set aside some fund which you are going to finance The Business when you are sorting out. if you think this will take you a long period of time you can see please look out for a partner who is having a fund ready to support your business idea. You just have to come up with a plan and agreement on how you are going to share profit. [/QUOTE]
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Is this the only way to start a business with a loan ?
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