Loan for business

[CALVINDOL]

Getting loan to start up a business,is it a good idea?well it all depends on the kind of business you have in mind,and also they amount you wish to collect, getting loan to start business will be successful if only you will be positive in your business,have a plan each day against the debt.

What do you think about that?

 

[Deleted member 28127]

First of all, I could warn you that getting a loan from a loan app to get starting a business is a lot of risks because you should either take a loan from banks or relatives not from a loan app unless it is reputable and most trusted, avoid online scams of telegram or WhatsApp lender of money because they are just scammers.

 

[Kevin M M]

I think that each of these funding options have certain advantages and disadvantages based on the entrepreneur’s funding need, business stage, and financial standing. A traditional bank offers small business loans, but may not be as comfortable with the risk levels associated with startups. For those startups, an alternative online business loan might be a better option. The Small Business Administration is also more comfortable with startup needs and capabilities. Research all the small business loan options available to you before making a decision.

 

[btaliat]

No matter how feasible the business one has in mind, loan is not the right option to raise money for business. Business is always two ways and it can go either way,it is either it is profitable or we lose at it. Apart from this, there are many other factors that can make a business goal not to be achieved or delay before being achieved. For instance, there may be natural disasters that may hinder the growth of a business. Imagine those that borrowed to start business during the COVID-19.

 

[Mataracy]

Yes ! it is a good idea to collect loan for business or to support business in the sense test if its a good business.

One cab collect loan for any good business and use it to make good profit if it is well manage . one can use lian to expand the already made business .

 

[Onetech]

Short time Ang long time loans are good depending on the profit from the investment. Make sure you have a good payment plan before taking a loan.

 

[eldavis]

These days people tend to opt for getting loans cause they feel it's way easier to do and less stressful, but personally I won't even advice anyone to go for loans. What happens when the business do not go as planned? These days notting is certain, anything can happen at anytime
If the business do not go as planned, how do you pay back? It's better to either save up the capital for your business startup, start small then from there grow the business.

 

[Skysaint]

Starting up a business with a loan isn't a bad idea anyway but that doesn't make it the best option for one to fund their business startups. I would personally ad use anyone against that idea of taking loans as it will be detrimental to them in the long run especially if the business they want to go into ends up not succeeding.
It is much better to hustle and find your business than depending on an external factor, just that in most cases it might mean that you have to start small but I think it's better than the loan option.
Loans as many business men do say is for development, that is, developing an already existing business that actually proves to be lucrative and not for start up something you aren't sure if it is going to thrive or not.
And if ever you want to take loans I will suggest we go the offline method because most of these online loan app ain't to be trusted. I have heard many regret stories from many who tried taking loans online.

 

[Kingsley]

Accessing loan in itself for business purpose or any other purpose is not a bad idea as long as there is a means to payback the loan. Without having a viable means of paying back the loan then it is not advisable to access any loan. That said, I will also like to add that it is not advisable to start a business with loan. Because at that point the business has not gain any experience and it is still very much in it infact stage. It will be better to allow the business to grow for sometime before making attempts of accessing loan for the purpose of running the business.