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Business Ideas Forum
Funding a business
Questions to ask before funding your business with a loan
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[QUOTE="Augusta, post: 251793, member: 25283"] When it comes to funding a business you need to take the best option so as to avoid ruining your business. The option that most times is available is loans but taking a loan is sometimes risky especially if it comes at a very high interest. This is why you need to ask yourself some pertinent questions and try to answer them convincingly and be sure it is okay with you before going ahead with the loan funding method. So what questions do you need to be convinced about before getting a loan. 1.Will this loan be enough? When once you are getting a loan find out how far the loan will help in achieving your aim. You don't need to get a loan with high interest that wouldn't even serve your purpose 2. Ask about the penalty of defaulting;You need to ask what the punishment would be if you default a little. Know that anything can happen and you might not just meet up. Would you be able to cope with the penalty. 3. Ask if it is necessary to take the loan: This is what you should ask yourself. Do I really need to take this loan. Your answer here will help you to know if you should go ahead or not. Whst do you think? [/QUOTE]
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Questions to ask before funding your business with a loan
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