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Should I borrow a Loan From a Bank to Start My Business
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[QUOTE="Kendy, post: 214754, member: 63869"] Taking loans is not completely out of place but before obtaining loans, you should always try to have a feasible business plan and always check other available alternatives before deciding to take loans and it is more advisable and secured to obtain loans from bank rather than through online loan apps where your details are at risk to third party. If you don not have a means of repayment or collateral which worths the loan or a good credit history, it will be difficult to obtain loans from traditional banks. It is more advisable that you have a crisis management technique where you can easily repay the loan which is free from pressure. Considering during the Corona virus pandemic, people who got loan prior to the time were unable to recover the loan not to talk of making profits because of the imposition of the total or partial lockdown to curb the common speed or spread of the virus. This went all out as an eye-opener to teach upcoming entrepreneurs that sourcing for loans is not always the best way to set up a business as the disadvantages would always supersede the merits or advantages. At times, it is even more profitable to start with the little savings that you have at hand. [/QUOTE]
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Should I borrow a Loan From a Bank to Start My Business
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