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Should I borrow a Loan From a Bank to Start My Business
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[QUOTE="Kingsley, post: 242697, member: 30278"] Alot of people have found themselves in that position where they believe that the only way to get their business up and running is only through accessing loans from banks and even microfinance banks. But this is not always advisable mostly for a start up because at this time the business has not gather enough momentum to withstand the challenges that is associated with a new business. Even if the business owner has gathered some level of experience it will still be difficult for the owners to handle issues that might arise in the cause of running a fresh business because only a few people would have gotten information about the business hence patronage will be somewhat low for the time been. And remember loans will certainly generate interest and it has a time bound when repayments wound be expected hence it will cast somuch pressure on the business owners and the business itself. It is still better to partner with other investors with like minds. And also get a job and work for sometime to be able to gather some funds to support the business. Then if you must take the Loa, you must be prepared to work extremely hard to meet up the obligations. [/QUOTE]
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Should I borrow a Loan From a Bank to Start My Business
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