Augusta
VIP Contributor
I like that you are thinking about starting a business but I would have prefer you get some money from your family or friends than going for a loan. Getting from friends and family even if you will returned to them later, it without interest unlike having to get a loan that either collateral will be demanded or you will have to return with high interest.I am planning to start my online home business but I am short of capital. They say, start it with small capital but in baking, ingredients are a bit expensive and you have to buy it by bulk to save money. So I was thinking to sign up for a loan, Is loan really helpful in starting up a business? Please share your thoughts about this.
So you weigh your options well before thinking about getting a loan.Another option is getting these raw materials on credit then pay back after sale, this one will need you to be credit worthy.