What’s wrong about taking a business loan?

[Mika]

You start a business with the notion that you have the best idea and it will surely work. If you think your idea is not good and your business may not succeed, would you start a business, certainly not? Now, let’s use this very idea about getting a business loan. You are ready to start a business because you are sure it will be successful, if you are sure it will be successful, why are you afraid of taking a loan. If you are afraid of taking a business loan, it indicates that you do not actually believe that your business can be successful, and you also think that your idea is not so great.

Therefore, there is no need to become scared of a business loan if you are confident about your business plan. If you are scared of business loan, go back to research and build resources.

 

[Augusta]

Taking business loan to start a new business to me isn’t advisable. In most cases it doesn’t turn out well. This is a venture you are just starting out and you are bound to make mistakes. Forget about confidence especially on a terrain you are not used to. Experience is the best teacher

 

[funmi]

To me, I don't think there is anything wrong with taking a loan for business. In fact, it very good and it will make it easy for business owners to help boost the business. It is very rare for you to see a business owner who does not take a business Loan to support his or her business. Am not against taking a business loan.

 

[sincerem]

If the person taking a business loan is confident of succeeding on such business which he or she has taken advantage of by borrowing. Then it is worth it, taking the loan to start it up. But if the person who borrowed the loan can't make good use of it, even if, it is borrowed with reason of starting a business. Then at the end it fails, it will become a regrettable one. Cos the load of repayment will be enough on him or her to settle.

 

[Alexandoy]

When I started my retailing business I was overflowing with confidence because I did a thorough study of the business and I have a partner who is a salesman of the same products that I would be selling. I had a little shortage of capital so I invited friends to help me with some cash as their share of my business. I couldn't take a loan because that would put pressure on me.

 

[Sotherefore]

I always disagree with this idea because I don't usually consider it as the best idea for business because in the first place if you are thinking of going into a business and you don't have adequate preparation in terms of financial capability then there is no need for you to consider getting a loan because you might actually put yourself at a higher risk.

 

[PICKFORD]

Many people live in your own in order to start up their business luckily for them their business flourish and the repay the loan easily,but with that, I don't like the idea of getting a loan to start up a business, you may end up in prison because the business you get a loan to establish me not flourish and at the end of the day police will be looking for you.

 

[Sherman198]

Taken a business loan is not hard but what's hard is trying to have a plan to return the loan back.
If you are planning on taking a loan to start a business. You have to be very sure that, the business is one that can sell and yield substantial amount of profits. Because if you refuse to pay back the loan on time, your collateral is at risk.

 

[Jasmine]

There is nothing wrong with taking a loan to start a business, in fact taking a loan helps in many ways, for instance, you do not have to beg with your friends and family to help you fund a business, you do not have to take pain looking for investors, etc.