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Personal loan
Which is more advisable lending money from bank or friend?
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[QUOTE="sincerem, post: 244303, member: 25228"] [FONT=Courier New][B]If you have a friend that is willing to offer you loan for a business start up then,it is the best you can get. Because you true friend wouldn't charge you much when it comes to starting a business of your own and it wouldn't take you much process to get it. Not like the bank, where you'll undergo processes before you get the loan you asked for. I prefer taking from a friend than in the mortgage bank. But, majority of our friends wouldn't show up to us even if they have the money. Even from your own biological family is hard to come by, it isn't easy for anyone to lend you money for business start up. You can get from the mortgage bank, of you meet the criteria for their loan. But if you don't,you wouldn't get one. Most of their interest rate aren't high, but you should be wary of it's repayment date. Mortgages takes very serious of their loan repayment. Most mortgages charges extra fees as penalty when the deadline elapse. And also, it reduces your credit score, which means that, when your credit score is too low you get blacklisted from getting any new loan from any loan company. [/B][/FONT] [/QUOTE]
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Which is more advisable lending money from bank or friend?
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