So nowadays there are lots of lending online apps and offline loan facilities everywhere in the world.
So can you really take loans for making investments with?
So can you really take loans for making investments with?
Loans for investing
- Thread starter Stardom22
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It is a very bad idea. Investment is two way journey. There is no sure investment. Any investment can crash. Therefore, it is better to invest what you can afford to lose. Borrowing to finance investment is one of worst financial idea ever.
Actually, there is no prohibition against taking out a loan to invest, but it is best if you already have skills and experience in that field, and it would be better if you use the loan as additional capital to improve your business, not to build a business from scratch.
eLdavis
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These days taking loans has become a lot easier compared to back then due to the fact that we have so many lending apps. But personally I doubt I would want to take loans for any kind of investment. In a situation where the investment might not go as planned, it means I will have to find a way to pay back the loan.
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If you want to establish a business, getting a loan may not be the best option. Starting a business is risky, and if it fails, how will you repay your loan? It is preferable to establish a business with the money you saved.
