Personal experience with funding a business with a loan

[Augusta]

I'm looking at getting a loan to start my business but I read a lot that it's isn't a wise idea. But has anyone here tried starting a business with a loan here and it was successful. please share your success tips

 

[Starmix]

I didn't start my business with a loan. I used my savings deposit. Before you apply for a loan make sure you already have the business you want to operate, business permit because the bank or private loan company may ask for it. Proceed mate, don't be afraid.

 

[eLdavis]

I don't have a personal experience cause I have never tired it, but I have seen a few persons who did. They are usually in a lot more pressure than does who did not use loans.

 

[freelancermaria]

I have not taken out a loan and I do not intend to do it. Take the time to do thorough research and weigh the pros and cons of taking out a loan.

 

[King Belieal]

I have had this experience in my early days in my business. It was very hard for me because I was under pressure. It was a weekly repayment plan. And the pressure was too much.

 

[Starmix]

I have had this experience in my early days in my business. It was very hard for me because I was under pressure. It was a weekly repayment plan. And the pressure was too much.

That was so hard for you to fully pay your loan. It's not easy it's best to avoid it as much possible to have a sound sleep.

 

[Suba]

If you are just starting a business, you don't know the picture or condition of your business in the future after starting it, if you finance this business with a loan then you will become stressed, unless you have run the same type of business and were successful but because of an unexpected event such as fire or natural disaster and your business goes bankrupt, you can start running the same business again with borrowed capital.

 

[Augusta]

I have had this experience in my early days in my business. It was very hard for me because I was under pressure. It was a weekly repayment plan. And the pressure was too much.

Yes, this is it. One bad thing is always the pressure. You wouldn't find it find when the lenders start pressuring you