Join WebHostVoice Hosting Community Forum
Place your Ad here for $10.00 per Month!

Which is easy when we pay loan?

Kirubel

Kirubel

Veteran Member
Literary Virtuoso
Registered Member
Senior Contributor Master Contributor Elite Contributor First Like
Joined
Oct 22, 2023
Messages
4,482
Reaction score
411
D Bucks
💵1.412250
Referral Credit
0
Some times when we consider a business investment the first thing that comes to our mind is the budget and the money that we are going to invest, and some times it is very hard to fully fund our business plan so we take a loan from banks of from a person and we pay them with an interest.
But getting loan from banks is very hard and difficulty, the requirements of getting loan from banks is too much and they have many and many requirements but getting loan from a person is easy they don't need that much requirements in order to give you a loan, but when we think about paying the loan we take which is more easier and who understands us when we have some difficulty paying back the loan we took.
 
Starmix said:
When we apply for a bank loan there's an important project you want to accomplish or there's an investment needing additional capital. It's also your obligation to pay the bank to avoid interest surcharges.
Click to expand...
Yeah the bank loan have many requirements to prove the banks that we can afford to pay the land we took and also the interests, in my country they even property to hold in order to guaranty their loan.
 
Kirubel said:
Some times when we consider a business investment the first thing that comes to our mind is the budget and the money that we are going to invest, and some times it is very hard to fully fund our business plan so we take a loan from banks of from a person and we pay them with an interest.
But getting loan from banks is very hard and difficulty, the requirements of getting loan from banks is too much and they have many and many requirements but getting loan from a person is easy they don't need that much requirements in order to give you a loan, but when we think about paying the loan we take which is more easier and who understands us when we have some difficulty paying back the loan we took.
Click to expand...
That is true. The bank may be asking for too much and that is why we see that people prefer to take loans from loan applications
 
SHAHID987 said:
Taking loan from our close relative, friend or family members is much more easier in so many aspects. As when you return your loan, you just need to pay mostly the actual amount.
Click to expand...
You are right, getting a loan from our family and relatives or friends have many benefits then getting loan from bank or other person, because you don't have to pay an interest and they will understand us more than any person.
 
Suba said:
If you ask which is easier, of course taking a loan from someone else or an online loan without collateral. You only need an ID card and a bank account to receive the money, but you will regret it later, such as high interest and huge late payment fines.
Click to expand...
Yeah some loan offers have many consequence that comes after we get the loan and paying the loan and the interest will have some problem, in my countries there are privet organization which offer loan but in order to give you loan they hold your property and car, but when you try to pay the they increase the loan interest and makes you regrade.
 
Suba said:
Yes, in my country there is also a loan platform that only guarantees proof of motor vehicle ownership, not the physical car or motorbike, so that we can still use the vehicle as a means of daily transportation.
Click to expand...
When i say they hold a property and car i mean they hold the paper that tell that property is our, so we only use it for transportation but we sign agreement that says if we can't fully pay the loan and interest they have the right to take our properties.
 
Kirubel said:
Yeah the bank loan have many requirements to prove the banks that we can afford to pay the land we took and also the interests, in my country they even property to hold in order to guaranty their loan.
Click to expand...
When we apply for a bank loan, the bank requires collateral, our salary for example by showing to them the pay slips and we are also required to have at least two co-makers with good standing.
 
Starmix said:
When we apply for a bank loan, the bank requires collateral, our salary for example by showing to them the pay slips and we are also required to have at least two co-makers with good standing.
Click to expand...
That is true, i think the banks all around the world have similar working strategies when it comes to giving a loan to a person or a business group, also in my country they ask many documents in order to give a loan.
 
Kirubel said:
That is true, i think the banks all around the world have similar working strategies when it comes to giving a loan to a person or a business group, also in my country they ask many documents in order to give a loan.
Click to expand...
The bank just wants assurance in case the loaner escapes from the country or refuses to pay, so the collateral will be confiscated as payment. The co-makers will also be affected for they will be the ones to pay the loan of the maker.
 
SHAHID987 said:
Taking loan from our close relative, friend or family members is much more easier in so many aspects. As when you return your loan, you just need to pay mostly the actual amount.
Click to expand...
Taking a loan from our family members or relatives is a nice idea tho, but failure to repay the loan bring strain in family relationship.
 
Starmix said:
The bank just wants assurance in case the loaner escapes from the country or refuses to pay, so the collateral will be confiscated as payment. The co-makers will also be affected for they will be the ones to pay the loan of the maker.
Click to expand...
You are right, that is why the bank needs some property to hold on incase something bad happens to the person who toke a loan from them, they can sell the property and get their money from it.
 
Kirubel said:
You are right, that is why the bank needs some property to hold on incase something bad happens to the person who toke a loan from them, they can sell the property and get their money from it.
Click to expand...
Bank is strict in terms of loaning. It is one of their requirements to have a collateral and two co-makers to support the request of the applicant for an immediate loan. It is scary if apply for a bank loan.
 
Starmix said:
Bank is strict in terms of loaning. It is one of their requirements to have a collateral and two co-makers to support the request of the applicant for an immediate loan. It is scary if apply for a bank loan.
Click to expand...
You are right, they have a lots of rules and a lots of papers to sign, and the bad thing is that they can change their rules at any time and it is hard.
 
Kirubel said:
You are right, they have a lots of rules and a lots of papers to sign, and the bad thing is that they can change their rules at any time and it is hard.
Click to expand...
That's right and it's also hard to invite co - makers for a loan application. They're also afraid in case the maker can't pay, it's they to pay.
 
Starmix said:
That's right and it's also hard to invite co - makers for a loan application. They're also afraid in case the maker can't pay, it's they to pay.
Click to expand...
Yeah, personally i don't think about getting a loan if i am new business owner and if i don't have huge business, but if i have a huge companies and business i will try it because i will have the ability to pay the loan with the interest.
 
Kirubel said:
Yeah, personally i don't think about getting a loan if i am new business owner and if i don't have huge business, but if i have a huge companies and business i will try it because i will have the ability to pay the loan with the interest.
Click to expand...
We can apply for a bank loan and our collateral is our salary, however, the bank requires us to submit to them a cross-check with the supposed amount to pay monthly.
 
You must log in or register to reply here.
12,033Threads
92,819Messages
288Members
gwolf666Latest member
Top