Would you say that loans helped you start that business?

[Xtynehappy]

For me l can say that of all the business that l attempted using the loans did not make it to the goals. That because one works under pressure on repaying higher amount of money than the much you received to start the business. So the loans kept on consuming the business profits and at times eating up the capital which results into a bad ending.

 

[eLdavis]

I have not used loans to start a business before, but I know a lot of people who make use of loan for business startup.

 

[Springtime]

I do not own a business. If I want to start one, I may use a portion of my savings and then apply for government loans. The interest rate is much lower than that offered by banks. Of course, you have to meet with certain requirements to apply for government loan.

 

[King Belieal]

I can say for sure that one that when I tried to use loans to build my business, I struggled greatly.

 

[Xtynehappy]

Loans are not good sources for business capitals and l can say that one should avoid it at all costs

 

[kit_hung]

For me l can say that of all the business that l attempted using the loans did not make it to the goals. That because one works under pressure on repaying higher amount of money than the much you received to start the business. So the loans kept on consuming the business profits and at times eating up the capital which results into a bad ending.

I understand very well because starting a business with a loan chokes you before you even take a step. Interest starts eating up a little profit and then it affects the capital and things get ruined. It becomes like you are feeding an empty pit. Many people go through this fire, not just you. Often a loan helps when you already have a foot in it, but when starting a new business, it becomes a complete pressure. Don't feel like you have failed, it's just that the circumstances were very difficult.

 

[Augusta]

I don't like the idea of using loans to start a business. But if there's no capital one can gets a loan to start