Would you start a business with a bank loan?

[Nomad]

Banks provide easy financing option for people who want to start a business but lack funds? Would you take a loan from banks to start a business? In case you wouldn't what are your reasons for not taking the loan? If you wouldn't take a loan from the banks and you don;t have funds for the business, how would you suppose to start your business, where do you seek funds?

 

[Augusta]

I'm no advocates of this but when other effective avenue of getting loans fails then you should go for the last resort which is trying the banks

 

[Fidelia]

I can't dare to complicate my life and my business by using a bank loan to start. That pressure ain't worth it.

 

[Min George]

I have seen businesses that were started with bank loans. Those businesses really had slow growth because of the loan repayment.

 

[Kera]

I have the option of taking a loan to start a business but I am not taking it. I am saving to start my business.

 

[Augusta]

if you are good with managing finance why not. You would still run your business to success but be sure before going for high interest loan

 

[King Belieal]

I can't for sure start a business with a bank loan. It would mean that I have to put money to paying of interests instead of developing the business.