Did anyone give you a cash loan to start your business or career?

[YERUS]

When you started your business, or whatever job you currently have, did you ever need to get a cash loan from a friend of business acquaintance? When I started off, I was offered money from a friend and a family member, but I decided not to accept as I didn't want to use their money. I wanted to do it on my own. It was hard, but I eventually got to a rhythm that works.

But, no judgement to anyone who needed a loan or starting cash from someone. If it helped get your business off the table, then all the power to ya.

Actually, my parents assisted me with some money to start up my business.
Besides that, i had to work hard to get enough money, add up to the one give to me by my parents to start up my business.

 

[Ghost]

I wish I could have someone who will give me a loan to start up my business but I have known at present. It can be very difficult to secure a loan over here. You will need a lot of collateral to secure a loan from the financial institution over here.

Not just collateral. They give out uncomfortable policies that wouldn't favour you and still, the idea of large interest already a red flag for me

 

[Bousine123]

I will not advice anyone to borrow from an individual to start up a business, it better to obtain loan from the government because there is no interest rate after borrowing.

 

[Toyoabasi]

When you started your business, or whatever job you currently have, did you ever need to get a cash loan from a friend of business acquaintance? When I started off, I was offered money from a friend and a family member, but I decided not to accept as I didn't want to use their money. I wanted to do it on my own. It was hard, but I eventually got to a rhythm that works.

But, no judgement to anyone who needed a loan or starting cash from someone. If it helped get your business off the table, then all the power to ya.

When you started your business, or whatever job you currently have, did you ever need to get a cash loan from a friend of business acquaintance? When I started off, I was offered money from a friend and a family member, but I decided not to accept as I didn't want to use their money. I wanted to do it on my own. It was hard, but I eventually got to a rhythm that works.

But, no judgement to anyone who needed a loan or starting cash from someone. If it helped get your business off the table, then all the power to ya.

No one assisted me with finances to start up my business.
I had to work for many months to realise the capital I needed to start up.
I wasn't comfortable with loaning money from banks or anyone.

 

[Adecyptii]

Collecting loan from bank or any business organization to start business seems obvious and risky,anything can happen such as business failure,and bank don't consider that as an excuse,it will be better for one to start business with the little he has.

 

[Nomad]

I funded my first business with the money I received from my friends and family, I funded my second business with a bank loan. sadly, my business collapsed. While I did not have to pay back to my friends, I did had to pay to the bank.

 

[Godspower]

This is actually better than borrowing from banks or financial institutions. Most family members or friends won't charge you high interests like banks and they may not even require collateral.

Well I got Money from my family members,it was a better option to getting a loan from the bank because I wasn't sure as to when I'll be able to pay it back

 

[Laurentta]

I don't own a business currently but i know there is this satisfaction one gets from using their own money to do something. Although if you want to start up a business and you don't have enough capital, there's nothing wrong in taking a loan from a friend ir family member, just make sure to pay back.

 

[Syldan]

Alot of people, have offered me a cash loan to start a business, but I rejected it. simply because I dont want to start a business with a borrowed money, this is because alot of my interest will go on servicing the loan and it interest.

 

[Wiserr]

not at all. i also don't want to take loans to start a business. I don't think it's a great idea to start up your business with loans. even if I'm offered loans I don't think I will take it.

 

[Lens]

I got loan to start my business and it eats deep into my business. Later I discovered that it's not advisable to start a new business with loans.

 

[Shigobad2020]

Yes, a friend of mine gave me a soft cash loan to start my catering business early this year, and it was very helpful at the time I got it but then, the third wave of covid 19 came and things took a different turn. It wasn't funny.

I was luck to get a soft loan when I wanted to start my business from a family friend , I was given a loan without any interest attracted to the loan, unlike people or loan shark that kills people with interest.

 

[Good-Person]

I am not willing to take loans. This is because taking loans has never been my cup of tea. I do not even buy products on credit and I try to pay people as soon as I can. So, I cannot imagine taking loans because taking loans drastically increase your chances of getting into bad debts.

 

[Syldan]

Well, I was given some good amount of money to start a business sometimes back. But I don't consider such amount as loan because it was given by my family members to start the business. Normal I don't and I can't accept loan from any body to start a business.

 

[Ononivami]

I obtained a loan to actualize my business dreams but at the end it was a fatal loss of money, time and effort. That is the major reason why I will never advise you to obtain loan to start a business.

 

[Godspower]

I obtained a loan to actualize my business dreams but at the end it was a fatal loss of money, time and effort. That is the major reason why I will never advise you to obtain loan to start a business.

So sorry for your loss. It is not advisable to obtain a loan from financial institutions for business. Their interest rates are usually high and most of them demand repayments within a very short time.

 

[CeeJase]

When you started your business, or whatever job you currently have, did you ever need to get a cash loan from a friend of business acquaintance? When I started off, I was offered money from a friend and a family member, but I decided not to accept as I didn't want to use their money. I wanted to do it on my own. It was hard, but I eventually got to a rhythm that works.

But, no judgement to anyone who needed a loan or starting cash from someone. If it helped get your business off the table, then all the power to ya.

Even if someone is willing to actually give me a cash loan for me to start up my business I would not really take it because I don't really want to put extra pressure on my new business in order to pay back the cash loan.

 

[Heatman]

I am not a fan of loans at all as I am of the belief that it would stop me from making real exploits in business, so I raise all the funds by myself.

Seriously nothing would ever make me to apply for personal or bank loan because I don't really have the energy to worry about paying back the loan when I am supposed to or forfeit my property that is used as a collateral.

 

[Good-Person]

I do not plan to apply for loans even though there are many organizations that do provide student loans to many students in case they want money to carry out their studies. I want to become self-sufficient by making my own money.

 

[Heatman]

I haven't been so lucky to get money from people or a loan.
All the capital I used in starting my crypto journey has been directly from sport betting.

When you don't have the financial capability to start up a new business, it's important to find all possibilities that would allow you to come in contact with the money needed.