Do you give out loan to people who are starting a business?

[Bookwormlux]

Sometimes we meet people who seek financial help from us as they are about to start a business, most times they request for loans. Do you give out to them, especially now that they are just starting and you don't know how profitable the business would be?

 

[Shigobad2020]

Giving out to people that just started their business without thinking about their business outcome is the best thing to do, I also received the same help when I started my own business. Lending a helping hand is the right thing to do.

 

[Sincerem]

Sometimes we meet people who seek financial help from us as they are about to start a business, most times they request for loans. Do you give out to them, especially now that they are just starting and you don't know how profitable the business would be?

If I'm in the position to offer loan and the person asking for it meets the requirements I'll offer it to him or her to assist his or her business to grow.

 

[Justin]

I would not say it a loan but I once lent some money to a friend who was trying to start a business. Thankfully, she made money and returned my money in 3 months.

 

[Nomad]

I am always short of funds when it comes to help other people who want to start a business. However, I have helped a couple of people in their business endeavor. Having said that I offer my management services free to my friends and family who want to start a business.

 

[Sariana23]

If the economic situation favors me, and I can reach out to help someone in this way I will do it, personally they have helped me a lot, not to start a business but to get out of a situation. This as long as the person is trustworthy and responsible!

 

[Nomad]

When you are giving loan to a people, make sure you are clear about repayment and interest. You should clearly tell the person how much interest you want and when you want the money back. If possible write down a contract. Otherwise, issues may arise later.

 

[Shigobad2020]

When you are giving loan to a people, make sure you are clear about repayment and interest. You should clearly tell the person how much interest you want and when you want the money back. If possible write down a contract. Otherwise, issues may arise later.

I believe co-operative society or loan sharks giving out loans to people who wanted to start a business are not many because the money will always be at risk,you only borrow to support business.

 

[Dowenship]

Sometimes we meet people who seek financial help from us as they are about to start a business, most times they request for loans. Do you give out to them, especially now that they are just starting and you don't know how profitable the business would be?

It depends on the person who came to me to seek financial help. I can't just give loan to anybody who either I don't know or doesn't have a business proposal of thier businesses.

 

[Kunkun]

Well I don't give out loans because you can't give out what you do not have but If I could I see no reason not to provided the idea is sound and could work out so it's will be like an investment

 

[Eodine]

I do not think that I am financially buoyant to help someone with a start up to know how well the business would grow but what I can do is help show them a good place they can lend from if I know.

 

[Alexandoy]

To be frank I am against getting a loan for starting up a business. If a close friend or relative is in that position I would probably help by giving a donation but not lending money. A borrowed money is putting a pressure on yourself even before the business has started. That will be an interference in the operation of the business.

 

[Nomad]

yes, money lending is a risky trade because you can lose you investment. Hoever, money lending can earn you a lot of interest. In my home country money lender charge upto 36 percent interest

 

[eLdavis]

If i have, and can at that moment, i would help out. Bit there are companies and organizations who give out loans to new business owners to help start up the business

 

[Eodine]

yes, money lending is a risky trade because you can lose you investment. Hoever, money lending can earn you a lot of interest. In my home country money lender charge upto 36 percent interest

But can you give a friend or family in need of a loan one? I would like to see input of varieties of people in this one so I can know because I may give out a loan if the business looks feasible to me.

 

[Bookwormlux]

It depends on the person who came to me to seek financial help. I can't just give loan to anybody who either I don't know or doesn't have a business proposal of thier businesses.

That's good to avoid stories that touch. Some people are dishonest and won't really start any business when you give them the money.

 

[Kingsley]

Am not a fan of borrowing or accessing loans but the truth is that if that is the last resort it is okay, now for a start up to begin with loan it is highly discouraged by me as it is too risky mostly when the person involved has so little understanding of the farm work of the business.

 

[tyrim88]

you can actually give out a loan grant to an up coming business,at least that will make them to kick start the process of money generation,that is if the business proposal is feasible and has high prospect of good returns.

 

[Kelly5]

I don't go about giving loans to persons i don't know simply because they request I help them.with it. I only give loans to friends or relatives i personally know

 

[Mostee501]

You know in life,some people are always in need of financial support so when you're in a position to open an investment for them do ensure to that.