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

[Solutionav]

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?

Given out loan to people who are starting up business is good but not every body you can give loan to, some person you need to see there business plan to know if they are serious

 

[Timfak]

I do give loan to people to start there business. But I don't just give out loan like that, I only give it to those I know and trust. And the reason for that is that I have seen many people that applied for loan but after it was disbursed to them they refused to pay back.

 

[Ralphjoe]

Yes, mortgage bank is simply the institution engage in offering loan to people and not mine. They won't give me attention like the way they'll give to mortgages because I wouldn't charging for collateral and strict measures.

Mortgage banks are just banks that offer loans for for building houses and so you shouldn't confusing in with taking normal loans from the bank for any other project outside building.

Post automatically merged: Sep 23, 2021

Ok I understand this is true Because most of them will rather take advantage of you by not paying back the money you have help , the reason why they may not go to the bank is because they do not have a collateral.

And one thing that they have found out about them is that the reason why most of these people do not want to go to the bank is because they do not actually have the intention of paying their loans back and they know that they can't do that with the bank so they would rather want to go to people that they can deceive to get that money from.

 

[Sincerem]

Mortgage banks are just banks that offer loans for for building houses and so you shouldn't confusing in with taking normal loans from the bank for any other project outside building

Yes, I understand that they stand for majority of loan purposes. Someone can't just run to mortgage bank for loan without meeting up the criteria for the loan demand.

 

[Mayox25]

There is nothing wrong in giving out loan to anyone in need of it to start a business. But as I am now I myself needs more capital to be able to run my business smoothly.

 

[Ralphjoe]

Yes, I understand that they stand for majority of loan purposes. Someone can't just run to mortgage bank for loan without meeting up the criteria for the loan demand.

What I am trying to say is that mortgage banks are only men to service loans for buildings and not loans for business or any other reasons so before you approach a mortgage bank you should know that what you want to take the loan for us to do it using your house.

 

[Sincerem]

What I am trying to say is that mortgage banks are only men to service loans for buildings and not loans for business or any other reasons so before you approach a mortgage bank you should know that what you want to take the loan for us to do it using your house.

You can still use your valuable land as a collateral for mortgage loan. I've seen many people who went to mortgage, which used their valuable asset to deposit as collateral for loan. Civil servants on their own use their salary as collateral, they pay gradually until it competes, my father is a victim of that.

 

[Ralphjoe]

You can still use your valuable land as a collateral for mortgage loan. I've seen many people who went to mortgage, which used their valuable asset to deposit as collateral for loan. Civil servants on their own use their salary as collateral, they pay gradually until it competes, my father is a victim of that.

Well that is a good information and I will do that when I intend to take loan from a mortgage bank but I do not intend to take a loan from a mortgage bank as my plan of building a house injured on me being able to use my personal money to complete a house or probably purchase a house.

 

[Sincerem]

Well that is a good information and I will do that when I intend to take loan from a mortgage bank but I do not intend to take a loan from a mortgage bank as my plan of building a house injured on me being able to use my personal money to complete a house or probably purchase a house.

If you know you can replace the money, their is no need to fear when it comes to using it to build a commercial house or personal house for living.

 

[Ghost]

No I wouldn't give out loans because currently I don't have enough for myself. But when I'm rich enough I wouldn't mind giving out loans but there must be a worthy collateral

 

[Heatman]

Personally I don't see anything wrong with giving a loan to someone and I can actually give a loan but the consequence or the requirement for me to give you a loan is a good collateral.

 

[Toyoabasi]

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?

Well, yes... I can give out a long term loan to someone is just starting a business, but not without a legal agreement.
Whether the business yields profit or not, once the loan tenure expires, the loan has to be repaid.

 

[Ceeny007]

From my understanding only corporate licensed institutions are allowed to give out loans as an individual it's illegal for you to give loans.

 

[Niftyyem]

I wouldn't loan anyone money for startup but rather give an amount I can afford to gift him, that way, he wouldn't be under so much pressure of paying back and also making the new business work. Doing this must be only when I am certain of the person's seriousness.

 

[Senator]

I don't give loans to people starting business because that is not the type of business line I belong to. But I do give help to relatives and friends for business if I can afford some money

 

[Salimo]

I don't see any interest for us to give others loans before starting a job , just imagine if he fail pay back his loan who will be the loser , who want a loan should go to a bank .

 

[Setfragil]

I do not normally gives out loans to people that are just starting their businesses and if I must do, I will make sure that the money that I give out is not much in case they default in payments.

 

[Ezekiel]

A starter of a business doesn't mean the person will not have finance to pay back it has to even do with the understanding of the person some person who started business for a long time and still get loans but refuses to pick

 

[Yhubee]

If i am giving out a loan to a business starter,there will be a written agreement that has to be signed and duly followed at the appropriate time.

 

[Joseph212]

I do but I don't use to loan or Lend someone the money I can't forgon cos any money I lend someone is like a dash in my heart