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

[Bookwormlux]

I can't even remember how many instances have witnessed, they will just take police to the debtors shop and pack all His products including fridge, generator and all other business tools and equipment to the police station, lolz .

It is actually a funny scenario and I would never want to be part of something like that in my life. That is why I am working hard day by day.

 

[Ralphjoe]

I cannot give out loans to people starting a business. That is not my priority at any time. If they are thinking of getting a loan for their business, since it is what they want to do, they can get it from the loan apps and other financial institutions

I don't really know why you really think that you cannot give out loans to people that want to start up a business even if you have too much money on you because I do not think that is a good mentality for anyone to have as we are all meant to help each other in this life that we found ourselves.

 

[Gilead]

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 kind of relationship we keep. If it is the kind of person or persons that are close to me then i will try to encourage them by assisting in many ways that i can. I will help them financially and also with encouraging words.

Post automatically merged: Jul 5, 2021

I don't really know why you really think that you cannot give out loans to people that want to start up a business even if you have too much money on you because I do not think that is a good mentality for anyone to have as we are all meant to help each other in this life that we found ourselves.

i understand what you mean here but this a world that we ourselves with many selfish and callous people who does not want others to develop and grow in certain areas of life. so there are people out there that still have such mentality.

 

[Bookwormlux]

I don't really know why you really think that you cannot give out loans to people that want to start up a business even if you have too much money on you because I do not think that is a good mentality for anyone to have as we are all meant to help each other in this life that we found ourselves.

Seriously, most rich people would be proud to help other upcoming business owners to start and grow to a level that they also reached.

 

[Setfragil]

You can give out loan to people who are just starting business but make sure that the loan is not much in case the business isn't as successful as it should be to pay back the loan on time.

 

[Bookwormlux]

Some individuals I gave loan to no longer pick my calls or even reply my chats on social media. I won't ever consider helping people with loans .

 

[Shigobad2020]

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.

If i am loan shark , I cannot borrow someone who want to start a business bevause its not easy to start a business with borrowed money, the only thing he needed is borrow money from friends and family that will not have interest.

 

[Ralphjoe]

Some individuals I gave loan to no longer pick my calls or even reply my chats on social media. I won't ever consider helping people with loans .

This is a very pathetic situation that the people that you have learnt some money for them to start up a business has stopped picking up your call. I think that next time that you want to give out loan, you should make sure you guys sign an agreement that is legally binding on them.

 

[btaliat]

It is risky to give out loans to people that are just starting their businesses. But if the person can convince me with their feasibility studies and solid collateral, I can consider him.

 

[Kelly5]

No I will not give out any loan to person starting a business. I don't like the habit of after giving some persons loan, I will now be the one chasing them here and there just to get my money back

 

[Setho]

I think that this I a wise thing but I would only invest in a business that I think that I would like to influence and believe that it would flourish and grow sooner.

 

[kay169]

I wouldn’t call it loan if the person is close to me , I can give a trusted friend or family member money to start a business and pay me whenever they like !

 

[Deucalion]

I can give out a loan for anyone who is interested in doing business as far as the person is legit and is also willing to pay back the money they have collected, giving out a loan should only be done to a trusted individual.

 

[Hena101]

When someone comes to me seeking for loan to start a business the first thing i asked is what are his plan for the business both the short time and long time plan, if I'm convince with his or her plan then i give them but once I'm not convince i just give them something small and let them go.

 

[Setho]

As someone in business, I would first research about how the business would thrive and then even propose a partnership instead so that I have equity

 

[Shigobad2020]

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.

I am of the same opinion to you concerning giving out loans to people that just wanted to start a business , they can only get fund by going to friends and famiky and there are societies that borrows you money without increament.

 

[kayode10]

I have never give out a loan to anybody who is starting up a business in my life because I am not buoyant enough. But I do learn some people money anytime they need it for something urgent. These people are very close to me.

 

[Bookwormlux]

This is a very pathetic situation that the people that you have learnt some money for them to start up a business has stopped picking up your call. I think that next time that you want to give out loan, you should make sure you guys sign an agreement that is legally binding on them.

Signing any sort of agreement is not going to make them to repay as I think the best thing is to avoid such friends or anything relating to loans .

 

[Setfragil]

As someone in business, I would first research about how the business would thrive and then even propose a partnership instead so that I have equity

Someone who want to take a loan from you will possibly rejects partnership offer from anyone. He will sees it as a way of stealing his business ideas, since he does not have money to finance the business.

 

[Ralphjoe]

Signing any sort of agreement is not going to make them to repay as I think the best thing is to avoid such friends or anything relating to loans .

I do not agree with you that signing a legal document that is admissible in the court of law would not make a friend to repay you back this money as most people are always afraid of going to the court so they will look for any way or any means possible for them to repay you back your loan.