Is it advisable to set up a business with a Loan?

[YERUS]

To my end, it is not advisable but it could be a trigger in boosting quality performance, innovation, perseverance and dedication towards the business.

I would not advice anyone to obtain loans for a business start up.
there are other ways one could source for capital to start a business.
We can use personal savings, contributions from friends and family.

 

[Shigobad2020]

Setting up a business with a loan seems to be the the most worst thing because its going to have many disadvantages than advantage, you will be thinking of how to return the money and also be thinking of restocking your store when its getting empty.

 

[joy101]

Depending an individual taking a loan to start up a business but for me I don't like the idea taking a loan to start up a business, I like saving before going into business.

 

[Smiles20]

Getting a loan to start a business is not bad but then there are a lot of issues that usually come from it that is why you should look for other sources of funding first.

 

[Dagm1]

Taking a loan for funds to start a business is not something I recommend. Look for other ways to get your capital, however receiving a loan for a business capital will make you nervous, so be sure your business is profitable so the loan can be paid back on time.

 

[Jobiezue]

There is no way I can be able to advice any human being that I have any sort of relationship with to use loans and start up a business because to me loans are cursed in a way.

 

[Heatman]

Is the idea of starting a business with a Loan from bank advisable??

Some people would tell you that it's something that's good as long as you have the capacity to pay it back but as for me, it's not a good way at all.

 

[joy101]

Its never advisable to take a loan to start up a business because its really good to save enough money before planning to go into business, I can't advise anyone to do that.

 

[Adecyptii]

Starting business with loan seems to be risky,but if getting loan is the only way out,one has to make sure that he the business will definitely move forward.

 

[Maphalle]

It depends on individuals. If you have enough capital to start the kind of business you intend to start then loan must be ignored, but if you have no choice, a loan can be considered with carefully.

 

[Sotherefore]

Well you can set up a business with a loan but that is not really a point of consideration, the question you really have to answer is that will you be able to pay back the loan even if the business collapses ? Your business may not collapse but it's just a question that you have to answer yes to.

 

[kayode10]

One thing I know is that some people take a loan to start up a business. This usually backfire especially when they don't have knowledge about the business. it is very important to acquire experience about the business before you decide to take a loan.

 

[Heatman]

Is the idea of starting a business with a Loan from bank advisable??

As long as you have a good credit history, you can set up a new business with loan and probably have the business running up good and being able to pay back the loan.

 

[kayode10]

it is very important to acquire some level of experience with the business before you can decide to take a loan to push it further to the next level. Most people think that money is the only thing required before you can be with a successful business which is often not the case most of the time.

 

[Good-Person]

I would not be in favor of starting a business through a loan from a bank. This because the banks, at least here in Italy, have too high interest rates!

I know that most of the people would be reluctant to start a business with a loan because the results could be disastrous if you fail to pay back loan. What's quite worse is that the interest rate also increases by the passage of time when you do not return the money at the specified timing!

 

[Lucy ID]

I won't advise anyone to take a loan to start up a business to me it's a very risk thing and may result to big financial fall out of it's doesn't work as planned, it's better to get money from sources than loan

 

[Alexandoy]

Generally it is not good to make a start up with a loan as part of whole of the capital. The business would be saddled with the obligation of the loan installments and that could affect the focus on the business operation. I would rather start small than take a loan for the start up.

 

[Sotherefore]

Is not really advisable as I see.. if the business company believes that they can be able to pay back the loan then there is no problem but I personally won't even consider to set up a business using a loan for any reason.

 

[Heatman]

Hmm getting capital to start up a business us quite frustrating in the part of the world but still won't advise anyone to start up a business with a loan.

As far as I'm concerned I'm never going to start any kind of business with getting a bank or financial loan because I don't want the kind of pressure that comes with being handicapped to pay back the loan when I am supposed to.

 

[CeeJase]

Is the idea of starting a business with a Loan from bank advisable??

It is never advisable for you to start up any kind of business with bank loan because it is going to have you been looking over your shoulder trying to pay off the loan and the interest it comes with all the time.