Major challenges to start a business with loan.

[Immilash]

It is not wise to start up again business with a loan, many people have made the mistake of taking a loan to start a business and they are regretting there actions. If you don't have enough to start up a business you can to take a loan from your family members.

 

[kayode10]

The major problem you are going to face when you obtain a loan to start a business is ability to pay it back. And this can only be possible when you are able to generate consistent sales with the business you set up.

 

[Godspower]

It depends on the entrepreneur. I know many business owners who took loans to start their businesses and they are really doing well even after repaying their loans.

 

[Mayox25]

Some of the major problems in securing a loan to start a business is lack of enthusiasm from business owners in wanting to secure loan from the bank and also the hinderance that those who are interested faces in meeting the requirements laid down by the financial institution.

 

[tyrim88]

One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.

That is actually the major challange with optaining loans is the apprihension that comes with the repayment plan.Reason why it is very important to get loans when you have already known abiut the dynamics of the business.

 

[Stnicholaz]

Starting a business with loans is not advisable especially if you are not too knowledgeable about the business you want to start, as a rookie in the business world, the best method to source for funds for your business is through personal savings and contribution from families and friends.

Loan for Businesses are mostly good for experienced business owner who wants to expand their Businesses as they are very knowledgeable about the business already. These are the people banks mostly grants loans.

I know what start ups who use loans to start their businesses pass through. Paying back the loan is challenging for them. In most cases some the business end of closing still debts and some manage to pay back the loan but cam continue the business due to lack of funds.

 

[Sotherefore]

The major problem you are going to face when you obtain a loan to start a business is ability to pay it back. And this can only be possible when you are able to generate consistent sales with the business you set up.

It is a wise decision that we look at all these things when we are making a decision, generally it is not just the best for us to consider the profit aspect of it and neglect the risk factors.

 

[Shigobad2020]

The most difficult challenges in a business is by starting a business with loan money which is very dangerous and risky and can wreak the whole business when you are trying to pay back.

 

[Ghost]

To be honest, In all ramifications, it is not that advisable to start a business with bank loan. Business is unpredictable, it may yield profit or loss depending on various factors. Inability to repay loans secured from bank may put the business owner in problems he doesn't even prepare for.

First of all for you to get a loan who must be prepared for the problem. You if put in a collateral, the person must be ready to let it go. Getting a loan could be one last option to start a business, it's not bad to get loans

 

[btaliat]

First of all for you to get a loan who must be prepared for the problem. You if put in a collateral, the person must be ready to let it go. Getting a loan could be one last option to start a business, it's not bad to get loans

I understand you. But preparing for a problem is not the same with solving the problem. No one can ever predict the outcome of any business even if there's good and solid feasibility study. That's why I said I don't want to support loan but it may work for some well.

 

[Ghost]

I understand you. But preparing for a problem is not the same with solving the problem. No one can ever predict the outcome of any business even if there's good and solid feasibility study. That's why I said I don't want to support loan but it may work for some well.

Actually, preparing for a problem is one step closer to preventing a problem. If you know the problem you will always work towards not making it manifest

 

[kinqzbitz]

Well major challenges can actually be the inability to pay back the loan in the given time, starting a business with a loan is always very hard because you never know I you will be able to come up with the daily payments

 

[Toyoabasi]

Insecurities and fear of the unknown. I will only take a loan to start a business if there's no interest rate attached to it. Taking loan to start a new business will likely not yield divedends and might lead to quick collapse.

That is what hinders most people from obtaining loans for their businesses.
They feel they may not be able to repay the principal not to mention the interest attached. Most of them don't even have the collateral required.

 

[YERUS]

One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.

Yes.
I think a lot of people have this fear of not being to meet up with the loan requirements.
Others who want to obtain loan may not have the required collateral.

 

[Syldan]

One of the major challenges for starting a business with loan, is that the income which will be generated from the business, which is supposed to be used for the expansion and the growth of the business, will be used for the servicing if the loan interest which will lead to the delay in growth of business.

 

[Godspower]

One of the major challenges for starting a business with loan, is that the income which will be generated from the business, which is supposed to be used for the expansion and the growth of the business, will be used for the servicing if the loan interest which will lead to the delay in growth of business.

Debt servicing will surely affect a business and possibly prevent it from expansion. The proceeds of the business that could have been re-invested in the business is usually used to repay loans.

 

[CeeJase]

One of the major challenges of starting a business with loan is the fear you have. Try not to start a business with loan because you will have to return it with interest.

The pressure that one faces after they have collected a business loan to start a business is one of the reason why I don't recommend doing so because it would put a lot of stress on you to pay back the loan and it will interfere with your focus on your business.

 

[Sotherefore]

Loaned generally is not profitable at all because all the profit will goes back to the loan owner because you need to pay some interest to maintain the money you have gotten.. people should just consider establishing business on their own without getting a loan.

 

[HayKay]

If you're sure of what you're doing and have done your homework well, you shouldn't have any fears but the major risk associated with starting a business with this type of capital is the pressure that comes with it.
Though once you begin to see results and you're disciplined, you'll meet with time.

 

[Abigael]

Well major challenges can actually be the inability to pay back the loan in the given time, starting a business with a loan is always very hard because you never know I you will be able to come up with the daily payments

Yeah, it can be so demanding to have to pay back a loan when your business is not yet well established. That is why I prefer starting the business with other sources of capital.