Starting small or getting a loan

[Fatima]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

 

[Adventurer]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

I agree with you, the pressure inflicted on business men/ women when it comes to loan repayment is unbearable, it's just that sometimes these people do not have a choice as there is no one to loan them money to start their businesses.

 

[Aricha josef]

I prefer to start small..There is no successful business that didn't start small..I really don't buy the idea of collecting loan..It doesn't go down well for me..Because the rate at which cooperatives charge interate is really unbearable especially for beginners in business who have little or no idea..I think starting with small amount can still make ur business grow with time..

 

[Dubai]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

Just like you, I am also a fan of starting small. It pays to start small as you would avoid being in pressure. Sometimes, the interest rate on those loans are mind-blowing. They tend to derive the business owner from early profits he would have made if he hadn't collected loan.

 

[Ralphjoe]

Taking loans from a bank shouldn't be for the purpose of just taking loan alone because bank loans are for serious business proposals and projects and not an informal method of giving out credits. The bank will definitely put pressure on you to collect back their money because that money is actually not theirs it's their customer's deposit so if you have made up your mind to take bank loans you should make sure that the business or project you want to make the loan for is guaranteed to make back the money to pay back the bank loan, if not in a situation whereby you default in your loan, bank will surely put pressure on you and when the worst come to the worst, they will seize your collateral.

 

[Patrik]

i would say start small, you will learn a lot in your journey to increase the size of your business and you will gain experience, loans are risky and comes with interests to pay later which makes you spend more money

 

[miztersam]

Getting a load to start a business is sometimes risky what if the business did not yield has expected then one will b ib debt ..so my opinion if you can get a loan to boost existing business or rather you start with small capital

 

[Bazikd]

Starting small and growing it gradually is always key because if you start up any business through the use of loan you will be overshadowed by paying paying back the loan which might end up crippling or killing the business s

 

[Robrown83]

I would rather start small than to get loan because the interest on loan alone is something else. Getting loan will not make you sleep to close your two eye's that is you will not very well that is you can't sleep very well.

 

[Princeeffiong]

Taking loans from a bank shouldn't be for the purpose of just taking loan alone because bank loans are for serious business proposals and projects and not an informal method of giving out credits. The bank will definitely put pressure on you to collect back their money because that money is actually not theirs it's their customer's deposit so if you have made up your mind to take bank loans you should make sure that the business or project you want to make the loan for is guaranteed to make back the money to pay back the bank loan, if not in a situation whereby you default in your loan, bank will surely put pressure on you and when the worst come to the worst, they will seize your collateral. Taking your collateral might take you back to zero level.

 

[Kehinde]

If a loan is easy money it can facilitate bad decisions, and you have to pay back sooner or later. ... Obtaining a loan to start an unproven business is indeed a bad idea. small businesses are seeking small business loans, and therefore their requests are usually declined since it does not make financial sense for a bank to process a small loan.

 

[Cissé]

I don't think starting a business with a loan is a good idea I'll prefer to start a business with any little amount of money that I have because when you go to bank to collect loan to start a business there will be a lot of pressure on the business owner, pressure about how to return the loan and how to meet up to the customer's requirements and how to satisfy them when you start a business with a loan I think you can't get enough profit to save cuz most of the profit you'll be using it to return the loan you get from the bank.

 

[CeeJase]

Even if it has to go down to loan, you need the basics of income flow so as to know where to integrate the loan and get a maximum satisfaction from it other than squandering it without even knowing. So you start small, identify the integration and then go for the loan.

 

[Jimmie150]

I would personally advice you start small with the little you have and grow your business because loans are not easy to pay back. I have heard of people who fell ill as a result of bank loan. The trust is they won't be patient with you.

 

[eenya00]

I prefer to start a small business rather than getting a loan for the business because, it's advisable to get a loan when you are about to expand the business and not when you are starting up the business. You never know what might happen to the business.

 

[Igbokwe chidera]

I would say starting small is far better than starting a business with a loan on my own opinion because starting with a loan wont bring in much profit as expected, like if your partner whom you borrowed from demands 30% of your weekly income. You would be left with very little money

 

[Goodday]

I prefer starting my business in small scale than taking a loan to start a business. If l start small and work hard on the business, l will surely grow with time and I will also be free from any other worry taking loan might bring into my life in case the business should fail.

 

[Heatman]

I would never start any business with loans from bank, This is my personal opinion, because I have seen how many Banks treat their debtors, most people that start a business with loan don't usually have peace of mind and the collateral they give in exchange is also big
What did you see to this?

From my experience with so many people and their businesses whom got loan from banks or other financial institutions to help boost their businesses, it never ends well in most cases. Sometimes, I feel like banks curse their loan before giving it out which makes most people not to succeed with it.

 

[Ibrahim]

As for me I will rather start with small than going for a loan whereby my mind won't be at rest and moreover what am I looking for after have gotten capital for small business so what else, from small I can make it big so I have nothing to be worried about

 

[Fabulous]

Am in support of what you have just said as your opinion but it matters allot when you don't have enough capital to set or actually start up a particular main business.
yes you have to give them a collartral that is more big and worthy enough even more than what you loaned.