Is it a good try to apply for a bank loan to push through a plan to invest something? I think it is not a good idea to invest through a bank loan. You may not be able to pay the loan. After your loan is approved and released by the bank, the next month after you have to start paying. Just imagine if you haven't started your investment yet and here comes the loan that blocks your interest and plan that needs a payment. If you can't pay, the interest surcharges double in the next month. Therefore, it's not safe to apply for a bank loan to finance your first investment. if you are smart, better save first or seek an investment that requires a small capital.
Filing loans to start an investment
- Thread starter Starmix
- Start date
I don't even advocate getting loan for business let alone for investment. it is a bad trap as you have rightly stated. When loan is approved and released by the bank, you are expected to start paying almost immediately which can be frustrating.
- Thread starter
- #3
It is frustrating to feel that after the loan is approved payment follows in the next month as first payment and if can't pay the interest surcharges. The business you intend may not be established so suddenly so the debtor will force to borrow to other agency. The problem complicates.
- Thread starter
- #8
Indeed it's not a good idea to start a business through bank loan. It's very impractical. While building your business to profit and grow, your mind will be divided as to where to get the money to pay for your first month's loan payment.
