Taking loans

[bestwriter]

When big projects and or purchases are involved it is always good to take loans rather than spend one's capital. This way your capital remains intact and the loan is normally repaid in installments. There will be an element of interest but your capital also generates income.

What is your opinion?

 

[Stardom22]

I don't like the Idea of paying higher interests on loans when l have my own money that l can invest in business.

 

[nomad]

If you do not have a plan B, do not take loan. Plan B means your plan to pay back the loan when your project fail

 

[Stardom22]

I see the taking of loans as very expensive venture for sure because of the exorbitantly interest rates charged over the loans.

 

[Ratine]

I think there are much risks to the businesses that comes with the taking of the business loans.

 

[Etini Willie]

I have not really been a fan of loans. I would rather prefer to do the project bit by bit with what I can afford.

 

[Bisolami]

I don't like the Idea of paying higher interests on loans when l have my own money that l can invest in business.

Paying higher interest will just limit the money that you are supposed to make inside your pocket. It is better to look for a loan with minimal interest that can be managed

 

[eldavis]

For things like this I do not take loans, I prefer finding a side hustle to earn some extra cash for the project.

 

[You]

I haven't taken loans for big projects or purchases, and instead, I've opted to save and pay cash upfront. While I understand the logic of preserving capital and spreading payments over time, I prefer avoiding debt and the accompanying interest charges.

 

[Hate2Wait]

I agree with that, you cannot use your own capital only and should go for bank loan and its not wise to use 100% of your resources

 

[jetsaints30]

It really depends on the individual's financial goals and circumstances. For some, preserving capital may be the top priority, while for others, the potential risks and costs of taking out a loan may outweigh the benefits.

 

[freelancermaria]

I do not like taking out loans, especially for big expenses, as I want to avoid dealing with high-interest rates.

 

[Ratine]

For me l only recommend people to take business loans and only if the business is capable for repaying back.

 

[Shavkat]

It is fine to take loans if the business is feasible. There is nothing wrong to consider this option.

 

[Springtime]

If I have enough capital, I will use them to start my business instead of taking out a loan. I do not like paying high interest and worry if I am not able to repay back the loan should the business fails.

 

[Min George]

There are some kinds of loans that multinationals take and it is not anything risky because they are given long term to pay.

 

[Fidelia]

I have never taken a loan for my business. I don't think that I have had a big enough project that needs a loan to finance.

 

[Hate2Wait]

I am fine with taking loan provided we are fully aware of the conditions and fully committed to it and in a position to repay it back on time

 

[Rubz]

I do not really agree with this opinion. I believe if one have the capital for a big project or investment, one should make use of it instead of taking a loan.

 

[Hate2Wait]

If you are starting a business and for that you need to arrange a big capital and have that much money in bank even then you should not use it and should take loan