What's your experience starting a business with a loan

[cherry123]

I read a lot about not advisable to start a business with a loan. Have you ever started a business with a loan? Did you regret using a loan or it was a blessing for you?

 

[Starmix]

I have not started a business with a loan. When I started my milk tea business recently, I used my savings as my direct capital. I may apply for a loan if see my milk tea business booming and would want another stall in malls.

 

[Bisolami]

I read a lot about not advisable to start a business with a loan. Have you ever started a business with a loan? Did you regret using a loan or it was a blessing for you?

I've never started a business using a loan but I don't think it is a good idea. The person would take loan when the business is already going well

 

[SHAHID987]

Starting new business with loan is not a smart idea because we don't know whether it will grow or not so it will be good as when we see the business is growing and we need capital for its further growth then we can take loan and expand it.

 

[Bisolami]

Starting new business with loan is not a smart idea because we don't know whether it will grow or not so it will be good as when we see the business is growing and we need capital for its further growth then we can take loan and expand it.

Exactly my point too. I don't think I like the idea of starting a new business with loan. What if the business fails

 

[Suba]

I have never started a business with a loan, because it would be too risky, at least we would be stressed thinking about interest and loan installments that have to be paid every month, while starting a business is a difficult time to get consumers.

 

[Hate2Wait]

I haven't started any business so no question with loan or without loan and it's fine to start with a loan and work whole heartedly at it

 

[Bisolami]

I haven't started any business so no question with loan or without loan and it's fine to start with a loan and work whole heartedly at it

Since you have not started a business before I will tell you not to take a look to start your business whenever you want to do so

 

[Hate2Wait]

Since you have not started a business before I will tell you not to take a look to start your business whenever you want to do so

Thanks for the suggestion. And yes I don't like to take loan or financial assistance like that because it's just a burden on us

 

[Stardom22]

I have never started a business with a loan facility before. I heard it from the financial advisors that it's not advisable to do so as it's very risky and can lead to the collapse of a business

 

[Bisolami]

Thanks for the suggestion. And yes I don't like to take loan or financial assistance like that because it's just a burden on us

Exactly. It will just be a burden and I believe that a new business is like test running something. It may fail

 

[cherry123]

I've never started a business using a loan but I don't think it is a good idea. The person would take loan when the business is already going well

Thats the right thing to do. just take a loan when you have to expand your business you would fare better with it.

 

[Starmix]

For me, starting a business with a loan is not a good idea. It could be feasible after some years if need to create another business branch. There is no assurance of whether a business if boom or not . It must be observed after a month's inventory to know the break-even , net profit or loss. One can apply for a loan from a friend or relative without interest charges for bank charges even more. if failed to pay a single month.

 

[cherry123]

Yeah even if one needs to start a business with a loan it should be from friends or family that it might come with little to no interest

 

[Shavkat]

I never tried to startup a business with a loan. Some businessmen claimed that it is not a good idea to push through a business like this.

 

[Bisolami]

Thats the right thing to do. just take a loan when you have to expand your business you would fare better with it.

Loan has to do with time too. It depends on the time that you have promised to pay back so I will advise people to take loan when they are already making money

 

[uptrendfinancialsignal]

It is often better to take a loan if the business is already established. Taking loan for a new business is not good.

 

[flower]

My experience with using loan to start up a business is not palatable at all.

 

[cherry123]

It is often better to take a loan if the business is already established. Taking loan for a new business is not good.

Thats the truth one will fare better if a loan is applied on an already existing business than not

 

[Bisolami]

It is often better to take a loan if the business is already established. Taking loan for a new business is not good.

I love your points here and that is why I always advise people who want to start a business not to start with a loan but take the loan when the business is already going on well