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Risk in loans?
somethingisout100
Posts: 6 Forumite
in Loans
i recently have this thought of getting a loan to fund a business i want to establish online.
bu you see im so scared of taking loans, judging from friend's advice.
do you think asking for loans is a risk?
if so, what do you think is a better option?
or whats your experience about asking loans from banks?
do you think asking for loans is a risk?
if so, what do you think is a better option?
or whats your experience about asking loans from banks?
0
Comments
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Once you've put your business plan together, you'll have a better idea of your needs.1
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yeah thats true...but you know must business fail (sad)im giving myself a wrong impression maybe?Deleted_User said:Once you've put your business plan together, you'll have a better idea of your needs.0 -
In that case, choose a better business model.2
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Why would you start a business that you think is going to fail?somethingisout100 said:
yeah thats true...but you know must business fail (sad)im giving myself a wrong impression maybe?Deleted_User said:Once you've put your business plan together, you'll have a better idea of your needs.
Why would a lender lend against such a business plan?
However you structure your business, most start up loans require personal guarantees so it is not possible to borrow and squander money and then the business fails and the business founder is absolved from liability to repay the loan. Just in case that was an idea that crossed anyone's mind.1 -
thats true though...you know that first time feeling?? lol, just a bit scaredGrumpy_chap said:
Why would you start a business that you think is going to fail?somethingisout100 said:
yeah thats true...but you know must business fail (sad)im giving myself a wrong impression maybe?Deleted_User said:Once you've put your business plan together, you'll have a better idea of your needs.
Why would a lender lend against such a business plan?
However you structure your business, most start up loans require personal guarantees so it is not possible to borrow and squander money and then the business fails and the business founder is absolved from liability to repay the loan. Just in case that was an idea that crossed anyone's mind.0 -
Write a plan where you won't fail. Go to the bank and convince them to lend your business money. Do you have your own money to invest in the company?somethingisout100 said:
thats true though...you know that first time feeling?? lol, just a bit scaredGrumpy_chap said:
Why would you start a business that you think is going to fail?somethingisout100 said:
yeah thats true...but you know must business fail (sad)im giving myself a wrong impression maybe?Deleted_User said:Once you've put your business plan together, you'll have a better idea of your needs.
Why would a lender lend against such a business plan?
However you structure your business, most start up loans require personal guarantees so it is not possible to borrow and squander money and then the business fails and the business founder is absolved from liability to repay the loan. Just in case that was an idea that crossed anyone's mind."We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein0 -
somethingisout100 said:i recently have this thought of getting a loan to fund a business i want to establish online. bu you see im so scared of taking loans, judging from friend's advice.
do you think asking for loans is a risk?
if so, what do you think is a better option?
or whats your experience about asking loans from banks?
What is it your friend has told you about loans ?
Nothing wrong with loans, poblems arise when you dont make the monthly payment.0 -
yes but aint enoughClive_Woody said:
Write a plan where you won't fail. Go to the bank and convince them to lend your business money. Do you have your own money to invest in the company?somethingisout100 said:
thats true though...you know that first time feeling?? lol, just a bit scaredGrumpy_chap said:
Why would you start a business that you think is going to fail?somethingisout100 said:
yeah thats true...but you know must business fail (sad)im giving myself a wrong impression maybe?Deleted_User said:Once you've put your business plan together, you'll have a better idea of your needs.
Why would a lender lend against such a business plan?
However you structure your business, most start up loans require personal guarantees so it is not possible to borrow and squander money and then the business fails and the business founder is absolved from liability to repay the loan. Just in case that was an idea that crossed anyone's mind.0 -
his own bad experience of taking Bank Loans for Business...i yawned, hahaThenonameleague said:somethingisout100 said:i recently have this thought of getting a loan to fund a business i want to establish online. bu you see im so scared of taking loans, judging from friend's advice.
do you think asking for loans is a risk?
if so, what do you think is a better option?
or whats your experience about asking loans from banks?
What is it your friend has told you about loans ?
Nothing wrong with loans, problems arise when you dont make the monthly payment.0 -
Bank will want to see big chunk of change from you too for the business before they consider lending any. Do you have a business plan?somethingisout100 said:
yes but aint enoughClive_Woody said:
Write a plan where you won't fail. Go to the bank and convince them to lend your business money. Do you have your own money to invest in the company?somethingisout100 said:
thats true though...you know that first time feeling?? lol, just a bit scaredGrumpy_chap said:
Why would you start a business that you think is going to fail?somethingisout100 said:
yeah thats true...but you know must business fail (sad)im giving myself a wrong impression maybe?Deleted_User said:Once you've put your business plan together, you'll have a better idea of your needs.
Why would a lender lend against such a business plan?
However you structure your business, most start up loans require personal guarantees so it is not possible to borrow and squander money and then the business fails and the business founder is absolved from liability to repay the loan. Just in case that was an idea that crossed anyone's mind."We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein0
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