| To save or to take up a loan? |
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JoeClark
New Poster
Cash: $ 0.50
Posts: 2
Joined: 06 Jul 2017
Location: new york
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| To save or to take up a loan? |
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Hi.
I have been debating about this with friends for long. Is it better to save up to start a business or to take up a loan? Saving up is time inefficient, though you avoid the interest rates. Loans on the other hand let you start your project now, though you now have to pay up the interest rates. What tipping point works for you to decide of either?
Please Help.
Thanks !
I didn't find the right solution from the internet.
References:
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Wed Aug 23, 2017 10:22 am |
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spindoctors01
New Poster
Cash: $ 0.40
Posts: 2
Joined: 23 Aug 2017
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| Re: To save or to take up a loan? |
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quote:
Originally posted by JoeClark
Hi.
I have been debating about this with friends for long. Is it better to save up to start a business or to take up a loan? Saving up is time inefficient, though you avoid the interest rates. Loans on the other hand let you start your project now, though you now have to pay up the interest rates. What tipping point works for you to decide of either?
Please Help.
Thanks !
I didn't find the right solution from the internet.
References:
What business do you have in mind? If you think it is worth risking for, try applying for a business loan. Borrowing money will help you achieve your dream venture. Don't worry about the interest rate. Several lending companies offer a low-interest rate that suits your capacity to pay. Additionally, if your business is profitable, you will eventually regain the money. Have a read of this handy article on how to apply for a business loan: https://www.ecomparemo.com/info/business-loan-application-a-handy-guide-to-financing-your-venture/
Best of luck! 
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Thu Sep 07, 2017 5:28 am |
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Garson
Senior Member
Cash: $ 44.75
Posts: 251
Joined: 21 May 2018
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Hello! I have always thought that taking a loan is not a problem in our world of capitalism. So, you can call SSS hotline and find out all the peculiarities and details of the process. As far as I can judge, it's not very hard.
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Wed Apr 22, 2020 4:02 am |
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