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dojo

Do you get a loan to start a business?

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I've known people who'd take a loan to fund their startup. Of course, if it's working, you'll be able to pay the loan pretty fast and then have your profit. Still, there's always the 'chance' for something to do wrong and you'd have an unsuccessful business and debt too.

 

So, what do you think about this? Is it OK to take a loan? Would you try to build your business slower but fund for it yourself?

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Instead of taking a loan, I would look into selling equity in the business if you can.

 

Loans are good, however they are very tough to get, especially if your business is online or online related. No bank will be quick to give out a loan if there is nothing to secure that loan.

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