Is it a good idea to borrow money from the bank?

2008-10-15 6:52 am
I hope if anyone have the experience will helpful, although the days of debt are not very good to pass through,
If you can afford yourself and have ever borrow money, could you tell
me which bank have lower interest ?
i may do a shoes business

回答 (10)

2008-10-15 7:03 am
✔ 最佳答案
The U.S. Small Business Administration helps people with loans for small businesses. Check with them, first. Also, check with local banks to see what they think of your plans. They can advise you where to attend classes for setting up your small business.

I am lucky to belong to Federal Credit Unions. They are the best for borrowing money. See if you can qualify for a local Credit Union. Sometimes you have to work in the city or for the city. Hopefully, you will get some good suggestions from peoples answers.

Good luck!
2016-03-17 9:39 pm
Judging by your previous posts, I suspect your questions are driven by a finance or accounting course. For a business looking to expand, etc, there are several advantages to borrowing money: Easy Access to funds - Banks are in the business to loan money. You can secure a loan MUCH faster than you can issue new stock or issue bonds. Lower cost to borrow than to issue stock - Loan agreements give banks legal actions they can take if the loan isn't paid back. Stockholders have no such agreements. This means less risk for the bank. Less risk means a lower rate of return will be required by the lender. Leverage - If you can borrow money at 8% and do something with that money that earns you 12%....that extra 4% is yours....you made 4% on someone Else's money. Tax Advantages - Interest is deductible from income where dividends and other payments to shareholders are not. This means that a business can keep more of the profits it earns to reinvest because it saves on taxes. Hope this helps!
2008-10-18 10:10 am
Banks are a good option. It also depends upon whether how good you are with your credits.

Another option is to go in for a pay day loan. Here, you can check out different loan plans and the select the one which suits you the best.

I can refer you a particular site called Chance4Finance. Do check it out once.

http://www.chance4finance.co.uk/
2008-10-15 1:00 pm
Debt/loan is never a good idea but all we know the fact that there are situations when we don't have other way. To know the best rate you should do enough search on internet. there are many companies which provide loan. When you will contact them they would tell you the interest rates, terms & conditions of various banks so that you can choose according to your convenience.
Check out this site:

http://www.ask4loan.co.uk

here you can find information about various kind of loans.
Hope this will help you a bit.
2008-10-15 11:45 am
Shop around for the lowest rates, first.
Make sure ALL payments are made on time.
If you do this, it will be a benefit to you = )
2008-10-15 11:39 am
For your shoe business, its good that you take a small business loan as working capital for your business. Once you commence business you will need this loan to cover for your day to day expenditures or even for business opportunities. I would recommend you to go to a nearest branch of Barclays bank. They should be able to advise and help you.
2008-10-15 9:13 am
I guess it best to direct your question to online consultants (free advice)
http://newhorizon.org/credit-info/forum
2008-10-15 7:13 am
If you have a good credit, you can borrow money by applying for a zero interest credit card for up to a year. Don’t miss the monthly payments. Read the terms and conditions. You can use the credit card company’s money for a year without paying a penny in interest. At the end of the year you need to transfer the balance to another zero interest card. If you don’t — then you are going to pay a lot of money in interest.

I make about 3,500.00 from credit card companies every year without paying any interest. I deliberately carry about 50k in credit card debt just to make money from them. For more money management techniques read my new book: How I Became a Millionaire Bushman (available at Amazon).
參考: My personal financial success and I am the author of the new book: How I Became a Millionaire Bushman (available at Amazon.com)
2008-10-15 7:05 am
For Business Loan Nat west is the best bank, but under the present market situation ,I can only assume that they will ask for a lot of tangible security.
2008-10-15 6:59 am
yes
參考: fred fredburger


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