Best Time To Go For Loan: My Notion Concerning Loan
I am not a financial adviser or an expert in matters relating to finance, but I think and also learnt that to be successful in business line or investment you have to be good with figures.
It is not a wise decision to start a business or execute projects with borrowed loan, the time you are supposed to spend developing your business or the project will rather be spent on how to refund the loan. Divided attention leads to lost of concentration which will definitely affect the business or project.
I believe that the best time to go for loan as an alternative or way out of financial problem is when you are executing projects or handling contracts of which you must have at least 40% of the total amount required to execute the projects or contracts. The loan will serve as complement to the fund you have. Am I so right with my notion concerning loan?
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Yes, I agree with you perfectly. I am planning to write article on this soon. I have had personal experience in this and would want to bring it to bear. Starting a business or project from the scratch with borrowed fund is probably one of the most disastrous mistake to make in business