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We all know that getting a traditional business loan from any financial institute have pros and cons that may positively or negatively affect our businesses. Considering the following factors:
1. Eligibility: Before taking a loan a lender will need a Credit History, Financial Records, Revenue and proof of business longevity. How will a financial institute take this for online business?
2. Your personal credit may be put to risk, when the business does not go well (I don't mean to be pessimistic).
3. The cost of repayment of the loan mainly during the first few months.
* Again on the other side of the coin
4. You'll have money to start and running your business considering Inventory, Real Estate, Equipment, payroll and hiring.
5. Investor Financing for an online business can also be pivotal.
I don't to outweigh the pros or sound pessimistic, if I did.
Can a traditional business loan be good for an online business?
1. Eligibility: Before taking a loan a lender will need a Credit History, Financial Records, Revenue and proof of business longevity. How will a financial institute take this for online business?
2. Your personal credit may be put to risk, when the business does not go well (I don't mean to be pessimistic).
3. The cost of repayment of the loan mainly during the first few months.
* Again on the other side of the coin
4. You'll have money to start and running your business considering Inventory, Real Estate, Equipment, payroll and hiring.
5. Investor Financing for an online business can also be pivotal.
I don't to outweigh the pros or sound pessimistic, if I did.
Can a traditional business loan be good for an online business?