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[Brain]

I'm looking at starting a cement selling business offline and to be a major dealer which I'm targeting to be. I need some good amount of capital which I don't have handy. I'm looking at approaching my bank for a loan to start off. What do you think about this idea? Does starting a business on loans have any bad effects on the business??

 

[salvi]

I think you should not take any loan from bank as they are greedy to take interest first and make you more upsets. You should find your family members who has idle money to take loan from them.

 

[Brain]

I think you should not take any loan from bank as they are greedy to take interest first and make you more upsets. You should find your family members who has idle money to take loan from them.

This is the issue i have been rallying around my family members Tor a while now but it seems the kind of money I need can't be met by them. The loans seems more feasible to me than from family members.

 

[salvi]

This is the issue i have been rallying around my family members Tor a while now but it seems the kind of money I need can't be met by them. The loans seems more feasible to me than from family members.

This is the main problem major people who are losing business or failed to establish as per requirement. I think without investment none can success.

 

[Reznov]

in case your business fail ( which nobody hopes ) , you'll have to lose a lot of things in order to pay the loan back or even get jailed , so don't risk taking a loan , ask for a loan from a family member or a friend ( a very small loan ) and start developing your business month by month till it grows up and becomes great , it will take some time , but once it grows up , cash won't be a big deal for you , just don't take the risk

 

[SCAMEXPOSER]

I'm looking at starting a cement selling business offline and to be a major dealer which I'm targeting to be. I need some good amount of capital which I don't have handy. I'm looking at approaching my bank for a loan to start off. What do you think about this idea? Does starting a business on loans have any bad effects on the business??

It is good step in the right direction as the business of selling cement is very lucrative. On the issue of bank loan, in my opinion it depends on the interest rate and pay back time , if it is worth it then it better you opt for that instead of going to family members or friends and getting a negative result.

 

[Balint098]

How about starting small and ends up big? What I means by that is that you need to work on multiple online odd jobs or real life job until you have what you needed to start your business? A lot of big companies in the world don't take big risk by building their business with loans.

 

[SCAMEXPOSER]

How about starting small and ends up big? What I means by that is that you need to work on multiple online odd jobs or real life job until you have what you needed to start your business? A lot of big companies in the world don't take big risk by building their business with loans.

You have a very good point but honestly it not easy gathering money to start a business from online jobs that pay little cos aside saving for business you still have other bills to settle unless there are means to pay bills .

 

[Balint098]

You have a very good point but honestly it not easy gathering money to start a business from online jobs that pay little cos aside saving for business you still have other bills to settle unless there are means to pay bills .

Please read my post again. There's also real life jobs that he can do and then saving a little by little along the way. It's not just online earning.

 

[Brain]

@Emoney being a major dealer in cement distribution doesn't need small money. I'm talking about starting with at least an half truck load then we are progress from there.

 

[Balint098]

@Emoney being a major dealer in cement distribution doesn't need small money. I'm talking about starting with at least an half truck load then we are progress from there.

Bank usually requires you to prepare for collateral and many other legality hoops. Maybe you can consider peer-to-peer lending program there (not sure if there's that kind of progrm in your country though). As long as you're dedicated and serious in your business, I think the fact that you build your business upon loan won't affect you that much. Though most entrepreneurs would go against the idea of starting a business with loan. That's just my thought :)

 

[KarthikP]

Loan always invokes a risk , may it be a loan from any of the banks. If you are not able to repay the loan for sone reasons or if the bank charges you more interest , you are in trouble. I have seen people struggling in their life with unable to repay their loans and jumping from one bank to another bank.

 

[KarthikP]

Think of taking a loan from a bank only if you are at least 90% sure your business is gonna be successful. Be planned to get a success in your business.

 

[Banglashi]

Though a business loan is one of the good debt because you will use this for a business, but chances are I will not recommend taking loans at the start of a business but for business expansion. Maybe this short tips in growing money can help you out

https://www.beermoneyforum.com/threads/short-tips-in-growing-money.56280/growing money should be a lifestyle not just a trend only.
Since you are likely depicting you're a starter in running a business like this, you are likely to fail.
Banks are good friends if you can pay on time but a bad enemy when you fail.

I'm looking at starting a cement selling business offline and to be a major dealer which I'm targeting to be. I need some good amount of capital which I don't have handy. I'm looking at approaching my bank for a loan to start off. What do you think about this idea? Does starting a business on loans have any bad effects on the business??

 

[SCAMEXPOSER]

Though a business loan is one of the good debt because you will use this for a business, but chances are I will not recommend taking loans at the start of a business but for business expansion. Maybe this short tips in growing money can help you out

https://www.beermoneyforum.com/threads/short-tips-in-growing-money.56280/growing money should be a lifestyle not just a trend only.
Since you are likely depicting you're a starter in running a business like this, you are likely to fail.
Banks are good friends if you can pay on time but a bad enemy when you fail.

This is a very good business, the level of dealership or distributorship depends on your amount of money, bank loan is a good option if you can get it from family, friend or government agencies with little to no interest rate. People keep building so cement business is lucrative.

 

[Spider]

Well, I would suggesto you not to take any loan from the bank yet... You're still a newbie in this, ask your family first to help you out..

 

[Nour Moh]

I think taking loans is not a good idea. You can check some crowdfunding websites that can help you. Or you crowdfund yourself personally through your family or friends.

 

[Mbwolf]

I don't think it's a good idea I mean you are not sure 100% that your business is gonna work
I advice to try to find an investor
or a partner who has already that amount of money

 

[an_innocent_child]

Many times loans are critical to the success of the business. Most businesses that fail in the first three years do so due to insufficient capitalisation . Many entrepreneurs do not take into account the ramp or how long it will take to break even and make a profit.
They start the business and expect people to walk in the door on day one and start buying things . It doesn't happen that way .
so yes it may effect on your business if you are thinking to start a business with bank loan .

 

[SCAMEXPOSER]

To an extent some very feasible businesses survive and grow much stronger with bank loan, it all depends on the business owners plan. People into transportation business rarely fail in their business so they patronize banks very well.