Goodday everyone.

Many people have different opinions about loans, some see it as way to destroy business, others see it as a way to grow.

I'd like everyone who has taken a loan to come forward and share their experience during the period of paying it back, so others can learn. Whether personal or business loans from commercial banks, microfinance banks, cooperatives or traditional money lenders.

What kind of institution did you get it from? Bank? MFB? cooperative?
What was it for? starting a business?
What were the terms, the interest rate, the tenor?
How was the payback period like? Was it difficult? Did you default on payment, what were the consequences, did you finish paying as planned?
Will you take a loan again after your experience?

Share you experience so others can learn.
Thanks.

Mods, seun, dominique , FOD , naijacutee , puskin, front page please, so more people can share their experience and more can learm.

Where are the people nau?

I intend to get a loan to finance my building project and UBER car purchase.

I have met all the requirements I am not sure of what to expect.

I the truth is that I have never taken an interest-bearing loan.