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Answer These Questions Before You Take A Loan - Business (4) - Nairaland

Nairaland ForumNairaland GeneralBusinessAnswer These Questions Before You Take A Loan (32844 Views)

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Re: Answer These Questions Before You Take A Loan by dsauce: 11:28am On Oct 01, 2019
eagleeye2:
Sometimes this year I accessed a loan of 600k for a business idea I have. The loan tenor is 24 months and I will be repaying about 750k interest and Principal inclusive. the business is projected to yield 60k monthly for about 15 to 18 months.
The beauty of this is that my salary is my collateral. After deducting their monthly repayment amount, I still have something to fall back on, while still earning from my side business.
Please which lender is this
Re: Answer These Questions Before You Take A Loan by eagleeye2: 11:43am On Oct 01, 2019
dsauce:
Please which lender is this
A micro finance bank, in the east. My salary account is domiciled there.
Re: Answer These Questions Before You Take A Loan by dsauce: 8:28pm On Oct 01, 2019
eagleeye2:
A micro finance bank, in the east. My salary account is domiciled there.
Okay, thanks
Re: Answer These Questions Before You Take A Loan by goodspeed963(m): 4:08pm On Jan 22, 2020
nice thanks
Re: Answer These Questions Before You Take A Loan by StrRock:
eagleeye2:
Sometimes this year I accessed a loan of 600k for a business idea I have. The loan tenor is 24 months and I will be repaying about 750k interest and Principal inclusive. the business is projected to yield 60k monthly for about 15 to 18 months.
The beauty of this is that my salary is my collateral. After deducting their monthly repayment amount, I still have something to fall back on, while still earning from my side business.
Dude, it seems to me that your percentage is too high and it’s very unprofitable for you. In addition, you took a very large amount on credit and it seems to me that you can pay it back. I also took out a loan more than 2 years ago in Denmark in order to build a hairdresser. I searched for suitable options for a very long time, but could not find good offers. Most banks offered money, but they had a very high percentage. In the end, I was very lucky that I learned about https://foxycredit.com/. There you can easily and quickly find profitable offers for obtaining loans. As a result, I received from the bank more than $ 250,000 at a percentage of 3.5 and it was very profitable for me. Recently, I was finally able to pay this damn loan)
Re: Answer These Questions Before You Take A Loan by Xenisha: 4:22pm On Jan 02, 2023
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