Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.
Taking a loan is not a smart way to start a business because you will pay interest and i am sure that the profit from your business will go to interest and not on your pocket, i suggest to borrow to your family if they have extra money without interest and make a business you can only fo it if you have a supportive family, loan is a business and if you take a loan then you are one of a millions, that gives profit to the owner of that loan business.