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.
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.
If the loan is on predatory terms - then I agree, it is foolish to take it, for it is slow suicide.
On the other hand, if credit facilities are available (low interest rate), they will definitely help you, as it is worth taking a loan only to create something that will generate income. And if you are thinking of building a business and you have no money to start it, you can't do without a loan. And yes, when you pay back the loan in your head you think “I took someone else's money, and now I'm giving back my money”
