I think we shouldn't take loans but learn to manage the resources that we have at our disposal. When the money we earn isn't enough, instead of taking loans, we should work harder by having multiple jobs and reducing our expenses. Taking loans isn't not a good way to live because loans are ways that the banks keeps us in debts as taking loans can get addicted and make us live beyond our income which makes us never to get out of debts but working constantly to payoff the debts and retake another one when that debts has been paid off.
The loans apps knows that people aren't wise hence they can use them to make money by giving loan to them, that's why they're making it very easy to take loans and when we do that, we're now working for them and making them money while you that's taking the loan keep staying broke.
According to my opinion, this loan is better for rich people it is better because they do business. If they need money for a day or two, then they can take it. It will not be difficult for them. If a poor person takes it, it will be difficult to give him money because he has no business. It is fun for some people who like to borrow or lend money from everyone because they want more money. You are absolutely right because if we work hard and get money for hard work, it is better. After all, we don't have any problem with it. Every person has to take a loan at one time or another because, at some point, bad times fall on someone due to which they have to take it.
Their principal aim is to make money because they know that people like to take loans and take more money for their own benefit, and later, people regret doing this. If we take a loan and do something good that will benefit us, the loan is better. Otherwise, I don't think it is much better either. But nowadays people have a lot of desire within themselves to increase their spending habits a little after all this which means we are buying things we don't need. Due to this, we come to the point of borrowing.