I don't really know how people behave most times when it comes about trading, immediately they hears about people talking of how much they have made through trading you would see that immediate their minds blows up and wanting to join same trading without know that trading requires lot of things and for that they can't just start trading and began to make money immediately without them at least knowing things involves while trading. Another lesson we should learn again is never to go take a loan to trade with the mindset of making a specific amount to return back to the lender at time interval or within stipulate time while they aren't that a professional traders.
Taking loan isn't the problem here but the business itself. Nothing is bad to take a loan for your business. Most successful businessman live on loan. I believe even the most successful businessman in Nigeria (Aluko Dangote) still work with loan. The question here before taking a loan are:
👉👉Is your business a new or existing business?
👉👉Can you pay back your loan interest on weekly or monthly basis without affecting the business and the principal borrowed?
👉👉What is the nature of your business and do you make good turn up and profit on daily, weekly or monthly basis?
👉👉Do you really need the loan for the success of your business?
If you can have a positive answer for all this questions then you are good to go. The most question that needed to be checked is the first one. Alot of people get loan to start a business, this is very wrong. Never get a loan to start a business no matter how profitable the business is. But if you have a good and flourishing existing business and you wish to upgrade it, I don't see a big deal for such businessman to get a loan.