Hello Godwin! First, loan is the key source of funding for any business that requires a huge financial outlay. Secondly, It's not wrong to fund businesses, particularly profitable businesses, like transportation business with a loan. This is because the ROI (Return on Investment) is high. Paying back the loan would be a walkover. Thirdly, in a situation where you personally have the money to fund the business, I would still advise that you lend the money to yourself, with an interest too, to start up the business. It keeps you determined and motivated. Lastly, management of the business is the most important aspect. Once you manage a business well, repayment of loans wouldn't be an issue. I hope my explanation takes care of your concern.
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Is it not wrong to fund transport business with loan .
Hello Godwin!
First, loan is the key source of funding for any business that requires a huge financial outlay.
Secondly, It's not wrong to fund businesses, particularly profitable businesses, like transportation business with a loan. This is because the ROI (Return on Investment) is high. Paying back the loan would be a walkover.
Thirdly, in a situation where you personally have the money to fund the business, I would still advise that you lend the money to yourself, with an interest too, to start up the business. It keeps you determined and motivated.
Lastly, management of the business is the most important aspect. Once you manage a business well, repayment of loans wouldn't be an issue.
I hope my explanation takes care of your concern.
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