Is it good to borrow money from the bank to start a business?

August 11, 2020 | By Fitz | Filed in: Business & Entrepreneurship.

What do you do when you have a business idea but don’t have capital? Should you apply for a business loan from the bank?

Most banks will not approve your loan application if it’s for a new business. So, this may not be a good solution. Banks are more open to approving your loan if the money will be used for business expansion.

However, banks today have partner franchises and they will approve your business loan if the money will be used to get a franchise from one of their partners.

The video gives more insights to this question.

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