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Category of Businesses you should/shouldn’t acquire Loan for.

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Try not to acquire Loan on the following Business Category;

  1. A startup idea. Try to use your own fund.
  2. Untested business model. You might fail at the first process, try to use your own fund or funds you raised.
  3. A business that is failing. Identify the problem and try to solve it before acquiring for Loan.
  4. A business with no profit yet.
  5. A tech product you haven’t launched yet.
  6. Company still building their tech infrastructure.

Start making profit to an extent before even acquiring for investors.

Acquire a loan or investors if;

  1. You want to scale up your business.
  2. You have tested your business model and see if it works well.
  3. Your business is making considerable number of profit/revenue.
  4. You have other source to pay back.

Don’t be carried away with your good innovation and forget the need to grow your business to an extent before getting funds.

More reasons why you will need a business expert like us to guide you through the process.

Contact us here

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