Answer to Question #246172 in Economics of Enterprise for diya

Question

Ruma is a final year hotel management student, who is very much interested in starting her own business of bakery. Home baking is the trend now so she wants to start from a small business and then in future expand it. She is thinking of taking bank loan and has approached you for advice. What would you advise her? 

Answer 1

Specifically designed for a company's needs, business loans are designed to meet the financial needs of the company. It's important to know that different types of loans can result in the development of a debt that is normally repaid with interest and that also pertains to a specific reason. The traditional option for any enterprise of any development stage has been to look for a loan at their very own bank - but there are presently a great number of lenders to choose from