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I do see people seeking for a loan amount of 1 million, I’m always shock, why will someone request for a loan amount of 1 million?, Is it really for a business?. What’s your thought on this.
I do see people seeking for a loan amount of 1 million, I’m always shock, why will someone request for a loan amount of 1 million?, Is it really for a business?.
What’s your thought on this.
Read lessIf you see the chance to apply for a loan of 2milion but payback in two month time, will you accept to apply for the loan? If no why?. Your idea will be highly appreciated.
If you see the chance to apply for a loan of 2milion but payback in two month time, will you accept to apply for the loan? If no why?.
Your idea will be highly appreciated.
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In most cases, taking a ₦1 million loan and paying it back in just two months is not a good idea, unless very specific conditions are met. Short repayment periods usually come with high pressure and high interest, which can strain cash flow and cause stress. If income delays even slightly, the borroRead more
In most cases, taking a ₦1 million loan and paying it back in just two months is not a good idea, unless very specific conditions are met. Short repayment periods usually come with high pressure and high interest, which can strain cash flow and cause stress. If income delays even slightly, the borrower may struggle, miss payments, or fall into a cycle of debt.
Such a loan only makes sense if the money is going into a low-risk, fast-return opportunity that you fully understand, with clear proof that repayment will be easy and certain. Even then, emergency savings and a backup plan are important. For most people, especially young entrepreneurs, it is safer to grow gradually, borrow smaller amounts, or use savings. Loans should support growth, not create financial anxiety or desperation.
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