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In the whole universe largest amount of people a poor,some not because they are not able to start up their own business but no capital, so what is loan? And what are the functions of loan to an individual?
A loan is money borrowed from a lender (like a bank or individual) with the agreement to repay it later, usually with interest.Functions of a loan to an individual:Business startup capital – helps people begin or expand a business.Emergency support – covers urgent needs like health or repairs.InvestRead more
A loan is money borrowed from a lender (like a bank or individual) with the agreement to repay it later, usually with interest.
Functions of a loan to an individual:
When used wisely, loans can create opportunities, but misuse can lead to debt problems.
See lessLoan functions in a different way and most people take on loan because they have a pressing issue they want to solve for example, they want to pay fees and their salary is not due or they want to start a profitable business and their capital isn't up there. Taking a loan is considered as risk especiRead more
Loan functions in a different way and most people take on loan because they have a pressing issue they want to solve for example, they want to pay fees and their salary is not due or they want to start a profitable business and their capital isn’t up there.
Taking a loan is considered as risk especially when it’s being done for the sole purpose of investment as it can make an investor stranded if his investment fails to yield.
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