What are advantages of obtaining a Bank Loan ?
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In my point of view bank loan is good source of finance. They are - Reliability – Loans are very reliable and secure, you are assured the money for the duration of the loan (unless you break terms and conditions), and the odds of a bank or major lender requiring immediate pay back is tiny. You will also be fully aware of what you owe and your repayments (unless you choose a loan with a variable interest rate). Cost – Compared to many other forms of finance, a bank loan is very reasonable in cost. Although loans are not cheap, they do not have the interest rates or charges of credit cards and overdrafts, and do not require you to give up a portion of your business as you would with investors. Equipment Life – If you are using a loan to buy equipment, you may be able to tie the loan to the usable life of the product; saving you from having to pay out in one go for expensive machinery.
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