Do you easily go for Bank loans?

By Nic
@academic2 (7011)
Uganda
December 9, 2007 5:40am CST
Bank loans are a way to open up new opportunities, that is if the money you get is put to the best use. Moneylenders in my country are very brutal to money borrowers-this leads me to ask, you, do you think twice before you go for loans?
1 response
@williamjisir (22909)
• China
9 Dec 07
Hello dear academic friend. I would not go for banks loans easily though I did for one time, but I was happy that the interest for the loans was low at that time. But now the interest rate for getting loans is getting higher and I am happy that I don't need to get any loan from the bank any more as I have already got my own house, which is the biggest basic need in life. Thanks for your discussion.
@academic2 (7011)
• Uganda
11 Dec 07
In my country, there are boggus microfinance agencies reaping off unsuspecting borrowers with very high interest rateit makes borroing very dangerous here.
1 person likes this
• China
11 Dec 07
Hello dear academic friend. Thanks very much for the best response. Have a good day and happy posting.