RANCHO CUCAMONGA, Calif., June 27, 2013 /PRNewswire/ -- Almost everyone thinks that to start a business, prospective business owners need to take on debt. This couldn't be further from the truth according to a number of entrepreneurs surveyed by loans.org who feel that it is unwise borrow money to start a business.
As blunt as it is to believe that some entrepreneurs are fools for taking on debt, could such a notion be true?
Loans.org interviewed six entrepreneurs to discern just how vital or unnecessary borrowed financing was to launching their start-ups. The interviewed entrepreneurs were clearly divided.
One entrepreneur said that she bootstrapped her business and only dealt in cash. She believes that had she borrowed money, it wouldn't have helped her become successful faster.
Another entrepreneur believes that anyone creative and persistent enough can run a business without borrowing money. He said that business debt creates additional stress in an entrepreneur's life.
But there were others who feel that borrowing money can be very beneficial for businesses.
One used financing to hire and pay employees — saving him from dipping into his personal savings.
Another entrepreneur borrowed money from the SBA which led to his company growing to over $1 million in sales and creating six additional jobs.
To read the whole news story, please visit http://loans.org/business/news/experts-claim-financing-is-unnecessary-92910
For additional information please visit http://loans.org/business
loans.org is a leading lending authority website that covers financial news, produces informative articles, and answers frequently asked questions. In addition to providing lending-related information, loans.org also hosts a variety of free online application forms for prospective borrowers to use when applying for loans.
SOURCE Loans Org, LLC