My cousin opened up a small canteen business three years ago. He already got back 70% of the capital he invested in his business and two more years he is sure that he’ll breakeven. But he can’t wait for two more years to open another canteen. He needs to open it now to keep up with the demands.
He talked to his parents about it and the three of them decided to apply for unsecured business loans. It will be a fresh capital infusion on their company and will fund 50% of the new canteen. He is ready for the high interest rates and monthly payments as his first canteen is doing really well. For his second canteen, operations will begin as soon as renovations to the place are done.
He is already planning a third canteen but he needs to get that loan first before moving forward with all his plans.
I am an accountant, a CPA. I'd been working for 10 years as a corporate rat when I decided to quit. I am now working at home as a consultant and full time blogger.
.png)
