Effective Loan Management

• When you take out a loan as a small business owner, it’s important to know how to manage well.
• Then, you are able to avoid dead-swamp (a situation which you cannot get out of), and your business can prosper.

Some ways to obtain loans effectively

• Borrow only the amount you can afford to repay
• Use loan only for the intended business
• Protect your family by using your loan effectively
• Ensure you repay your loan in due course to avoid incurring debt

Please share these tips with your family and friends. For more effective tips on financial planning, check out this blog (link here)