Question: I applied for a soft loan of N120,000($730 Dollar) which will be paid to me after my guarantor must have signed the agreement form. My fear at the moment is that the interest rate is 25 percent for a repayment period of 90 days.Though my business is very lucrative should i take the loan?
Answer: Yes you can take the loan since your business is lucrative, ninety days is a good time for repayment.
But if the business is not highly in demand, then you should go for a loan that can be spread between six to twelve calendar months. Every business need a passage of time to grow.
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