Welcome to SBL02: our weekly blog post where we address issues affecting your business, especially in relation to cash and finances. Today, we will be talking about the pros and cons of loans.
Let’s face it, Nigeria lacks an entrenched credit culture. So much so that the Central Bank of Nigeria (CBN) and the Bank of Industry had to urge Small and Medium-scale Enterprises (SMEs) to embrace a credit (or loans), as a means of growing business.
But are loans really all that bad? Are loans evil? Well, the answer is YES and NO. We have explained both perspectives using a simple infographic to summarise the pros and cons of loans on a business. Do let us know what you think. Remember to share with your friends too.