Is it okay to take a loan to fund a start up?
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Although, I don’t think its a right choice. But sometimes people don’t have any other choice, and the only option is to turn to taking loan. Most of the banks provide personal loan at a rate of 15% or above this. It’s not good to give an interest of 15% on a startup and it will end you in a big problem. Better idea is to get a good loan from a venture capital or any goverment fund.
It depends how much you believe in your business. It is neither good nor bad. If you think your business will give you a better lifestyle and income over time, it’s worth pushing your limitations and overcoming some fears to make into happen. If you’re too risk averse you almost will never get anything done. Things will remain the same.