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Advantages and Disadvantages for an individual to borrow money from…
Advantages and Disadvantages for an individual to borrow money from sources
Advantages
A Bank
State patronage
Proactive in the borrowing process
Extremely preferential loan project
A friend or colleague
Many sources from friends.
Easy to borrow
Borrow quickly
A loan shark
Get quick liquidity
Easy to borrow money
Have a large loan
A member of your family
Fast liquidity
Long repayment period
Easy to borrow
Almost no interest
A pawnbroker
Can be repaid early
Interest rate according to loan term
Fast
A credit-card company
Clear working procedures
Have capital to pour down without having to find more
Sponsored
Disadvantages
A Bank
Cumbersome loan procedures.
Erratic up and down interest rates
High monthly interest rate
A friend or colleague
Not transparent loan procedures
Easy to get emotional, not proactive in the borrowing process
No legal protection.
Unclear interest rates
A loan shark
Short repayment period
High interest rate leads to inability to repay
High interest rate for loan term
A member of your family
Afraid to borrow for too long without the ability to owe
May be divided
The loan amount is not much
A pawnbroker
High interest rate
Loss of items if not paid on time
Value depends on material
Poor security
A credit-card company
Having to report periodically
Dividing profit percentage
Many procedures
Financial control
Group 4: 1. Bùi Hồng Quân, 2. Lê Việt Chi, 3. Lò Duy Tùng, 4. Đào Mạnh Hiếu