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Enforceability of Startup Loan

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  • Enforceability of Startup Loan

    Dear Team,

    Your help would be much appreciated in understanding whether the wording of this loan agreement (attached) is enforceable in regards to prescribed terms.

    I am happy to answer any further questions.

    Sincerely,

    Reformed Founder
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  • #2
    Originally posted by reformedone View Post
    Dear Team,

    Your help would be much appreciated in understanding whether the wording of this loan agreement (attached) is enforceable in regards to prescribed terms.

    I am happy to answer any further questions.

    Sincerely,

    Reformed Founder
    Hmm, actually getting a loan for a startup is a good idea, but nonetheless it is very risky, because your startup can fail and you will owe a lot of money to the bank. This happened to my classmate. He decided to open his own business and for this he began to look for banks to obtain a loan. He searched for a long time and came across a review of a bank at https://foxycredit.com/dk/ferratum-lan. He contacted them and they approved his loan. Despite all his efforts, his project failed and he now owes the bank about 50k euros. So think carefully before such an important step!

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