Why does it pay to wait? On using Business Loan for Personal Purchases
By: Jeanne Arieta
I know for sure that there are times when you are confronted with purchasing an item that you really
want or postponing it for a while to give way for prioritizing your needs. But then,
you thought of considering that you can dive into applying for a re-loan without fully thinking through
what you’re committing to.
Now you may ask, would it just be okay to use your business loan for personal purchases?
You have to remember that your liabilities should always be equated to your assets. Always think long term. In the business industry, not everyday is a good paying day. There are gloomy seasons, so we should always think twice before purchasing something major. More so, we know that a business needs financial assistance to survive. Now, if you decide to use your business funds for your personal wants, then there is a big tendency that the financial circulation would stop for a moment and that would really make an impact in your funnel of sales.
Another point to remember is: your company is a separate, free-standing entity. For it to grow, it must always have it must be associated with the expenses of someone else be it a company or a person.
So to answer the posed question, NO. You cannot use your business loan for personal purchases. There is a line between personal expenses and business expenses. But you can always use your net income to reward yourself for your hard work. Always remember that nothing worth having comes easy. If you know to yourself that you can’t still have that thing that you’ve really been wanting, just trust the process and continue to manifest that good things come to those who wait.
If you want your business to grow, you may apply at www.kayamo.ph and we are more than willing to help you. By applying, you’ll be getting up to P100,000 cash funding at 0% interest rate. More funds, more sales! And more sales means being able to purchase your personal wants.
Now you may ask, would it just be okay to use your business loan for personal purchases?
You have to remember that your liabilities should always be equated to your assets. Always think long term. In the business industry, not everyday is a good paying day. There are gloomy seasons, so we should always think twice before purchasing something major. More so, we know that a business needs financial assistance to survive. Now, if you decide to use your business funds for your personal wants, then there is a big tendency that the financial circulation would stop for a moment and that would really make an impact in your funnel of sales.
Another point to remember is: your company is a separate, free-standing entity. For it to grow, it must always have it must be associated with the expenses of someone else be it a company or a person.
So to answer the posed question, NO. You cannot use your business loan for personal purchases. There is a line between personal expenses and business expenses. But you can always use your net income to reward yourself for your hard work. Always remember that nothing worth having comes easy. If you know to yourself that you can’t still have that thing that you’ve really been wanting, just trust the process and continue to manifest that good things come to those who wait.
If you want your business to grow, you may apply at www.kayamo.ph and we are more than willing to help you. By applying, you’ll be getting up to P100,000 cash funding at 0% interest rate. More funds, more sales! And more sales means being able to purchase your personal wants.
