positive and negative impacts of loans?Answer in points
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Positive Impact:
☆Flexibility and versatility.
☆Lower interest rates and higher borrowing limits.
☆No collateral requirement.
☆Easier to manage.
☆Interest rates can be higher than alternatives.
☆Fees and penalties can be high.
☆Higher payments than credit cards.
Negative Impacts:
☆Loans are not very flexible - you could be paying interest on funds you're not using. You could have trouble making monthly repayments if your customers don't pay you promptly, causing cashflow problems.
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