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MemberAugust 26, 2020 at 6:51 pm
Borrowing is cheap at the moment, but needs repaying in 12 months.
Fine if you’re upgrading, and confident it will pay off, but some people investing on a whim because they can, may find it backfires.
Nobody knows if there will be a 2nd wave/lockdown?
There’s some good advice here, but ultimately you know your business best, and what is best for you.
Interesting reading different opinions. Another option if you’ve machinery already financed is to pay it off using the loan, and enjoy 12months free, and possibly a lower rate of interest.