Two years back, i made a gross mistake of borrowing money to start a business!! Let me save someone today! DONT! Don't borrow money that accrues interest to start a business. Unless you intend to pay the loan with your salary. If you must borrow, borrow to expand your business venture. Businesses take long to grow or to be self-sustaining. Whereas loans should be paid consistently and immediately after borrowing with very short grace periods. Don't make the mistake i did. Be smart.