Monday, 12 October 2015

Bella Naija's post: Borrowership 101

In Principle of Finance class, I was taught that the sources of funding include; family and friends (F&F), grants, financial institutions etc. Apart from F&F, other sources might require the borrower to meet certain criteria. (Read up the 5 Cs of credit if you are getting funds from a financial institution.)

A couple of weeks ago, I decided to clean-up my internet banking by deleting beneficiaries I did not foresee future transactions with. As I cleaned it up, I realized about 3 or 4 people who promised to payback funds borrowed by month end did not fulfil their promise – 2 out of these people never mentioned anything about the money till date.

 Edited by AOB

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