Finances is very important in the life of we humans as it is a means of exchange of worth or value. We transact daily with money to achieve some valuable things in life and by it living is made easier. Due to some reasons such as inflation, high cost of living, bad economic situation of the nation, lack of financial management, high rise in cost of prices and others, there might be a need to opt for taking a loan either for a personal need or in case of an emergency. These loans can be from friends, relatives or financial institutions with an agreement either verbally or documented as the case may be.
Personally, i remembered i took a loan this year from a senior professional colleague of mine who we are so much close and he is someone very approachable to me. I filled an application for a registration which will involve getting the officials incharge to come and inspect my desired business location for approval and fortunately for me, i was told by the person incharge that if i can make all efforts to submit that application that day i went, the inspection team will visit the place likely the following day as i came right on time on their inspection week. However, i had a challenge because i had to pay a certain amount as fees which i didn't have at that moment.
I had to reach out to this my senior colleague because i don't want to miss that opportunity for registration as such comes only in scheduled time of which i had no idea of when next such may come. I placed a call through to this person and explained things to him even as i sought for a loan from him to quickly settle the payment as i promiseto refund him back in earnest as i have the money. He gladly does so and i was able to file my application with the inspection done the following day as mentioned. This loan was an emergency or urgent one as i didn't even plan for such because i didn't know the application will be processed that fast and also, to seize such opportunity.
Later, I reached out to this my senior colleague thanking him for the loan he gave to me and ready to pay back as promised, to my utmost surprise, he told me notto worry about the refund which cut me in surprise. I expressed my gratitude for this because it really cut me surprised. I was glad to be able to repay back on time as this reinforces integrity and trust of me and also, this loan been granted helped me to achieve what i desired to on a quick course. This shows that its always good to have the mind of paying back to time and reaching out to people who can help in time of need as each of us might not always have what we need at the moment in our disposal.
Therefore, loans might be warranted sometimes based on a pressing need but paying back on time matters to avoid embarrassments especially from financial institutions as stories are everywhere of different encounters by people. What determines how good or bad a loan is if it meet the need and the repayment done to time with the person bettter off interms of achivements of the target or need agter taking such. Thank you for reading and comments/contributions are welcomed.
This is my entry to @Hivelearners weekly featured contents, week 136 edition 03 on "THE GOOD LOAN"