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Rates from banks are at 10 per cent and not willing when you owe the government

Interest rates from banks are currently quite high, hovering around 10 percent. Additionally, if you owe money to the government, financial institutions may be hesitant to lend to you. As a result, it's important to prioritize paying off any outstanding taxes before seeking credit from a bank. By doing so, you can demonstrate to lenders that you are a responsible borrower and increase your chances of being approved for a loan or line of credit. Additionally, it's worth exploring alternative sources of financing, such as private lenders or crowdfunding, to supplement any bank loans you may receive. While these options may come with their own risks and challenges, they can be a useful tool for expanding your financial resources and achieving your goals.

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