New Delhi, April 16 -- As India's economy and startup ecosystem continues to flourish and grow, several aspiring entrepreneurs are exploring financing opportunities to kickstart with their own ventures.

One of the most prominent options to meet these demands is utilising personal loans to fund business ventures and initiatives.

Now, this approach offers several advantages still, it also comes with its set of challenges that potential borrowers should be clearly aware of. This write-up is dedicated towards discussing these concepts in detail.

Personal loans are loans that do not need collateral. They are generally unsecured and are used for several distinct purposes such as education, medical expenses, repayment of other high interest r...