Does a loan build or brake ?

Does a loan build or brake?

when to have a loan
understand a loan


I recently found 3 people discussing together and 2 in a disagreement while one in a dilemma as he was seeking for a solution to his problem. They where arguing about borrowing money from financial institutions, the money of which has to be paid back with interest. I managed to get all their names. Both James and Fred had ever borrowed money from banks, but unfortunately James borrowed money and added some of his savings and bought a car. With only his salary  partly paid but failed to complete the payments because it was not enough and his properties including a plot of land he used as security for his loan was taken and sold off and was given back a small balance of just $8 and went into a very worse situation than it was before. As a result James decided never to borrow again and he was strongly against borrowing and advising Bruno who had financial challenges and wanted more money to grow his business.  James normally borrows money and pays back very well and grows his businesses and other investments. The above scenario carries a lot to learn especially if you desire to attain financial independence. This time am not offering any solution in the above challenge but rather table this to the audience to come up with the best solution.                                                                                        What is your say about this scenario and what advice do you give Bruno?