When starting a new business, you need money to get the ball rolling, but you need a start-up loan.  Here are some pros and cons.

Pro
You will have money to start up your business, so you will be able to purchase stock, equipment, premises and payroll if required.

Con
Your credit may be put at risk. Many business loans require a personal guarantee, meaning that your non-work-related finances are at risk if you default on payment.

Pro
Unlike if you were to get investor financing, you retain ownership of the business. Owning the business means all decisions are yours to make.  If you had an investor, they can decide on behalf of the company without your agreement.

Con
Start-up loans can be challenging to qualify for as banks ask for several metrics, including revenue, financial records and credit history, which your business would not have yet.