Do you recommend giving loans?

[Bookwormlux1]

Instead of giving loans, I prefer rendering help where necessary. This issue of love and usually brings problem among friends and family members. It's better to help than to consider giving out loans.

 

[Bigabigs]

Yes I can recommend giving loans to family members even if it is interest free loans. It is only from family members in particular that we mostly get the support we need. Not all families are that futunate though

 

[Setfragil]

I do not totally against giving out loans to people especially those ones that are very close to you. Sometimes it might be difficult to do but it might saves a life or a business. Giving out loans to people that are not close to us should be done with collateral involved in case they default in their payments.

 

[btaliat]

I have done it befor but it is because I am very sure the person will pay back as and when the loan is due. But I don't think I can ever do it again. I hate involving myself in financial imbrogolio

 

[joy101]

I don't recommend of getting loan to start a business or whatever, because I prefer to save before starting any business of my choice, so the best way is to save before starting up a business.

 

[GIFTMICHAEL]

That happens around family members, friends, love ones etc. You can render your family member or any other person familiar to you finance help without collateral or interest during unscheduled repayment time.

 

[Alexandoy]

I used to be over generous to relatives and friends. When I got a high-paying job in a bank I felt like a millionaire and I was so happy to help a lot of people. That was a neat lesson to learn. I lost a lot of friends who borrowed money without the intention of paying simply because they avoided me. With that experience I stopped lending money to people.

 

[Eodine]

I can give interest-free loans to my relatives, friends, or anyone who is in need. This is one of the best ways to help people. However, I would only give loans to people after I make sure they will be able to give me my money back and after carefully analysing their business strategy plans. No one would risk money, am I right?

What if the family made adequate plans and had a good business idea but faced challenges when starting the business? What would you do? Would you be angry with the person

 

[Fizzy_boi]

Definitely giving loan isn't bad at all it's something I can ask for to build up my self and business so to pay out the loan and invest more with the gain and profits from the business.

 

[Spicywilfred]

When giving out loans to individuals family or no family requires a form of agreement, for me I can only give out loan to a close family member immediate family to be exact without agreement.

 

[Ayokex]

Doing things with family is one of the toughest things ever to be honest. It is extremely risky that you should lend our money to your families and friends without any paper work or plan to pay. They should be made to understand that you also need that money too at a certain time and they should hasten up to pay.

My stake here is that I can't borrow friends or family members huge amount of money because it will eventually result in serious enmity. I these people default in payment you won't be able to a any strict measure against them.

 

[Richard92]

Yes I will recommend giving of loans because you help little traders in order to have good start up in their business what I will not recommend is high interest in loan because that also forced a trader in terms of paying back their loans.

 

[Sotherefore]

if I consider giving a loan for someone to start up a business everything must be agreed upon and written down in a document signed by a lawyer in case the person I give out the loan does not want to return my money we know where to start from, it could be risky if you give out a loan without writing an agreement.

 

[Giannis]

Not really.I recommend you to give loans only to people who you trust or a person who has given you or gave him in the past and everything worked fine.

 

[Abigael]

I don't recommend giving loans to friends,family or somebody i know without a formal repayment aggrement,because i ones did that for a friend of mine,but he has not even call or care to repay,so i don't think i will be able to do that again,i have learnt my lesson

It is only recommendable if it is a small amount that won't hurt you when they end up not paying back. But for large anounts of money, you may need to put up security measures to ensure that they pay back, even if they are close friends and family. You cannot just trust them with larhe sums of money.

 

[tyrim88]

In my clime here,we do what is called lending or reach out especially to friends or family members,the grands does not come with interest and can be paid at an agreed date.But i have had some experience,where i have to lend to some friends and some of them returned it as agreed on time while some returned theirs a bit later than they have agreed.

 

[Senator]

Giving loans to friends or family members without the formal agreement papers to pay back even if the person is actually meant to pay back depends on how both you have are close. Otherwise, a written agreement should surffice.

 

[Sheyemanu]

Well, in reply to your question in the above post concerning what i think about giving loans to family and or friends without any formal repayment agreement, well i wouldn't say uli shouldn't load your friends but tread carefully

 

[Kunkun]

Well giving out loans in this forms to known individuals without an agreement or something usually ends in regret more than repayments, I think whatever jappend speaks more about the borrower

 

[nimzy]

In terms of money issue I don't trust anyone to an extent that I will give out loan with an evidence. given loan is quite good if there will be a benefit of interest or even to friends who want to start a business of their own. but u can offer loan with out evidence of given and acceptance by the person.