Do you recommend giving loans?

[Shigobad20201]

Loans are designed and created to help people out of problems, to sort financial needs and to uplift and help a hand that needs help but i can't advise people on getting loan to start a business.

 

[nimzy]

Given out loan is never in my priority and i don't wish to give out loan and not even some one asking me for loan because i don't trust human when it comes to the issue of money. when one is given money in forms of loan or to be given in return may tend to denies the agreement.

 

[Felixko]

Usually, I don't recommend giving out loans without making some certain agreements because some people are not trustworthy and you may end up losing your funds.

 

[Setho]

You shouldn't give loans when you are just starting a business though. Even if you eventually give, it should be for something sustainable and have an automatic repayment method that you wouldn't have to stress yourself.

 

[Razor1911]

I personally do not like giving loans. Though some of our relatives do such things. But it is quite risky. Because if people have the ability to pay back, they will take loan from banks which offer better rates. If someone asking loan from me, surely means there is something fishy that the borrower did not go to the banks.

 

[Setfragil]

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

I agreed with you to some extents. Giving out loans is a good thing especially when it saves someone's business but extra caution must be taken when considering giving out loans especially to family and friends. I only give out the amounts I can afford to lose as loans in case the borrower default in his payments.

 

[Senator]

I wouldn't recommend anyone to give out loans to their friends, relatives, people in their informal relationship because this set of people are not likely to repay their loan due to the kind of relationship you have with them.

To some extent this is correct. Some of these set of people might end up not wanting to pay back these loans because of the level of familiarity that already exist between you and them.

 

[Niftyyem]

From past experiences of loaning out funds and not getting paid, I would rather give an amount that I can afford to forget if not paid back. If I get paid back, it's all good and if I don't, no regrets.

 

[eLdavis]

I dont recommend giving out loans, first and foremost i dont even have the extra cash to give to others as loans. Then when you consider the stress of getting some of them to pay back and the fact that some actually succeed in running with the money, its quite discouraging

 

[Josemendez]

Loan is another good way to earn money but it must be given to those who can be able to pay back and the loan must be insured with a collateral for safety purpose

 

[Jlife]

If the person you are giving out a loan to is trust family member or a friend and you are very sure that they will be able to pay back the loan, then there is nothing wrong with that, but in generally I do not like any loan giving.

 

[Senator]

Giving loans to these different cartigory of people will determine the manner I will give the loans even though I don't give loans personally. Friends will require official documents to seal such arrangements while family members may not

 

[Kane]

In my home country, lender makes a lot of money. However, I do not have that kind of money to lend. However, if I had money, I would certainly lend money to the needy people.

 

[Setfragil]

Usually, I don't recommend giving out loans without making some certain agreements because some people are not trustworthy and you may end up losing your funds.

That is the best decision when giving out loans to people. You don't trust people with your money without some form of signed agreement between the parties that is involved.

 

[Jlife]

Giving loans to these different cartigory of people will determine the manner I will give the loans even though I don't give loans personally. Friends will require official documents to seal such arrangements while family members may not

There are some people I will never give out my money as a loan to them because they will never pay back, there are so many things that you need to consider before you offer out a loan to anyone

 

[Hena101]

Personally i don't recommend giving loan more especially when interest is included because at times the person that collected the loan will suffer losses and must pay back.

 

[Jsoliu004]

you can't really know who's going to pay and who's not, giving loans might unfortunately ruin your relationship with people because some people are just not that serious to pay back

But the only app that i know ,that given lone is Opay is the only app that given out lone straight to your bank account,but I can't say the total amount that they given

 

[Ub40]

Actually, it is not good to give loan without repayment agreement, but there are some people that will still not be able to pay back even with repayment schedule. Personally, I will advise one to give a loan amount he or she can afford to loose. It is just my opinion.

 

[Nurudeen]

I don't think I can give someone my money without any repayment agreement plan. Lots of people often borrow money without having intention to pay back and that's bad

 

[Iduwaoma]

Do you recommend giving loans to friends, family, or somebody you know without a formal repayment agreement, that you might get from a bank, for example? Has anybody done this before? What were your experiences?

Giving loans to friends and family members could be very risky. However, it depends on the level of trust that has been built in the relationship. Personally, I prefer to give cash gifts to friends and family in need to the best of my ability and then forget about it.