Do you recommend giving loans?

[Tislad]

This is a very hard time for everybody round the world and loan giving might really not be advisable but if the trust is there why not?

 

[kayode10]

The only thing I can say is that you should give us the money you are willing to go for go. The reason is that it can be very difficult to collect loans from individual.

 

[Abigael]

The only thing I can say is that you should give us the money you are willing to go for go. The reason is that it can be very difficult to collect loans from individual.

Yeah, right. It is best to only give out loans that you can afford to loose. Giving our all your money will put you in a high risk of remaining with nothing. Some people can be really hard in paying back loans.

 

[Heatman]

When it comes to money people are very adamant and cunning, very difficult to manage. I cant give out the money I can't afford to lose to anybody.

Seriously, there are some people who are actually just like you as well when it comes to giving out their money and it's really hard when they have been betrayed in the past.

 

[nimzy]

Well given our loan to any body or any business ventures is for my own better because I will definitely generate some amount of money from that depending on how long it will takes the person to refund me back by giving him conditions.

 

[kayode10]

I don't usually give us the entire money the person is asking for. I only keep the amount I Believe I Can forgo. I will simply say no if the money is too much for my capacity.

 

[nimzy]

Yes I recommended given out loan but it depends on the kind of person who wanted the loan and the purpose of which he needed the loan for. if it's a serious person and with serious motives then definitely I will offer him loan.

 

[tyrim88]

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

giving out loans to close relatives and friends is not actually a bad idea,because we are actually giving a helping hands to those who are in needs.we should give out what we can afford to let go.

 

[Stnicholaz]

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?

I will never recommend giving loan to friends, family or anyone I know without formal agreement. When it comes to money and business there is are limits or boundaries you have to set and the above is one of them.

 

[Kelly5]

Of you are giving loans for a repayment to anyone you espect to pay you back, I will advise that you make a formal kind of arrangement than thinking familiarity will help anything

 

[Senator]

If this person is my very close relative, I can give the person loan without any formal documentation of repayment. But I'd it is a friend or anyone else outside family, there will formal documentation

 

[Oliver4smile]

Actually giving loans to friends and families is not a very good idea as you may be unable to recover the loan if they failed to pay. However I have tried it before and it worked, I have loaned a family member some amount of money and got paid back at the right time. Also I have gotten a loan from a friend before and paid the money at the right time.

 

[Blessedsam60]

Yes I recommend that but firstly, giving out loans to a friend or a relative has to do with how you trust in the person to repay you back. I have experienced hat before, and even my loan didn't come with an interest as usual

 

[mcjerry]

Giving out loan to family or friends has not been good for me. Because most time that I give out loan. The person that I give out the loan to will not pay the loan. And I after I have asked for the repayment of the loan many times and they did not pay me, I will leave it for them and never ask them. So I don't give out loan to anybody unless I want to dash them for free.

 

[Tislad]

Giving loans depends on what kind of loan you giving, if you are giving a loan to get interest why not and if it is to your staffs sure I recommend loan giving.

 

[Shigobad20201]

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?

I only prefer giving out soft loans that won't affect me if I don't get it back to my famiky and relatives because its not easy getting back loans from family and friends.

 

[Ezekiel]

I do not recommend given loan to anybody without formal agreement of payment much less a closely related person.

 

[Good-Person]

I only prefer giving out soft loans that won't affect me if I don't get it back to my famiky and relatives because its not easy getting back loans from family and friends.

I think this is also one of the main reasons why many people might not be willing to give loans to people. In fact, even many financial institutions such as banks are quite picky when it comes to giving loans because it is never easy to get back the amount you lended.

 

[Yhubee]

Most times people capitalize on this and dont pay on time even if they have the money.Sometimes, a formal agreement is signed and the person involved might not still comply

 

[YERUS]

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?

I would never give out loans to anyone without a formal agreement.
Some people refuse to repay the loans they have received timely.
Recieving loans from the bank has its challenges as well; one may not be able to secure a collateral, repay the principal, etc.