How to make money by lending loans

[Sariana23]

When you are involve in a lending scheme or an anchor borrower programme,that is where you will come to understand what lenders face while trying to recover those loans.One need to be tactical in how they can recover their loans.

That is why I made the publication, since some time ago I made loans, unlike other countries, I asked for a guarantee to recover the capital and thus not incur losses. Since it is difficult to recover a loaned capital, if there is no guarantee.

 

[Senator]

Well this model of business sounds interesting and also good. But since I am not one that is poised to collecting loans, it won't really be my type of business I would want to get Involved in

 

[tyrim88]

That is why I made the publication, since some time ago I made loans, unlike other countries, I asked for a guarantee to recover the capital and thus not incur losses. Since it is difficult to recover a loaned capital, if there is no guarantee.

Except you do it that way,because the act of lending money to people is not a very easy job,you need to have the experience needed to manage credit and do a proper follow up so that you money would'nt get loss.

 

[Sariana23]

Except you do it that way,because the act of lending money to people is not a very easy job,you need to have the experience needed to manage credit and do a proper follow up so that you money would'nt get loss.

It is by no means easy, you should always be cautious when making a loan, because if there is no maximum caution and seriousness, there is a high probability of losing the capital to irresponsible people.

 

[Blessedsam60]

Yes for sure, I have also benefited from them. Although their interest rate is too much. The last one i borrowed was 18k to be repaid with 23k within 2 weeks. That's too huge men

 

[Adebayonle7]

I do not advise that you go into such business due to the high risk level involved. Loan businesses as of today complain bitterly as regards numerous borrowers who have refused to pay back their loans thereby affecting the business negatively.

 

[Sariana23]

I do not advise that you go into such business due to the high risk level involved. Loan businesses as of today complain bitterly as regards numerous borrowers who have refused to pay back their loans thereby affecting the business negatively.

I think this happens when there is not good planning when becoming a lender. In my country to enter this world, contracts are filled out, people as guarantors and products, that depends on the amount to lend. Even bank agreements can be reached in case the applicant does not pay off the debt.

 

[Seno inyang]

Loan servicing- lenders can make money by servicing the loans through the mortgage, which earned them a periodic fee of a small percentage of the loan. Loan closing fees- expect some fees at the closing of a mortgage deal. Every lender charges different closing fees.

 

[Lens]

I regard the loan business as a very risky one. I have gone through comments above and I will like to reiterate on the fact that the success of the business depends on the kind of people in your area. For instance, such business can not strive on my area because people here would take loan and will never make repayment.

 

[kayode10]

Managing a loan scheme can be very difficult because once people get the money it can be very difficult for them to pay back. They might not be willing to hold your money for long but circumstances and situation may prevent them from paying your money on time.

 

[Ub40]

I can confirm that this is a very lucrative business. But There has to be collateral or even guarantor when getting loan because some people refuse to pay back which will result to inviting the police. That is just my take. Thanks for sharing.

 

[Laurentta]

No i've never thought of this method. Although i know one of two person who uses this method and it work for them, i can never give it a try because i'm scared of lending out my money and not getting it back.

 

[Heatman]

As far as I'm concerned there is nothing that will push me into the business of lending money for interest when those that I lend money to pay back because I don't have the energy to drag with anyone to pay me my money.

 

[Elfinito]

Lending money can be a very profitable business but also a very risky business as I have withness a lot of lending company struggling to get their money from debtors

 

[joy101]

The business of leading loans is really a good business because most people that is doing business they make good money from the business, loan business is a nice one.

 

[Abigael]

I do not advise that you go into such business due to the high risk level involved. Loan businesses as of today complain bitterly as regards numerous borrowers who have refused to pay back their loans thereby affecting the business negatively.

That is right. This is a very high risk business. Especially with the way it is so hard to get back money from defaulted borrowers. You will go through such a stressful and most of the time an unsuccessful process.

 

[Good-Person]

Well, I do not want to make money by lending loans because my religion does not allow me to make money by earning interest, so this is one of the reasons why I would rather invest capital in a business and avoid earning interest.

 

[Skysaint]

You could earn money my giving out loans to people where they have to pay back with an interest rate but if you are not very careful, you might end up regretting your actions. So it's better to document any of your transactions so as to avoid unnecessary troubles in future

 

[Abigael]

You could earn money my giving out loans to people where they have to pay back with an interest rate but if you are not very careful, you might end up regretting your actions. So it's better to document any of your transactions so as to avoid unnecessary troubles in future

Lending out loans and expecting some interest when paid back can be a really good business. However, you cannot expect people to always pay it back. So this business is very risky, I don't know which security measures should be used with it.

 

[Godspower]

This is a very good idea. Giving loans to trusted and credible people or businesses for them can be a very good investment in the long run when they are able to pay back. However, you must always deal with trustworthy organizations or people.