Lending Money

[tyrim88]

Well I have lent money to a few people in the past and have had both good and bad experiences - some paid back and some didn't.
One thing I'll consider before lending you money is to see your means of income that'll assure me that you can pay back conveniently.

That would be if you and the individual have a proper binding agreement for the repayment of the money,because in the case of repayment,most likely collataral are used to secure the loan amount.

 

[joy101]

I don't usually lend out money to family, friends, or colleagues at work purely because of the financial risk it imposes. I try to avoid loans as a whole, due to the interest (APR) companies charge monthly. It's a rip-off.

I don't really like the business of lending money to people because this kind business is very risky business, that is why I don't really like the idea of such business, for me I try to avoid such business.

 

[Chibson]

borrowing money is something I try as much as possible to avoid especially using it to venture into a business. I think if you have a collateral you can use banks or lending institutions.

 

[Shigobad20201]

I don't really like the business of lending money to people because this kind business is very risky business, that is why I don't really like the idea of such business, for me I try to avoid such business.

Though , theres a lot of gain in the business of lending money out to people , but there is also many disadvantages attached to the business and its not advisable to engage in such business .

 

[joy101]

Though , theres a lot of gain in the business of lending money out to people , but there is also many disadvantages attached to the business and its not advisable to engage in such business .

We all know that there is a lot of gain in such business as you said, but it is very risky business if I may say because most people that I know who is into such business some of them normally complain how them lose money in such business.