Do You Think Giving Out Loans Is A Good Business?

[Bisolami]

I'm sure that every one of us here is aware of loan applications or loan companies. They are too much these days and I can not count them all. My question is do you think it is a good business?

I have seen numerous cases where people take loans and refuse to pay them back the loan. The companies will begin to send messages to everyone on the person's contact list so that they will be able to tell him to pay up the loan.

I have heard that people no longer pay their loans. They just run away. Whereas, people are still engaging in this business.

What do you think about it?

 

[saoussen5765]

It is not a good business as most people are unable to pay back loan and delay in payments which let your funds that you loan people in risk.

 

[niche]

Giving out loans is a good business if the moneylender is well connected, has sufficient politicians, officials and recovery agents on his payroll to ensure that the most of the loans are repaid. In some countries the recovery agents are very effective in harassing people who take loans, some commit suicide due to harassment. The moneylenders are often funding politicians in some small towns, so they control the government and are very powerful. They then use their great powers to grab the savings and property of other citizens who do not have a support system, though these citizens have not taken any loan.

 

[Paul Abel]

There are bad sides to almost everything that looks good and vice versa. The business of giving out loans is a very good one and I think it should not be seen as a risky business.

Today if you go to the bank to get a loan, you will find that you won't just be given that loan because you said you should be given. But you will first be asked your reasons for getting the loan, your financial state: have you collected loans in the past, are you still paying a previous loans and many questions as this.

If you qualify, you will provide a guarantor that will be held responsible when you are unable to pay and some of your properties too.

As an individual, you may adopt all these and you will do that business swiftly without encountering much problems of lack of payment.

 

[saoussen5765]

There are bad sides to almost everything that looks good and vice versa. The business of giving out loans is a very good one and I think it should not be seen as a risky business.

Today if you go to the bank to get a loan, you will find that you won't just be given that loan because you said you should be given. But you will first be asked your reasons for getting the loan, your financial state: have you collected loans in the past, are you still paying a previous loans and many questions as this.

If you qualify, you will provide a guarantor that will be held responsible when you are unable to pay and some of your properties too.

As an individual, you may adopt all these and you will do that business swiftly without encountering much problems of lack of payment.

Most of loan requests from the banks are refused, so they rarelly accord a loan to someone after a lot of waranties and conditions that seems to be hard to be realized.

 

[Nightmare]

Giving out loans to people is actually a good business to do but you got to be quite careful.
In the sense, that you must be a cautious I.e you have get all the necessary information from the debtor before giving him a loan.
This business of giving out loans to people is a very profitable business, but that's only if it's been done properly and in the right way.
All that is needed of you to do in this business is to be able to make sure that all your debtors pay back your money on the agreed date.

 

[saoussen5765]

Giving out loans to people is actually a good business to do but you got to be quite careful.
In the sense, that you must be a cautious I.e you have get all the necessary information from the debtor before giving him a loan.
This business of giving out loans to people is a very profitable business, but that's only if it's been done properly and in the right way.
All that is needed of you to do in this business is to be able to make sure that all your debtors pay back your money on the agreed date.

Giving loans with interest is usury, so loans should not be subject of interest so debtor pay only what you lend him without this interest form or something like banks.