/biz/ - Business & Finance » Thread #935678

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Anonymous ID:jU4Dmgx9 Sat 24 Oct 2015 08:19:09 No.935678 View Reply Report Delete

I want to make money by loaning small amounts to desperate people and earning a return on the interest ie 50 to 500 USD, and charging 5 to 20% interest on them. Wheres a safe and reputable place online to do this? Is it illegal in some countries? Could i possibly get into trouble?

Anonymous

Anonymous ID:VYzC/rxL Sat 24 Oct 2015 08:57:49 No.935695 Report Delete

Quoted By: >>935782

>>935678
Prosper and Lending Club

Anonymous

Anonymous ID:/HY/0b9d Sat 24 Oct 2015 08:59:09 No.935697 Report Delete

Quoted By:

>desperate people
>getting them to pay back

Anonymous

Anonymous ID:EDKXwhMA Sat 24 Oct 2015 09:03:15 No.935701 Report Delete

Quoted By:

You need to have a large sum of money, to be able to loan.
Do you have that?

Anonymous

Anonymous ID:Y/gnTPGu Sat 24 Oct 2015 10:55:24 No.935770 Report Delete

Quoted By:

>>935678
Car title loan business. If they don't pay back, you get the car. Might be hard finding it.

You could cash payroll checks for people. I'm an employer and it's pretty staggering the amount of my employees that take their Friday check down to the cash store. I'm not sure how much they charge, but probably like $5 a check. That's a quick profit with small risk.

Anonymous

Anonymous ID:6V2nzjsq Sat 24 Oct 2015 10:56:29 No.935771 Report Delete

Quoted By: >>935782

>>935678

scum like you deserve to be burnt alive

Li_Sheng !n54GAoW8Vs

View Same Google ImgOps iqdb SauceNAO remora-70M1061-02.jpg, 65KiB, 550x298

Li_Sheng !n54GAoW8Vs ID:9HBsoV70 Sat 24 Oct 2015 11:16:37 No.935782 Report Delete

Quoted By:

>>935695
This is the answer.

However its not a great business. Your returns are in excess of the stock market but not by much and compounding requires. At E and F grade loans have terrible default rates and I'm quite certain we're in a new credit bubble. D grade is where the risk matches the reward. Also this is a piecewise function so you need some money in before compounding hits. just take 25/ (your interest rate/12) and that should be the minimum amount you put in to achieve monthly loan compounding.

>>935771
Its people like you who apologize for others failures who need to go to sleep forever. OP is taking 100% of the risk on what amounts to a song, dance and a worthless piece of paper.
pic related. Learn your place.

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