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Factors to consider before lending out money to people.
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[QUOTE="Phantasm, post: 342543, member: 94599"] These are the factors that you may want to consider when lending money to individuals; the credit rating of the borrower, his/her salary stability, purpose of borrowing, terms and conditions of lending, risk evaluation and collateral. Therefore when making major lending decisions it is important that these factors be examined carefully for effective risk management while simultaneously safeguarding one’s financial interests. You should ensure you comply with relevant laws. Communicate well with your borrowers regarding all aspects involved with loans. Determine the financial effect and options on hand. Reliability and track record should be considered. Decide wisely to reduce risks in order to promote responsible lending. [/QUOTE]
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Factors to consider before lending out money to people.
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