Jamoflondon
Verified member
Lending is the act of giving out money to people or business firms with the aim to get it back with an added interest. I can certainly say that this is a very lucrative job to do even though some religious group are against it. No offense, I would prefer not to be specific about the name to avoid any controversy. Back to the topic, there are some process you have to go through in other to make it a profession, and one of them is you have to make sure you get approval from the government to avoid any future problems. This is done to ensure that you are being approved by the government just incase you are facing any challenges with some of your clients, it will be easy for the government to intervene since you are recognized by them.
Here are some of the ways to go about it in other to be successful according to my point of view.
1. Low rate of loan interest
2. Longer return duration
1. Low rate of loan interest: For a starter, you have to let your clients know that the interest you will be adding on any amount you lend them will be low, this will surely encourage them to do business with you.
2. Longer return duration: You have to make sure you give your customers enough time to use the money you borrow them, imagine a loan with a lower rate interest and enough time to use it. What else could be better than this.
Here are some of the ways to go about it in other to be successful according to my point of view.
1. Low rate of loan interest
2. Longer return duration
1. Low rate of loan interest: For a starter, you have to let your clients know that the interest you will be adding on any amount you lend them will be low, this will surely encourage them to do business with you.
2. Longer return duration: You have to make sure you give your customers enough time to use the money you borrow them, imagine a loan with a lower rate interest and enough time to use it. What else could be better than this.
