How to make money with peer to peer lending

[Mandy96]

This is one of the most lucrative ways of making money lately, it is quite easy to do and it does not require much of effort. All it deals with, is to lend people money directly without having to go through some official process, Do you know that sometimes people tends to need some immediate cash and they can’t seem to get their hands on it simply because there is no where to get it from.
Doing this kind of job, you must know some things in particular, you have to know that debt is not that easy to pay, so it will be safe for you if you could try to hold them to something. This is simple to make profit from, you will just have to lend people money and the person will refund it when it’s time but with some amount of interest on it. That is going to be your profit. It is just like a local MICROFINANCE bank that people who are in need of small cash can always count on. One of the tips I will love to share with anyone interested is that, you should not lend out huge amounts in order to make it easy for the debtor to pay back.

 

[Kingsley]

I have once sat down and tried to work out things on becoming or having a small business that wil focus on this peer to peer lending although not online but offline. The truth is the business is very lucrative but also very challenging.

Humanbeings are highly unpredictable so will promise to make repayment on an agreed date but before you know it such person will either abscond or prove difficult nut to crack as they will look into your eyes and tell you they don't have. Infact i have gotten a first-hand experience of this things. Sometimes you may end up spending more funds chasing your debtors.

Although it could be rewarding when you meet or have serious and honest clients

 

[Immilash]

That's very true. Debts are not easy to pay, that's why I don't advice anybody to take loans before starting any kind of business. Loans are easy to collect but hard to take it back.