Augusta
VIP Contributor
My cousin just started a lending business as it is lucrative in my area now. Through him I have learn a little about the business and I know that there are things one need to consider when starting the business
So you need to consider the following factors when you want to start a d have a successful lending business
Location: You need to consider the location you would be having your store. Know that with lending it is people in the neighborhood that will be your customer. So if you are in poor neighborhood, you would be have poor people come around . You know what this means with repayment
Source of capital: Take into consideration your source of funding. Will you be able to get money from them even when you are yet to make full payment of the previous ones
Security of the business:
Lenders in my areas are sometimes attacked because the thieves know they are always with money. You have to consider the safety for you and your money.
Add yours?
So you need to consider the following factors when you want to start a d have a successful lending business
Location: You need to consider the location you would be having your store. Know that with lending it is people in the neighborhood that will be your customer. So if you are in poor neighborhood, you would be have poor people come around . You know what this means with repayment
Source of capital: Take into consideration your source of funding. Will you be able to get money from them even when you are yet to make full payment of the previous ones
Security of the business:
Lenders in my areas are sometimes attacked because the thieves know they are always with money. You have to consider the safety for you and your money.
Add yours?
