You don't try this kind of business in Nigeria. They would close it down for you. In Nigeria, don't try money lending.
Money Lending Business
- Thread starter Hate2Wait
- Start date
There are lots of companies doing money lending business in Hong Kong. I see a lot of advertisements on YouTube and TV. These advertisements encourage young people to borrow money to travel, buy luxury items. I think this is immoral.
The money lending business is very lucrative but risky and I wouldn't try it.
Money lending business needs a toughie to be honest. But thier interest are very high which means they make a lot from it. I have seen people head over to people's work to force them to pay since they didn't bother to pay back after they borrow money, I find that as a lot of work.
I would never be comfortable lending my money to a total stranger for any reason whatsoever, even when I have to collect collateral from them I will still not be comfortable doing it.
I think that the money lending business is a very profitable one. However, it can be very risky because you may not get your money back from the people who borrowed it.
Atleast here in the states, there are laws on how loan offices can give out money, and how they can claim payments, if the person doesn't pay it back per agreement. The businesses that tend to deal underhanded deals, tend to be ran by those who don't obey the law anyways, like the mob.
You have a valid point because lending business is a very risky venture to try but we must not dispute the fact that so many people are making profit from this sort of investment.
It is crystal clear that people who involved in this type of business are making huge profit from it simply because the interest that they charge on the amount they give out to people as loan is huge
Money lending is a very good business that you will always want to try because it is lucrative.
There are many lending apps and companies here. I have been seeing their ads on Facebook, TikTok and everywhere. They charge high interest. I wonder if there are people being attracted to the ads.
Money lending is a very good business that I would wish to try another to make money because it is lucrative.
I also saw them rampaging on my Facebook page, but I ignored them, But I have not seen TikTol offering loans. It is weird of them to have a business like that. It is a risk that they have to get our credit card number.