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Loaning Money with interest....?

Trusted Member

hey all, i was thinking about different ways to make a little money on the side, and came up with the idea of loaning money.

i just have a normal everyday job paying minimum wage, but i have managed to save a little. the hours i work are very unpredictable and i know a lot of my colleagues are short for cash some weeks, but comfitable on others.

what i want to know is... am i allowed by law to loan money to them with interest? or is there some reason i cant do it?

ive got no previous experience in anything like this, so any information would be helpful, problems i may encounter etc. also, any help about writing up a contract would also be of big use to me.

thanks to everyone in advance.

Brampton Real estate agent

Topic starter Posted : 05/04/2010 8:58 am
Active Member

Re: Loaning Money with interest....?

The bank loan is paying off and it collect the interest of the money. The business developing microfinancing moved with best interest and starting the developing higher credit excluded. The right internal services are so ambiguous.

cpa nyc

Posted : 02/10/2012 9:44 am
Active Member

Re: Loaning Money with interest....?

That's right, the bank is the most reliable place for you to send money. Every month you will receive a interest of the money

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Posted : 08/11/2012 7:16 am
(@virtualbusiness assistant)
Eminent Member

Re: Loaning Money with interest....?

Loaning money needs to be done with advocate guidance. You need to have correct measures to give loan.

Posted : 22/01/2013 5:23 am