I would like to start a business similar to http://prosperousblog.blogspot.com/
Questions:
Where would i get the money to lend people?
What are the usual interest rates that banks give for loans?
How is this profitable?
I would like to start a business similar to http://prosperousblog.blogspot.com/
Questions:
Where would i get the money to lend people?
What are the usual interest rates that banks give for loans?
How is this profitable?
Check out this blog post for the answers to your questions:
http://www.stevekrause.org/steve_kra...r_and_zop.html
Also, double-check the business model... you don't have to come-up with any money to loan anyone. It's a way for lenders/borrowers to meet-up. You charge a small % commission (in this case 1%).
Aaron
so its basically like ebay. capital comes from commision/fee charge?
any tips on how to secure transactions? or how i would go about starting? im 15 by the way.
also how much is interest from the bank because you would be competing with them right?
www.prosper.com you could be a lender on there.
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