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Young Entrepreneur Forums » General Business » General Business » Money Loan Business Idea



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Old 01-04-2007, 03:56 PM   #1 (permalink)
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Arrow Money Loan Business Idea
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?
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Old 01-04-2007, 04:31 PM   #2 (permalink)
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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%).

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Old 01-04-2007, 05:17 PM   #3 (permalink)
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so its basically like ebay. capital comes from commision/fee charge?
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Old 01-04-2007, 05:19 PM   #4 (permalink)
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any tips on how to secure transactions? or how i would go about starting? im 15 by the way.
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Old 01-04-2007, 05:22 PM   #5 (permalink)
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also how much is interest from the bank because you would be competing with them right?
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Old 01-04-2007, 05:41 PM   #6 (permalink)
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www.prosper.com you could be a lender on there.
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