Carpon
Valued Contributor
Money lending is an act of giving out money which will be returned after a specific period of time. There are ways through which you can make money from this. You can become a money lender without being a very rich or wealthy person. Anybody that saves and does it as a regular thing can be able to become a money lender.
You can earn from lending money by adding to the terms and conditions of your lending, the fact that any money given out will be returned with a percentage of profit. Usually, the percentage added as profit must not exceed 50% of the lended amount. This means that if your percentage profit is 20% and you lend $1000, you will gain additional $ 200 when your money gets refunded.
You can even make that a registered business and this will help increase your business popularity. But care must be taken so that while doing this, you do not make losses from bad debts or any other form of loss.
You can earn from lending money by adding to the terms and conditions of your lending, the fact that any money given out will be returned with a percentage of profit. Usually, the percentage added as profit must not exceed 50% of the lended amount. This means that if your percentage profit is 20% and you lend $1000, you will gain additional $ 200 when your money gets refunded.
You can even make that a registered business and this will help increase your business popularity. But care must be taken so that while doing this, you do not make losses from bad debts or any other form of loss.