Money Lending Business - Forearmed Is Forewarned

[Mike from BDA]

 

After all..even the largest banks will have some defaults occasionally!

Yes, but it isn't so common banks get killed or put in jail because of they have loan business  :lol:

 

 

For my investments each pay me 5%.

Per year as it's common to count in "kano countries"?  :mocking:

That's 60 % per year (even almost the double of that, if geting pay back each month as in common 5-6)  so i suppouse your partners do the loans with highest interest...

 

I see the Indians here in the local markets charging 20% which i think is incredible really.  As i said i take 5% from my investments and i suspect that my partners are earning more then me...IF they lend at the prevailing rates here.  I am quite contented with that and happily take my 5%.  Win-Win so that potentially cuts down on my risk.   .  .  

[Call me bubba]

Investment/money lending can be good yet as others have said their are RISKS,

seems so far that Mike has had a good experience

 

what I like to ask Mike from BDA

or others who have invested in "money lending"

 could you also share w/us the good with the bad that you have experienced so far.

(and in a few months share again)

,

[brock]

A money lending business is illegal for foreigners to run, Also very dangerous, Why do people get involved with such things, I really have no pity for them when the sh&t hits the fan.

[Thomas]

I see the Indians here in the local markets charging 20% which i think is incredible really.

There are many Indians in the RP loan shark business. Perhaps that's why several Indians with same family name have been murdered recently...

or others who have invested in "money lending" could you also share w/us the good with the bad that you have experienced so far.

I know of two foreigners loan sharks (other than Indians) who can't tell, because they are dead...  :mocking:     (Both are murdered during the last year, but I don't know if it depended of their business or not.)

 

BUT I know some involved in "Harvest sharing" who have done it successfully and farmers even seem to like it, because it give them much better crops than they could have afford otherwice.   I'm not sure what the law say, but I believe "Harvest sharing" ISN'T "money lending", but a type of "temporary partnership" where one finance, the other do the work and they split the result, after costs are paid, so the invested money is paid back before counting the shares. Common shares for financiere are 25-33 %.

(I have written about it some more detailed in other topic. See link above.)

[Mike from BDA]

 

I see the Indians here in the local markets charging 20% which i think is incredible really.

There are many Indians in the RP loan shark business. Perhaps that's why several Indians with same family name have been murdered recently...

 

 

or others who have invested in "money lending" could you also share w/us the good with the bad that you have experienced so far.

I know of two foreigners loan sharks (other than Indians) who can't tell, because they are dead...  :mocking:     (Both are murdered during the last year, but I don't know if it depended of their business or not.)

 

BUT I know some involved in "Harvest sharing" who have done it successfully and farmers even seem to like it, because it give them much better crops than they could have afford otherwice.   I'm not sure what the law say, but I believe "Harvest sharing" ISN'T "money lending", but a type of "temporary partnership" where one finance, the other do the work and they split the result, after costs are paid, so the invested money is paid back before counting the shares. Common shares for financiere are 25-33 %.

(I have written about it some more detailed in other topic. See link above.)

 

hmmm...so lending money to farmers in exchange for profit is called 'harvesting' ...and is liked by the farmers and ok in your estimation.

 

but lending money to small business owners in exchange for profits is called 'sharking'...also liked by the small business owners...and NOT ok in your estimation.

 

Got it!!

 

Peace

[sjp52]

can be very profitable but a lot of risk involved. The more it grows the more risk involved. My wife was into it for a while and it kept growing and growing until threats came in then I made her quit. She knew a lady who has been doing it for 3 or 4 years but she has a big clan to look after her. There have been a lot of lenders killed in this line of work and im sure they said it was a great business to be in right up to the day they were killed. Its a business for people who like to throw caution to the wind

[Thomas]

 

 

I see the Indians here in the local markets charging 20% which i think is incredible really.

There are many Indians in the RP loan shark business. Perhaps that's why several Indians with same family name have been murdered recently...

 

 

or others who have invested in "money lending" could you also share w/us the good with the bad that you have experienced so far.

I know of two foreigners loan sharks (other than Indians) who can't tell, because they are dead...  :mocking:     (Both are murdered during the last year, but I don't know if it depended of their business or not.)

 

BUT I know some involved in "Harvest sharing" who have done it successfully and farmers even seem to like it, because it give them much better crops than they could have afford otherwice.   I'm not sure what the law say, but I believe "Harvest sharing" ISN'T "money lending", but a type of "temporary partnership" where one finance, the other do the work and they split the result, after costs are paid, so the invested money is paid back before counting the shares. Common shares for financiere are 25-33 %.

(I have written about it some more detailed in other topic. See link above.)

 

hmmm...so lending money to farmers in exchange for profit is called 'harvesting' ...and is liked by the farmers and ok in your estimation.

 

but lending money to small business owners in exchange for profits is called 'sharking'...also liked by the small business owners...and NOT ok in your estimation.

 

Got it!!

 

Peace

 

It isn't "harvesting" it's "harvest sharing".

/LENDING money to anyone including farmers to a very high interest, so some of them NEVER GET OUT OF DEPT*

/while the other is a PARTNERSHIP with a poor farmer, FINANCING so he can afford better seeds and fertilizer, so he get that biger harvests, so the FARMER get BETTER PROFIT even AFTER he has paid the finansiere his SHARE of the harvest...

 

In the LOAN situation the farmer has to pay much UNDEPENDING of if he has earned anything by the loan,

while in "Harvest SHARING" the farmer give a share of the HARVEST he got by geting the assist with FINANCING his farming, and he get a BIGER HARVEST. Many farmers are so poor, so they don't even have seeds, so they would get no harvest at all if they don't get financing...

 

So it's a HUGE difference.

 

*E g in one CRAZY LOAN deal, an old Filipina had been fooled to an agreement to pay 1000 per month for a 7000 loan with 20% per MONTH interest, making the loan amount GROW, although the agreement was FOLLOWED!... :bash:

[Steve & Myrlita]

Remember, here it's cheaper to kill the lender than repay the debt.