Anyone here had any success giving out personal loans to friends or trusted colleagues?
I've just finished getting paid back on a 10,000 dollar loan to a friend, charged him 15% interest over the year. He avoided ultra-high interest credit card debt, and I got a great annual return on an investment (it wasn't a huge part of my portfolio).
Anyone else participated in personal financial endeavors like this?
no, this is beyond retarded. 15% isnt even worth the risk of $10,000
great way to ruin friends and family as well
>>1353064
15% is a great annual return, and business and friendship can coexist.
I determined it was low risk based on specifics of the situation. My judgment was correct.
Why do have such a strong opinion? Do you have a personal experience with this?
The only reply I got had no advice backed with even anecdotal experience. Anyone have anything else to discuss with me?
>>1354441
I'm guessing it worked out well? How much profit? What are the pros and cons of this? I'm sorry if these are noon questions, I'm thinking of doing this but I've never really been good with money.
Well, obviously this goes without saying, but its not a bad idea if you keep each other protected by having the deal in writing. I sure as hell would rather get a 10, 20, 30 thousand dollar loan from a friend I'd trust over the Shekelton Bank
