Topic: Loan business here how (Read 360 times)

If I may give you some advice, you're new to these forums and your account was only created a few days ago. I believe you should become familiar with how these forums function as well as other important information about bitcointalk, even if you're just here to advertise your services. You must know  the forum rule and regulations first before doing everything here use these for that read before posting

It would be nice if you went there to find what you're searching for because I believe these types of talks have their own thread. However, even if you choose to do so, I believe your reputation in the forum need to be improve first since I think these type of service is been done by the people who have known by the forum members, After all, how could you imagine that these things could be accomplished at these time that you just entered the forum?

Try checking this thread that was created recently: https://bitcointalksearch.org/topic/start-a-lending-business-5453841

Several members with firsthand experience in forum lending have responded to that thread. I recommend that you first review their profiles. As a word of caution, a high-ranking member's status, such as "Legendary" or "Hero Member," does not guarantee they will repay you. For example, two old Bitcointalk members who were both Legendary and had made significant contributions to the forum defaulted on a loan -- which happen to be filipinos 

- https://bitcointalksearch.org/topic/loan-default-theyoungmillionaire-u-1180530-5233790
- https://bitcointalksearch.org/topic/--5294730

You can start your loan business here however there are already big players who have so much experience in Lending providing loans to users.

Go to Marketplace -> Lending (https://bitcointalk.org/index.php?board=65.0) and you will see people like shasan, DarkStar_, zazarb and many others already providing loans.

Go have a look at their threads and understand how they approach a loan request and how they manage collateral. Good Luck!

This is the reason why @OP is seeking an advice from the knowledgeable member of the forum.  @OP don't want to waste his time lurking around the forum reading unnecessary post to his goal.  He wanted to offer a lending service so obviously he would not read Bitcoin discussion or how to make quality post.  All he need is just the forum rule, lending rule which can be find in this forum board: https://bitcointalk.org/index.php?board=65.0

I also don't think @OP wanted to participate in a signature campaign to earn money.  There is a newbie account that started his lending business and it looks like his service is not ignored until he decided to stop his service.

WTF do you wanna jump into lending them cash instead of knowing your route around the forum FIRST?? cus it doesn't seem to me like you do..
Do you think anyone would wanna have a good look at your service thread? Even though you intend to provide the best offer? maybe some unserious, theft-minded clodpolls would - since they're always looking for the least possible ways to steal and run away with it....IS THAT WHAT YOU WANT??! I meannn,... Chill buddy. It doesn't even look to me like you've known the measures already... and that wouldn't be a problem if you've surfed the forum yourself. Secondly, ion even think you're serious about this whole idea - the last time I Googled through your post, it didn't say so.

Sandra 🧑‍🦰

I'm not trying to talk you down but you should also know that lending is a very  risky business  accompanied with alot of losses and you also need alot of patients and smartness to be able to run this type of service because there are people out there who are just here to scam people of their hard earned money and you also need such ability to fish out scammers  from the list of intended borrowers else you'll make some unbelievable losses you never imagined.

Another advice is that you also take out time to build a reputation on the forum so as to gain leoplex trust and respect on your services as well as getting to know your way round the forum.

Also be careful as there have been cases of people who buy accounts just to scam and spam the lending board and I will advice that you seek the mentorship  of @shasan  if you want to get started.

Trying to be a con man, but he doesn't know his place and is stranded in this forum.
and the crap he's talking about Making hundreds of thousands of dollars on $7 in 15 days already means he's only going to make false promises.
If there is still someone who is deceived by this promise then he is stupider than stupid people in general. Did she just want to make noise to get her attention? but I don't know if he will become insignificant once other people stop commenting.

Well, if you look at his first open thread, in which he decided to make a challenge:
"My goal is to start with $7 and in 15 days I'll turn this into $229376" - https://bitcointalksearch.org/topic/hi-im-trader-over-12-years-of-experince-here-is-my-goal-5455039
The plan: 15 days starting with 7$
Calculation: 7x2x2x2x2x2x2x2x2x2x2x2x2x2x2x2=229376"
And this, as you understand, must be related to fraud. Therefore, the possible purpose of the OP of this topic may be to receive a pledge, after which it will disappear from the forum.

it seems you have a lot of capital, if you are serious and want to do business loans you certainly have to build your reputation in this forum. You can browse forums first, promote your business on Marketplace or service boards. But in the beginning, people certainly won't trust your loan service, that's a normal thing. Promote with interest to find the first customer and provide a special service.

Welcome onboard OP.  You are on the right track identifying with this platform as you would get to know more and have good knowledge of what you have signed up for.

My advise to you is that you should not be in a haste to do something that you would regret in the nearest future. I would say this, take your time to gradually building your account while working on your reputation because what you have in mind doing here would need you such efforts as I have said earlier because no one would want to identify with such am account conducting loan and lots more and it would make it more difficult for members to attend to you when what they have already reputable loan giver here. It would take you extra efforts to be able to making sure you get the attention of a customer.
So therefore,

Secondly, how much you can earn should not be a thing of concern to you when you have not started it yet. What I would suggest is the you check the loan board to study how it works there and the rates and percentage of return borrowers request for loan with when making refund.

However, asking for collateral as I have seen in other loan board is not inclusive although if you want to ask, that is your own policy but as much as I know I do not think collateral Is involved as it is collateral Free but whom ever wants to default should be ready for  a red tag and negative trust. You should know yourself that this is highly risky to do.

You could easily start anyway since you are the one the is going to lend, I remember someone asking this question as well, I mean it's a great business you could easily earn an interest loan.

Just be aware that this kind of business is very risky, especially on accounts collateral, I would suggest not lend any members that doesnt have a great reputation here in the forum, that way you could avoid most of the scam members here, a lot of newbies asking for a loan here just report them. Maybe you can check out the lending section to get familiar first with the process of how members lend here, I mean you are still a newbie you could build a little bit of reputation here before starting your business that way your starting to introduce your profile, it can also help on your business if people see a trusted member they might easily trust you, I mean you have some competitors as well.

Yes. The links that you share can discuss suggestions and insights to find a middle ground and the right solution by taking the time to absorb information and understand the nuances of the loan business. right, Rushing to make decisions is unnecessary and not good for our health (Mind). by building a solid foundation before going any further is the key to success in any new venture.

I suggest that you don't focus on loans that can be made in this forum, because first of all you are new to this forum, and you don't have the proper requirements to borrow. The requirement is in the form of a good reputation, which you can get after you contribute well and are useful to this forum or to fellow members. So now you only need to make a good contribution to this forum, by participating in discussions, providing useful knowledge or information for others.
so that you can get a good reputation and after that you will most likely be able to apply for a loan in this forum. But to get a good reputation in this forum, it will not be done in a fast way. Requires a fairly long process, until you get that reputation. Although long, but that's the truth. Because if you don't do that, I'm sure you won't be trusted and won't be able to apply for a loan. Because you are still really very new to this forum, and you certainly won't be too trusted if you apply for a loan.

As newbie I made the same question and I received a lot of suggestions, can you read them here: https://bitcointalksearch.org/topic/start-a-lending-business-5453841

I'm still learning, we don't need to in a hurry.

The best advice will come to those who are already running this business for many years already like Shasan, check out their post if you can communicate with them the better.
It really depends but it should be within the rage of interest rates of other lenders if you're starting out it's better to lower your rate a bit.

If the loaner is of higher rank with a good reputation here collateral is optional but for lower rank without existing business here or not in a signature campaign, you have to ask for collaterals.

You can find this out yourself as you go along because you will meet different members who will ask for a loan and you have to deal with each of them with different terms and conditions

But the most important thing is protecting your business.

familiarize yourself with the forum, join discussions, and build up your reputation.

this depends on you, or you can ask members that have a lending business here on how much they earn from their lending business.

personally, I think you should, but there are lenders here that accept loan request that doesn't have collateral as long as they are reputable enough. just a note that just because you lend to someone who is reputable, doesn't mean there is no risk involved, there have been cases where reputable members decided to not pay the loan and left the forum.

I don't really know, perhaps ask the members that as a lending business here in the forum.

You are a newbie with no activities here which means you are inexperienced when it comes to things of this platform. Being experience here requires you to taking your time and going through the forum policies and guidelines so you could not default them. Knowing how to operate on board this platform should be your major focus now before thinking of starting a loan services here.

Although there is nothing wrong in doing such business here but can you be able to take the risk when you have no knowledge how the forum works?
If reputable members rendering such Services here would be facing issues of defaulters doing away with loam failing to pay back and they have years of experience onboard here but still it happens to them how much more about you that is a newbie with no experience.

I will advise you to focus first on working on yourself on this platform first before thinking of any other thing. Though it would take you time but it is still for your own benefit.

Op is not asking this question so that he or she can get a loan in the future, the Op is asking to know what is needed to start up his/her own loaning service here in Bitcointalk.

You know this is a forum and you don't know the person behind an account so it's very risky to carryout this type of service without seeking advice from those that are currently doing it or those that did it in the past how they were able to reduce the risk they encounter during their period. that's the main reason for this thread.

This is a very vague question- but I will take it literally as your post title suggests that you want to engage in a loaning business.

I do think that the best way to start with this kind of business is to establish yourself first in the forum. Along with the capital, you should also do some research about the forum users who would loan with your services. Avoid forum users who are newbies and instead, transact with high-ranking and well-reputable members for your security.

You should also have different kinds of cryptocurrencies at your disposal as different people want different cryptocurrencies. Lastly, remember that this is a risky business- expect to somehow lose some money at the first year of doing it.

Is there any possibility that you can be loaned as a new bie?
Is there any possibility that you can be loaned when when you are not yet making profits on Bitcointalk?
Is it that you were registered on Bitcointalk so you can request for loan?
 If all is yes, then i will advise you to stay consistently focused in learning and understanding the forum (Bitcointalk) before you venture in a loan, and also make you know the collateral before the loan and also do well to make sure the loan is something you can pay back when due in other to avoid red tags..

How much you earn is dependent on how much interest you charge. It is pretty much self explanatory and only needed a simple mathematics to calculate the diffrence (profit) between the ininital loan that you will grant and the payable amount with interest.



It is advisable to ask collateral since you do not know the person who will ask  for a loan here in the forum.  But some old lender had given and exemption to the account that is enrolled in signature campaign paid weekly in BTC.



You can start by planning and creating terms and compare them to the existing lending service here: https://bitcointalk.org/index.php?board=65.0.  Of course borrower likes smaller interest so try to think of a competitive interest that can entice borrower to taking your service.

Also, please take not of many scammers that will take advantage of your service.  Many had been recorded that after borrowing huge amount of money, they defaulted on the loan and abandon the account they used for borrowing.

Look at the Lending section on how much most lenders are asking as their profit for every loan they're giving to borrowers. Observe and compare on how many percentage they add on top of the loaned amount.

For those that you don't trust, it's a yes.

But if the person that you're giving loan is reputable in the community, you can give the loan without asking for collateral as the reputation of theirs is gonna be your guarantee.

If you don't like that then always ask for it.

I'd say it depends on how much risk you can take. If you want to minimize it as much as possible, then ask for mandatory collateral however collaterals must go to a reputable escrow otherwise, you'll just appear shady af given your rank. Here is a list: https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897

I suggest to get familiar with the trust system first (ideally, the whole forum) specially if you'll be doing no-collateral loans since you'll be basing that on overall account standing - basically just an assessment on how likely are they to pay you back/not run away.

As a newbie, I will advise you to stay focused and get insight about this forum first before you venture into the lending service.

Read the forum rules and regulations  before you can start, although a good reputation is needed for lending services.

You can visit the lending service section for more information.

You must consider good people. To consider good people, you can consider those who have higher rank and no red tag. Create a topic stating what conditions you want to give.

https://bitcointalk.org/index.php?board=65.0

If you want to make a business with that, you need to build a reputation first, because people can be scammed by you with their collaterals, so they need to trust you. A good way to build it, is to offer loans(with collaterals) with very low rates first, or loans with normal rates but without collateral. In this case you will need to assess the risk of defaulting from the borrower in order to offer an appropriate rate. Usually active users with high ranks not red tagged are less likely to default, especially if they are doing signature campaigns.

To run a lending service you need to build your reputation and be as professional as possible in your service. There is already quite a few lenders on the forum with high reputation, competing with them is a challenge, more so for an unknown newbie.

Depends on your interest %, it ranges for different services. And how many people actually use your service.

If you are asking this question then do so. Appraising those requesting a loan to determine who to offer a no collateral loan and who not to would complicate your service, you might also not be able to recover from the loss of a defaulted loan.

- Jay -

Any adivece ?
How much i can earn ?
Should i ask collateral always ?
How can i improve my service ?