Author

Topic: Start a lending business (Read 517 times)

sr. member
Activity: 832
Merit: 286
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May 31, 2023, 12:18:15 PM
#44
It's easy since you are the lender you could easily post your lending service on the Lending thread, post your lending agreement, etc. But since you are still a jr. member you might want to be familiarized here in the forum you make sure you know what you're doing because lending is a risky business there are a lot of cases here in the forum where lenders lose their money so you should be aware of that.
Still, you are the one that is going to approve every loan request so you could just pick trusted members to avoid getting scammed also don't forget collaterals if you're suspicious of lending to other members.
The main factor that must be prepared by the owner of the loan service must be to be able to select the borrower's account history, collateral guarantees, and the borrower will not leave the account for any reason because the reputation of the account is more valuable than the loan.

The risk of a loan cannot be ignored even though we are very careful in choosing the borrower's account, so OP must understand the risk and don't give high loans
sr. member
Activity: 1820
Merit: 436
May 31, 2023, 09:39:27 AM
#43
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you

It's easy since you are the lender you could easily post your lending service on the Lending thread, post your lending agreement, etc. But since you are still a jr. member you might want to be familiarized here in the forum you make sure you know what you're doing because lending is a risky business there are a lot of cases here in the forum where lenders lose their money so you should be aware of that.
Still, you are the one that is going to approve every loan request so you could just pick trusted members to avoid getting scammed also don't forget collaterals if you're suspicious of lending to other members.



sr. member
Activity: 882
Merit: 215
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May 31, 2023, 08:50:06 AM
#42
You got some good replies from Experienced members. Here I want to add my opinion. Don't rush, please. Before you open your business, observe how others operate their business. If you see they rejected some loan requests, try to understand why they rejected them. There are a bunch of scam cases where people scammed the lender. They took a loan and never paid. Sashan is one of the lenders who recently created a few scam accusations against a few users. Since your forum rank is newbie, I doubt you understand everything about the forum. You must consider many things and check your user account before granting a loan.

The main target is return. You have to judge if the user can return your money. How much is the maximum for a user. Make sure if a user is participating in a signature campaign or not. How much is he getting from the signature campaign. Check if the account has some Negative or Neutral tag. Make sure the account did not change hands (sold account). Check for how long he is in the forum. Check if he has an active loan or not. Check for how long he is in the signature campaign. There are many more things you have to consider.

Good Luck!

Yes, it is very clear the steps you described above in the process and stages, in addition to acting as a neutral intermediary, verifying and validating assets before continuing the loan and being an additional layer of security. At the very least this can create a safe and fair lending environment in the crypto space, fostering trust and enabling mutually beneficial transactions between lenders and borrowers.
hero member
Activity: 518
Merit: 547
May 29, 2023, 03:00:17 AM
#41
You got some good replies from Experienced members. Here I want to add my opinion. Don't rush, please. Before you open your business, observe how others operate their business. If you see they rejected some loan requests, try to understand why they rejected them. There are a bunch of scam cases where people scammed the lender. They took a loan and never paid. Sashan is one of the lenders who recently created a few scam accusations against a few users. Since your forum rank is newbie, I doubt you understand everything about the forum. You must consider many things and check your user account before granting a loan.

The main target is return. You have to judge if the user can return your money. How much is the maximum for a user. Make sure if a user is participating in a signature campaign or not. How much is he getting from the signature campaign. Check if the account has some Negative or Neutral tag. Make sure the account did not change hands (sold account). Check for how long he is in the forum. Check if he has an active loan or not. Check for how long he is in the signature campaign. There are many more things you have to consider.

Good Luck!
hero member
Activity: 1498
Merit: 711
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May 29, 2023, 01:42:56 AM
#40
If you want to start up lending in the community you have to make yourself to be known and you create your thread in lending sections since you have the funds to issues out, its obvious that my people will slide to your dm contacting you for money lending, it doesn't matter the status of your rank, what matters is reputation and if you can give out the exact amount someone wasted when you find out that the person is credible or worthy to return your fund's as agreed. Fund's use for lending has to be none budget fund's because when agreed to return funds you lend to someone the date can be rescheduled because the debtor don't have the funds to return at a point in time, so it's understanding between the two parties.
hero member
Activity: 1470
Merit: 555
dont be greedy
May 29, 2023, 12:05:27 AM
#39
I think you can start lending business with lower rank because you are the lender not the borrower usually borrowers need to be high rank to be trusted while a lower rank has low to be chosen.
There are many considerations borrowers may have when choosing a lender with a higher reputation and rank rather than a newbie. We want to avoid the worst-case scenario resulting from crypto price volatility. All parties involved in lending activities must adhere to the initial rules regardless of the fluctuating crypto prices.

Borrowers must return the borrowed assets even if their value is higher than when they initially borrowed the money.
On the other hand, lenders must return the collateral despite the decline in the value of the borrowed assets.

beside that if you have capital and want start to lending there is dozen ton of DeFi App out there that you can invest your money staking it and do nothing the example is AAVE https://app.aave.com/dashboard
However, it appears that he is more inclined towards promoting their services on this forum. Perhaps OP holds a different perspective, believing this forum to be a suitable platform to kickstart their lending business.
I would like to become a lender like others on this forum, ......
member
Activity: 308
Merit: 21
Crypto WEB3 Neobank
May 28, 2023, 11:59:27 PM
#38
It's normal that you have money but don't have a relationship and the opposite is already known but you don't have the financial ability to run any business, including what you said.

It can and all is possible. in this case I think the concept is the same as banks or other platforms that provide loans in crypto. still the terms and conditions apply and I don't think the financier wants to bother with default.

my advice Set clear and clear terms and conditions for loan transactions, including collateral requirements, loan terms, interest rates, and so on. Make sure all of these agreements are written and approved by both parties in writing and use stamps so that if there is one thing or another it will be easily resolved either legally or otherwise.
copper member
Activity: 2156
Merit: 983
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May 28, 2023, 09:45:47 PM
#37
I think you can start lending business with lower rank because you are the lender not the borrower usually borrowers need to be high rank to be trusted while a lower rank has low to be chosen.

beside that if you have capital and want start to lending there is dozen ton of DeFi App out there that you can invest your money staking it and do nothing the example is AAVE https://app.aave.com/dashboard

legendary
Activity: 2604
Merit: 2353
May 28, 2023, 01:59:16 PM
#36
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you
The best way to start, is to build your own reputation as reliable and professional lender by offering loans without collateral to begin. You can do that by creating your own credit scoring with your own criteria to assess the default risk of each borrower in order to calculate an appropriate credit rate to offer while making profits, or not losing money at least during the time you build your reputation.
sr. member
Activity: 1372
Merit: 348
May 27, 2023, 04:23:16 PM
#35
I don't know if this lender service works well in this forum but judging from the comment on here I think it works, but there is a problem, you are using a brand new account, this could make some people not want to deal with you even though you are the lender.

On this forum, I have seen people taking high rank accounts more seriously, your contribution and reputation have a lot to say about you, maybe they will want to do business with you or not.

I suggest spending some time on this forum first? Some comment said it's nothing wrong with being a newbie when you are the lender, but that's not completely true. I will like to do business with a high rank member om the forum than a newbie.

If you think of the scenario, @OP is the one taking the risk by lending people money.  There is already a newbie that offers a lending service and people seems does not mind the account rank and members who are in need take interest on his thread and apply for loan.  So I think people who wanted to take a loan won't mind the rank of the lender as long as it fulfills their need.  Besides offering a service does not have any account rank requirement.

I also think @OP must explore the lending section first and see what to learn from other lenders.
jr. member
Activity: 84
Merit: 4
May 27, 2023, 04:16:59 AM
#34
I believe that, as you suggested, I could start offering small loans to users with good credibility so as not to force them to trust me by entrusting me with collateral.
If, on the other hand, larger loans are requested of me, I will consider an escrow that guarantees both parties.
You have got the strategy of opening loan services for forum members, but you have to be prepared for the risk of losing funds because the credibility of the borrower's account is not a guarantee of returning your loan capital, you must anticipate proposals for applying for high-fund loans even from credible accounts because they can leave account history without completing payment loan. This case may very rarely occur in loan services, but anticipatory steps must be prepared from the moment you start the loan business.

You can open a loan service for low-fund loans and you have to increase your knowledge to check account reputation, maybe bpip.org and ninjastic.space will help you in selecting borrower accounts that submit loan applications. Your account reputation will grow when you have completed several loan activities and they will give you a +1 reputation as the best and most trusted loan service.


You are right.
Consider that I'm looking at services like bpip just now, i didn't know about it before.
(yes I'm really newbie, but I know it!)
Thank you!
hero member
Activity: 2282
Merit: 589
May 26, 2023, 11:46:13 PM
#33
I believe that, as you suggested, I could start offering small loans to users with good credibility so as not to force them to trust me by entrusting me with collateral.
If, on the other hand, larger loans are requested of me, I will consider an escrow that guarantees both parties.
You have got the strategy of opening loan services for forum members, but you have to be prepared for the risk of losing funds because the credibility of the borrower's account is not a guarantee of returning your loan capital, you must anticipate proposals for applying for high-fund loans even from credible accounts because they can leave account history without completing payment loan. This case may very rarely occur in loan services, but anticipatory steps must be prepared from the moment you start the loan business.

You can open a loan service for low-fund loans and you have to increase your knowledge to check account reputation, maybe bpip.org and ninjastic.space will help you in selecting borrower accounts that submit loan applications. Your account reputation will grow when you have completed several loan activities and they will give you a +1 reputation as the best and most trusted loan service.
copper member
Activity: 2338
Merit: 4543
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May 26, 2023, 03:08:52 PM
#32
However your answer is motivating me a lot, I hope I can start "copying" your experience soon.

If I were in your position, I would try to emulate one of the more experienced and successful lenders rather than trying to copy one of the newer lenders who's still cutting his teeth.

For example:

some people will try to push you down but just ignore them, as i said time will show your intentions.  Smiley

Don't be so quick to discount constructive criticism as an attempt to "push you down," even if comes off as trolling.  This is the internet, and we're all somewhat anonymous which makes trust harder to obtain than in real life.  If you're in the habit of doing things that look fishy, many will assume that you're intentions are not pure.  Be open and transparent with your borrowers, especially at the beginning.  There are plenty of seasoned, reputable members of this community who've been burned and will make every effort within their power to prevent scammers and shysters from gaining a foothold.  They may come off as suspicious, harsh, and maybe even rude, but if you look at what they've been able to accomplish in this community it becomes apparent that their intentions are pure.

If you do encounter a skeptical cynic or two, address their concerns honestly without getting defensive.  Keep the high ground, and eventually your personality will show through.  Whether that's a good thing or not will be up to the observer to decide.
jr. member
Activity: 84
Merit: 4
May 26, 2023, 10:35:18 AM
#31
Nothing is impossible if you really want to do it and have good intentions.
It will take time as everything demands time to build up.
But just start and do it serious and honest and it will work out fine, start with low amounts and good interest.
You need to feel your way forwards and go with what works for you.

My self got a small loaning service and i am still like a newbie, but I have been lending some money almost everyone has paid back.
I just building for the future and I don´t lend money I cant afford to lose since its hard to trust people, don´t put money you don´t afford to lose in the business since nothing is a guarantee.

If you doing it well with time people will see the process and the reputation will grow.
Just don´t rush things and go with what works for you, some people will try to push you down but just ignore them, as i said time will show your intentions.  Smiley

Good luck!


Before starting, I'm trying to gain experience by reading everything that goes on the Lending forum.
However your answer is motivating me a lot, I hope I can start "copying" your experience soon.


Thank you!!!
member
Activity: 196
Merit: 42
Don't talk the talk, if you can't walk the walk.
May 26, 2023, 10:15:13 AM
#30
Nothing is impossible if you really want to do it and have good intentions.
It will take time as everything demands time to build up.
But just start and do it serious and honest and it will work out fine, start with low amounts and good interest.
You need to feel your way forwards and go with what works for you.

My self got a small loaning service and i am still like a newbie, but I have been lending some money almost everyone has paid back.
I just building for the future and I don´t lend money I cant afford to lose since its hard to trust people, don´t put money you don´t afford to lose in the business since nothing is a guarantee.

If you doing it well people will see the process and the reputation will grow with time.
Just don´t rush things and go with what works for you, some people will try to push you down but just ignore them, as i said time will show your intentions.  Smiley

Good luck!
hero member
Activity: 2660
Merit: 651
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May 25, 2023, 05:01:51 PM
#29
Are there any other ways to get started?
The way you can start the lending service despite your account is to first know how crypto lending work on this forum and how to secure your crypto by only providing your service to the high-rank user with a good reputation.
The last thing, buy a copper membership.

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?
To protect your interest. You can make use of an escrow in some of your services but if it is not about protecting your crypto from loan defaulters there's no need for escrow.
hero member
Activity: 798
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May 25, 2023, 04:52:40 PM
#28
Started that will require a good reputation which you don't have yet....
Peeps might not even wanna borrow from you for that fact - except the ones that'll end up defaulting at the end of the day ...
Secondly, you shouldn't be asking to know the intricacies in here... atleast you've been visiting the lending board and you normally see their terms of operation....that should get you tutored enough.
It's important to know how much funds you've got in stock... If you're willing to let go a huge funds to someone for sometime before repayment.. what I'm tryna say in essence is - every lender creates his own terms of operation.

Sandra 🧑‍🦰
legendary
Activity: 1624
Merit: 2594
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May 25, 2023, 04:15:14 PM
#27



That sounds like a reasonable approach. Offering small loans to users with good credibility is a good way to establish trust without requiring collateral. It's a good way to build up your reputation as a lender, and it can help you identify high-quality borrowers who may be willing to take out larger loans in the future. This is one of the most important things a lender can do. If you can find ways to get people who are reliable and trustworthy to use your services, you'll have no problem building a successful business.

Just a quick note, there's no need to create multiple topics covering the same content across different boards. It's more efficient and organized to consolidate related discussions within a single thread.
hero member
Activity: 2926
Merit: 567
May 25, 2023, 03:38:15 PM
#26
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you
There's little to worry to you if you're the lender since you are the one giving the loan, you're opinion to get an escrow is good while building up your reputation just follow the lead of all the lenders only trust members here with good reputation and rank, when it comes to lending trust to those who will ask loans from you is very important.
Lending is one of the easiest ways to get a reputation here because there are transactions involved, Goodluck with your lending project, not everyone has a fund to lend to people.
hero member
Activity: 1400
Merit: 674
May 25, 2023, 01:24:24 PM
#25
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you
In the case of the lending business to give trust to other people, especially about money and in global forums where anonymity is very high, in terms of lending, you need collateral that can be calculated as valuable, otherwise you will find it very difficult to close scammers on your services. In the case of lending you also have to take into account the benefits you take and consider whether people want to borrow from you at the percentage of interest you take from the loan service, as a businessman you have to consider your own security, then you consider your customers to be interested, reputation must be built, at least you have a good reputation from forum members or DT.
I think if you take it seriously, and carry out your activities on the forum properly your reputation will increase.
hero member
Activity: 1498
Merit: 802
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May 25, 2023, 07:15:45 AM
#24
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?
Basically there are no limits for anyone who intends to provide loans to forum users, but if you don't have a good reputation on the forum it will be very difficult to offer loans to other people. This doesn't mean that forums with lower ratings will be discriminated against, but what can convince people to trust your services. Personally when looking at your profile, most are active in gambling and this reminds me of the tendency of people who like to gamble, even in real life people who are addicted to gambling are very difficult to believe, both giving loans and borrowing.

While no one can judge someone just for having 27 posts referring to your account because it will give birth to various assumptions about this. So my advice is if your intention is to plan to provide loans to other people, at least you should try to reach a much better account reputation stage than now, this will help you a little to reach the stage you want to do and here may direct you to lending service
jr. member
Activity: 84
Merit: 4
May 25, 2023, 02:45:40 AM
#23
I believe that, as you suggested, I could start offering small loans to users with good credibility so as not to force them to trust me by entrusting me with collateral.
If, on the other hand, larger loans are requested of me, I will consider an escrow that guarantees both parties.


Before leaving I think I will still read that sub-forum very well to have more knowledge.


Thanks everyone for the suggestions. I read everything with interest.
sr. member
Activity: 2828
Merit: 344
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May 25, 2023, 01:47:02 AM
#22
You can be and be a good lender but the problem is for your how to gain trust from lenders as well knowing the status of your account.
Perhaps, you can try and see what will happen but also be sure that you know how to assess someone who asks you to lend because even high-rank members can't be trusted as well.

In this forum, trust is very important but that seems hard to acquire since we never know these people personally.
Think that this kind of business is too risky which is why only a few members offered this service even though they have been here for many years.
sr. member
Activity: 602
Merit: 442
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May 25, 2023, 12:33:59 AM
#21
There is no account limit for anyone who wants to start a lending service. All you have to do is start up your lending services under the service section. You also don't have to worry about collateral scams because you will have to make your own rules; that's normal.
And if you want to add a picture to your announcement, you just have to purchase a Copper member account, which will enable you to do that since you are still a newbie member.
Exactly  mate and I don't think there actually any specific restrictions to running  a lending service over here and hope you know of the risk involved in lending right?
Well I would also advise that you try seeking the mentorship of other users Shasan to help guide you on how to go about the entire processes as well as guiding  you on making a nice and favourable rules to avoid you making unnecessary losses in the business

Cheers.
Goodluck to you.

~OBARI
hero member
Activity: 3024
Merit: 680
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May 24, 2023, 01:51:56 PM
#20
I don't know if this lender service works well in this forum but judging from the comment on here I think it works
It does works and those lenders that have been in the business and have their own threads on the lending section have been there not just for several months but even for years.

but there is a problem, you are using a brand new account, this could make some people not want to deal with you even though you are the lender.
IMHO, that's not a problem on his end. If his rank is still newbie it's up to him if he'll grant those loans to random people but I'd be picky to begin with this service. It's more of a trust issue while his customers will certainly trust him because he goes "first" as the lender, first in sending the funds to the borrowers.

Its gonna be tough but if you want to make a name then try to lend first only to those credible users. Dont ask for collateral, they would definitely not cheated you if they are reputable enough. This is only if you choose your clients or users perfectly. There are plenty whose asking of the loan here on forum might give to people with trusted feedback with known record.
This I think is the shortcut for OP. If he wants to start with a lending service, this how should he start but with credible members first that he'll allow to borrow without a collateral. That's what we think but it wouldn't warrant him some guarantee and will still depend on how he looks at it.
sr. member
Activity: 812
Merit: 315
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May 24, 2023, 01:09:43 PM
#19
I don't know if this lender service works well in this forum but judging from the comment on here I think it works, but there is a problem, you are using a brand new account, this could make some people not want to deal with you even though you are the lender.

On this forum, I have seen people taking high rank accounts more seriously, your contribution and reputation have a lot to say about you, maybe they will want to do business with you or not.

I suggest spending some time on this forum first? Some comment said it's nothing wrong with being a newbie when you are the lender, but that's not completely true. I will like to do business with a high rank member om the forum than a newbie.
hero member
Activity: 966
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May 24, 2023, 12:26:09 PM
#18
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you
I suggest you read the pinned threads on lending board, there’s enough information there to help you get started. You could look at the threads of popular lenders like Darkstar, Shasan and observe their process and how each manage their business. There are a lot of shady characters that frequent the lending section, you will have to learn how to use the trust system, how to identify accounts that are high risk (these are accounts with a negative tag, hacked/sold accounts that just woke up), I suggest you should only give loans to reputable members for now until you’re more familiar with the forum.
I believe this advice from Tomatocage will help you come to a decision.
0. Newbies, NEVER DO BUSINESS WITH OTHER NEWBIES, EVER. There are plenty of veteran members to do business with and ALWAYS use escrow. If you're a newbie and you're doing business with another newbie, there's a 100% chance that you will get scammed (or you're a scammer yourself).
legendary
Activity: 2268
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May 24, 2023, 12:13:15 PM
#17
Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?
Its gonna be tough but if you want to make a name then try to lend first only to those credible users. Dont ask for collateral, they would definitely not cheated you if they are reputable enough. This is only if you choose your clients or users perfectly. There are plenty whose asking of the loan here on forum might give to people with trusted feedback with known record.
sr. member
Activity: 2324
Merit: 263
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May 24, 2023, 11:29:38 AM
#16
Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?

Maybe the first step that must be done, you should make a productive and proactive contribution in forum discussions for the smooth running of your goals and further actions, and actually there is no limit to starting a service like you programmed, but remembering you are a beginner in the forum it would be nice for people -people meet you to gain trust, and also with their views later.
legendary
Activity: 1974
Merit: 2124
May 24, 2023, 10:49:17 AM
#15
Since you are new here, you need to know how things are done in the forum in terms of lending service. You need to learn from those that are already in the lending service so that you can do things normal and know how to go about on your lending service. I will advice you to learn the purpose of creating the forum. Bitcoin knowledge so that you will be able to rank up and have a good reputation in the forum, with this I believe your service will be recognized and patronized better than just being a newbie.
See the thing is his lending services will be used when he had reputation and trust rating on the forum and that will come with proper dealings.His account is also newbie so it's hard for him not impossible as others have also started at one point but if we say he has to learn all the bitcoin related knowledge then it's not necessary because his intentions are to deal in separate section although it could help in ranking up and having more exposure to the forum.
sr. member
Activity: 378
Merit: 258
Lohamor Family
May 24, 2023, 10:12:26 AM
#14
Since you are new here, you need to know how things are done in the forum in terms of lending service. You need to learn from those that are already in the lending service so that you can do things normal and know how to go about on your lending service. I will advice you to learn the purpose of creating the forum. Bitcoin knowledge so that you will be able to rank up and have a good reputation in the forum, with this I believe your service will be recognized and patronized better than just being a newbie.
hero member
Activity: 1666
Merit: 709
Playbet.io - Crypto Casino and Sportsbook
May 24, 2023, 09:27:00 AM
#13
The restrictions are mostly meant for those who want to take the loan
Here is a proper analysis of what you are required to have ad know to becoming a lender.
General good practices:
  • Lending used to only require some sort of "proof of reputation" (anything from a long post history, ID, or Web of Trust stats to a full credit report) from lendees. Due to an exceptionally high incidence of scamming, this is generally no longer the case. You generally MUST put up some form of collateral (usually some type of alternative cryptocurrency, like Litecoin or Quark). This depends heavily on the lender, and physical collateral may also be accepted (motorcycles, watches, PMs).
  • Please refrain from requesting unnecessary "confidence loans" (a loan you don't need, but want to take out simply to show you'll repay). This was an issue a year or so ago, where scammers would take out incrementally larger loans, pay maybe .1BTC in interest, then take off with a 1BTC loan. A history of so-called confidence loans inspire more hesitancy than confidence.
  • This subforum has an exceptionally high amount of trolling. Legitimate lendees are scared away or simply don't care to subject themselves to unjustified degradation. Skepticism is okay, but please try to be civil. Either way - if you request a loan, be prepared.
  • Almost all loans issued in this subforum would be at rates considered to be exploitative in most countries. We're talking about something like 5-15% monthly (there are some more favorable alternatives, such as seeking out the Islamic Bank of Bitcoin). Use short-term loans responsibly, do not use loans for naked market positions or otherwise attempt to arb, and you should only use short-term lending from strangers as an absolute last resort.
Also the lending business especially in the crypto-currency sector and also not collecting collateral can be a very risky business which you should also secure yourself, I think you should atleast learn more about the lending scams and this post can help you on that.
https://bitcointalk.org/index.php?,topic=119896.msg1291483#msg1291483

I have been on the forum for a while now and although there are many lenders people rather go with those who has good reputation for me my best option is Darkstar, well you can always try your luck in the business.
hero member
Activity: 2366
Merit: 793
Bitcoin = Financial freedom
May 24, 2023, 08:54:24 AM
#12
How about starting with non collateral loans for trusted members only? It will give you the start you needed and once you're here for a while then you will be recognised and also I wonder is there lenders accept collateral these days because in the past members used to accept the account as collateral but now it's not in practice so most of the lenders give non collateral for short term and that's mostly I can witness from lending section these days.
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
May 24, 2023, 08:48:30 AM
#11
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you

Any user on the forum can start a lending service; just start your thread on the lending board and make your rules for your lending services, but before you start a lending service, make sure you read and understand some of the rule or guidelines that apply to lenders in the forum. You can read them below.
 [EDU] How to spot a scammer (Read this before lending your coins!)
[EDU] The Rule of "No Collateral, No Loan" - IGNORE AT YOUR OWN RISK!
hero member
Activity: 574
Merit: 554
Leading Crypto Sports Betting & Casino Platform
May 24, 2023, 07:42:21 AM
#10
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you
The most important factor is your passion and availability of funds. Since you have both of them, you're good to go. Reputation and credibility are not built in one day. As people start dealing with you, your service will determine the feedback or the rating you get. If you are trustworthy your client will recommend you to other members. Visit the lending board and study their operations. There are also well-established lenders in the forum. Their wealth of experience can be an asset to you. You can identify and reach out for some business advice. They might be willing to give you some important tips or trade secrets of the business. Wishing you a prosperous business.
hero member
Activity: 1414
Merit: 542
May 24, 2023, 07:14:33 AM
#9
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you

I think it's the other way around, newbies or low rank accounts are frown upon when they try to lend in this community because obviously they haven't established any reputation here.

But if you want to be a lender then why not?

You want want to go to this board, Lending. Then read the rules and see how it goes for you.

Best of luck.
hero member
Activity: 644
Merit: 661
- Jay -
May 24, 2023, 06:50:18 AM
#8
As a lender you are dependent on the borrower to return the amount loaned and you bear the majority of the risk involved. The only point you can potentially scam as a lender is if you refuse to send the collateral back after the you are credited with the loan given. This can be solved by using a reputable escrow who would hold the collateral funds and return them to the debtor once they return the loan.

After months of no issues with an escrow-ed service you can gain the trust of forum members and not need the escrow anymore.

- Jay -
hero member
Activity: 3038
Merit: 634
May 24, 2023, 06:21:31 AM
#7
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you
This is easy, if you're still in a low rank and you want to lend then choose only those that wants to take a loan that has already a reputation in the forum and it's up to you if you'll offer them collateral free loans.

Usually with that, they'll trust you easily since you're the lender and you're the one that's giving that condition which will be liked by most. But then, if that's to no avail then you're free to ask an escrow[1] and help you out with this service.

[1] Recommended bitcointalk escrow services

sr. member
Activity: 1022
Merit: 363
May 24, 2023, 05:17:05 AM
#6
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you

Since you are newbie its good to have reputable escrow that can handle the collateral especially if the provided asset by the borrower is expensive asset. But you also need to consider the reputation of the borrower since there are also people who intent to default on their loan since some of them maybe want to quit in this forum and just want to get something to other forum member.

Much better if you go on lending section then see the threads of existing lender to see how they work with their lending services.
hero member
Activity: 714
Merit: 521
May 24, 2023, 04:28:05 AM
#5
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.

It's a nice and interesting moves made by you, but as you've said already, you lack the credibility and d you can't expe members to begin jump into you like that for loan without proper processing, i will advise you stay longer a while, build a reputation and earn yourself a particular standard or level in trust, through this, you might have also learn more to discover more about yourself and what you're planning to get into.

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?

That's why you need time to take while learning from those already into Lending service, a newbie cannot apply for such and so do i expect a newbie not to partake in establishing one until the have the full knowledge of what's involved in lending and how to relate user's data on a spreadsheet for proper processing and management using the excel sheet.
legendary
Activity: 2338
Merit: 1261
Heisenberg
May 24, 2023, 04:26:26 AM
#4
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you

Start out small. Reputation can not be built overnight. Even the current lenders u see today once had Newbie accounts

You have to get involved in the community, help other members. Over time, your reputation will grow as you interact with members. An Escrow holding collateral is the way to go right now though it will affect your interest fee as you have to cover the escrow fee as well

You will also get trusted community members who will seek no collateral loans. If the member is genuine and trustworthy, this will be a good deal for you as they will pay full amounts in time
legendary
Activity: 3472
Merit: 3507
Crypto Swap Exchange
May 24, 2023, 03:03:06 AM
#3
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.

You need to be proactive in different discussions through this forum if you want to earn some credibility. Other forum members must meet you, to see some of your views in certain situations, problems etc... As in offline life, based on your behaviour and reactions, you gain a reputation, so it is here.

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?

Of course, you can, that is the most desirable scenario, to use escrow for collateral. You just need to be sure and know how to define all the conditions.

I see that you are somewhat more active in gambling, I have to say that I think that it is not the smartest thing to deal with lending, to keep someone's funds, and at the same time have a tendency to gamble. It seems that things can go wrong very easily.
hero member
Activity: 700
Merit: 673
May 24, 2023, 02:45:01 AM
#2
There is no account limit for anyone who wants to start a lending service. All you have to do is start up your lending services under the service section. You also don't have to worry about collateral scams because you will have to make your own rules; that's normal.
And if you want to add a picture to your announcement, you just have to purchase a Copper member account, which will enable you to do that since you are still a newbie member.
jr. member
Activity: 84
Merit: 4
May 24, 2023, 02:39:59 AM
#1
I would like to become a lender like others on this forum, but as you can see from my account, I don't have the necessary credibility to operate like others.
I have the capital to lend, but it is normal that with such a low-level account, those wanting loans are worried about the collateral scam.
Are there any other ways to get started?

Do you think I can act as a lender by leaning on another user who escrow and who holds the collateral?


Any suggestion to start this business is very welcome.
Thank you
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