Start a lending business

[Obari]

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

[Kelvinid]

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.

[gordonics.com]

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.

[MarjorieZimmermanGinger]

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

[bangjoe]

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.

[aioc]

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.

[FatFork]

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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.

[Sandra_hakeem]

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 🧑‍🦰

[suzanne5223]

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.

[CYBER_COWBOY]

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.  

Good luck!

[gordonics.com]

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. 

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!!!

[DireWolfM14]

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.  

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.

[erep]

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.

[gordonics.com]

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!

[BitDane]

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.

[Saint-loup]

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.

[dansus021]

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

[Freddie Boyer]

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.

[bayu7adi]

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, ......

[GeorgeJohn]

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.