You don't really make sense and I would be skeptical to loan you at all. No offense but if someone can loan you $550 with no interest you can repay in 5 weeks, but if they want the whopping $50 in interest it'll take you 12 weeks?
Your logic seems a bit off.
No offense taken. Just to clarify my position, over the last 4–6 weeks I’ve noticed many loan requests getting approved at under 5% interest. Based on that trend and the amount involved, I offered 10% interest for this request.
In lending, interest is often tied to reputation and trust, which is why I chose to open a public topic rather than approach someone privately. For an interest-free loan, I would have requested around $300. Since I needed $550, the amount itself didn’t change, only the terms did.
That said, I fully understand if the request isn’t approved. There’s no hard feeling at all, and I respect everyone’s decision.
