Earn Passive By Starting Money Lending Business
For those of you who want to get profits fairly easily, you can try the money lending business. Because investing in a lending business will make you get quite a lot of profit.
So instead of saving independently, you should invest your funds in a lending business so that the amount of your savings can continue to increase from the profits you get.
What is Money Lending Business?
So, the money lending business is a business that allows your funds to be borrowed by other people or companies that need loans. Later the borrowers of these funds will return the funds to you within a certain time by adding a fee in the form of interest when paying the bill.
It is from that interest that you will benefit from the money lending business. And this advantage can be said to be passive income because only by lending money will you get multiple benefits.
How to Start a Money Lending Business
For those of you who are interested in doing a money lending business, you can follow the following steps:
1. Preparation for starting a business
• Select Company Name
The first thing, please specify the name of the company that you will use to build a money lending business.
• Create a Business Plan
Next, make a business plan for the money lending business that you want to run. The contents of the business plan include a business summary, company description, market analysis, product line, determine how to market and sell products, carry out financial planning in the next 5 years.
• Determine Funding Sources
At this stage you need to determine the funding source of the money that will be lent to customers.
• Create Borrower Criteria
In order for your business to run smoothly, make criteria for borrowers who want to borrow money from your company.
• Meet with Lawyers
The money lending business is a business that has a fairly high risk. You can recruit a lawyer to start your money lending business.
• Create Domains
One of the most effective marketing methods is to create a website for your company. Then we suggest you create a custom domain for your business.
2. Register Your Business
• Incorporated
At this stage, discuss the type of company that is most suitable for your business with a lawyer. Later, after determining the type of company that is suitable, collect these files to apply for company establishment.
• Register Your Company License
To create a company, make sure you register your company license with the state secretariat so that your company can be recognized and legal in the eyes of the state.
• Register Company Name
Next, please register your company name with your state institution.
• Create a Tax Account
Create a tax account for your money lending company.
• Recruit Employees
Next, please recruit employees who match your criteria.
3. Launching Business
• Building Rent
Please rent a building for your company’s office.
• Create a Bank Account
Create a bank account for your business.
• Create a Contract
Before giving loans to customers, make sure you make a loan contract signed by the customer.
• Advertisement
In order for your company to grow, make an advertisement for your money lending company.
Closing
This is the information about money lending that we can convey, I hope it is useful.
