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How much would you be willing to loan to someone who had no income verification and no assets to pledge? What would you charge?
by whatok 8y ago
How much would you be willing to loan to someone who had no income verification and no assets to pledge? What would you charge?
- minikites 8y agoI don't see how this is a useful question, I don't have millions of dollars at my disposal.
- whatok 8y agoHaving millions of dollars at your disposal has nothing to do with my question. These businesses exist because there's a demand for them that is being unmet by traditional banking. I don't disagree that it's an unsavory business and fully support anyone perpetuating fraud going to jail. That said, higher risks require higher returns or the alternative is the risk is simply not taken.
- tinus_hn 8y agoThe proper answer is to not loan money to people who can’t pay back. Instead of extorting them.