Loaning money

[Bigritchie]

I am pretty much against loaning to friends and family too, but I must say I would not be where I am financially, if it were not for a family member loaning me $9,999 dollars to have extra cash in the bank to start my business, the person also cosigned on my loan, as banks were very unwilling to loan a 21 year old 100 grand.

Long story short, I wouldn't be about to retire at 30 without the persons generosity and love. They even let me pay my business loan off early, and then pay them back (they refused money till I was debt free).

That being said this was a situation with utter trust on both sides, and they knew I would do well. They knew I had been saving since a child to open my business.

 

[bssc]

I lent money to a friend twice, knowing that she was receiving divorce settlements to cover it. I told her after the second time that it was the last time I was going to do so and then said no when she came back a third time after blowing through her settlement.

Otherwise, no.

 

[d]

with some exceptions, i have lent money always assuming it would never be repaid, and that i would be reasonably comfortable with having made that "gift". as you might expect, i don't do this very often.

 

[thefed]

I am pretty much against loaning to friends and family too, but I must say I would not be where I am financially, if it were not for a family member loaning me $9,999 dollars to have extra cash in the bank to start my business, the person also cosigned on my loan, as banks were very unwilling to loan a 21 year old 100 grand.

Long story short, I wouldn't be about to retire at 30 without the persons generosity and love. They even let me pay my business loan off early, and then pay them back (they refused money till I was debt free).

That being said this was a situation with utter trust on both sides, and they knew I would do well. They knew I had been saving since a child to open my business.

what kind of business did you start, if i may ask

 

[Bigritchie]

Restaurant.

 

[Webzter]

Send your friend to prosper.com and offer to vet their finances and write an endorsement so they can get the money more easily.

 

[Peaceful_Warrior]

I have a group on Prosper.com and loan money on there.