What to Do When You Lend Family Money But They Can't Pa…

[ad_1]


2 min read


Opinions expressed by Entrepreneur contributors are their own.

Like many people, Entrepreneur Network partner Jeff Rose once has convinced himself it was a good idea to loan money to a family member. In reality, the situation can get messy when this close personal connection cannot return the investment. This does not mean Rose has given up on peer-to-peer lending, which is a helpful tool that can streamline the loan process.

It can very time-consuming to secure a loan in-person — often you have to head over to your local bank or credit union, fill out a lot of paperwork, and then wait to see if it will give you a loan.

The benefit of loan tools like peer-to-peer lending can make you less beholden to the big banks, as well as be more accessible overall. Also, if you are on the lendor side of these tools, it can be a useful opportunity to become an investor in your peer’s venture.

Click the video to learn more about Rose’s experience with peer-to-peer lending and loaning money to family. 

Related: You Have $10,000 In Your Pocket. Now, Find Out How to Invest It.

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on RokuApple TV and the Entrepreneur App available on iOS and Android devices.

Click here to become a part of this growing video network.

[ad_2]
Source link

About Rev_Rod

Check Also

Financial Infidelity: Do You Keep Money Secrets from Your Sp…

[ad_1] Just as you wouldn’t want to find out your significant other had a secret …

Avoid Digging Yourself Into an Investment Hole With These Ti…

[ad_1] Stand by these fundamental investing rules when picking and choosing companies. June 15, 2018 …

6 Lessons From Cannabis CEOs Who Raised More Than $50 Millio…

[ad_1] How they found the money in a turbulent and unpredictable market. Opinions expressed by …

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Takipçi Paketleri

Instagram Takipçi paketleri

Instagram kullanıcıları, takipçi sayılarını artırabilmek için kendilerinin başkalarını takip etmelerine gerek yoktur. Firma takipçi paketi satın alan müşterilerine tüm hizmetlerinde 7/24 canlı destek hizmetleri veriyor ve dilediğiniz zaman instagram takipçi ve beğenilerini satın almanıza yardımcı olmaktadırlar. Saatler ce takipçi sahibi olmaya çalışmak yerine bu firmanın faydalarından yararlanın:)