The concept of lending and lenders:
As we have already discussed about landing that this is a transaction between two persons one give money to another person for fixed and temporary time period with the expectations of getting repaid Certain amount of interest rate is also assigned to that amount of money now if we talk about the landers they are not just a person lander could be any business who seeks for a startup money or need urgent loan fir emergency investing situations. Landing Company takes advantage of allocating higher rates of interest on that loan. The amount of interest rate varies from time to time higher the risk of not being repaid results in higher interest rates. Usually lending companies don’t lend money to small businesses, or they don’t approve the loan application of newly started business as there is a higher risk of not getting repaired in the unfortunate circumstances. And the one who give loan to the small businesses usually asks for forhigh-interest rate to be paid infuture. The main difference between a lender And owner is, lender is the one who is just investing money to your business or providing financial help to your business that has to be repaid in future. But they have nothing to do with ownership of your business, and they are not considered as a partner, they are only responsible for Fast Loan in difficult situations.
Why not to give loan to your known ones:
Money lending companies are way more reliable then borrowing loan form some friends and relatives. As you might have heard that money could be a reason to refuse misunderstandings. You might think to help your friend in his difficult timezones, but it could turn to be the biggest spoiler. The chance of getting return back is less, no fixed time duration. Or in case of loss give you will never get your money back. And if they are coming to you for landing purpose ask them whether they applied for loan by money lending company. If yesin so might there are some reason that these financial aid companies refuse to get them loan. As Licensed Money Lender do complete research before giving loan.
Technology as the tool of convenience:
It is more convenient , to get information about daily going transactions. If you have submitted your application of loan so you don’t have to go anywhere in order to check whether your application is approved or not. Now they nowadays use technological ways to inform you that includes: email, fax, call etc.
