Money Lending Business License

Whether the applicant s premise is an apt place to run the business.

Money lending business license. Hence each state of the federation has its own money lending laws. A successful money lending business requires a. The financial services industry is indeed a broad industry. We found the following disciplines helped tremendously in growing a thriving private lending brokerage.

How to obtain a license certificate 2018 published on june 21 2018 june 21 2018 18 likes 4 comments. Money lending license is regulated by the state laws. The following documents are required to obtain the money lending license. Whether the person has the competency to run a money lending business.

This permission is granted by obtaining the necessary licenses for a money lending service especially when being a money lender is your primary business. Whether granting the permission would be against the public interest. Its not free of course but the price is negotiable. Money lending is a legal business which should be registered under licensed money lenders acts 1951.

Last year we originated 165 loans making our four year total surpass 450 privately funded loans. Money lending business the difference between private lending and hard money lending. Major lending institutions such as banks are great for standard loans. For every business to succeed you must have a business plan.

An aspiring entrepreneur who has little start up capital and a good grasp of how the financial business works can successfully start a micro money lending business. It was operated in small scales by moneylenders who are commonly known as chettys. Money lending business in uganda. There are tremendous opportunities today for private money loan brokers.

Form a application form. You need a moneylender s license. The money lending business in malaysia has been in existence since before independence. However when it comes to smaller amounts or alternative lending solutions banks usually cannot accommodate the needs of the prospective borrower like specific a money lending business.

Pls contact me at voltaireafrica06 gmail for a detailed money lending business plan. Money lending is a very lucrative business if well planned. Although banks render credit facility services to consumers this does not make them money lenders per se. Starting a micro money lending business a complete guide industry overview.

Your business plan will need to include the types of loans you want to make such as payday or mortgage and strategies for how to grow your business. When starting a money lending service you need to determine the types of loans you will be issuing.