Anyone can get into a situation where a large sum is urgently needed. It is good when there are savings available, otherwise you will have to borrow money. Today, there are a lot of opportunities for this: loans are issued by banks, microfinance organizations, and credit cooperatives. However, many borrowers prefer to deal with private lenders.
Loans from individuals are not new: many at least once in their lives borrowed several hundred rubles from friends, relatives, colleagues or neighbors. Unfortunately, it is not always possible to borrow a large amount from friends, especially if the money is needed for a long time. It is in such a situation that private lenders are ready to come to the rescue - citizens who provide loans for a certain fee.
Who Becomes a Private Lender?
Most of the individuals providing such services are former employees of credit or financial institutions with experience in granting loans. Among them there are also simply wealthy people who have temporarily free funds and who want to receive income from their placement.
Where to look for private lenders?
Advertisements for private loan services are easy to find on the Internet, in free classifieds newspapers, and simply posted on lampposts or fences in crowded places. By calling the phone number indicated in the announcement, you can find out basic information regarding the terms of borrowing, as well as get some information about a person who is ready to provide loans.
How to choose the right lender?
Needless to say, before entering into a loan agreement, you need to know as much as possible about the identity of the lender. Experts believe that you should not trust people who offer you to meet somewhere on a bench in a park or at a public transport stop, as there is a great risk of running into financial fraudsters. Reputable and self-respecting private lenders usually have an office where they do business, often they have their own website on the Internet, where they advertise financial services.
What should be written in the loan agreement?
First of all, it must indicate the basic characteristics of the loan, namely:
- amount;
- loan terms;
- interest rate;
- the procedure for issuing a loan;
- procedure for payment of interest and repayment of the principal debt;
- penalties for late payment of interest or non-repayment of the debt itself.
In addition, the contract must necessarily contain: the date and place of its preparation, surname, name, patronymic and passport data of both parties.
Can you protect yourself from scammers?
Of course, yes: for this you need to follow a number of simple rules:
- carefully re-read the contract and check if any suspicious or extremely unprofitable items have crept into it;
- certify the loan agreement with a notary or sign it in the presence of 2 independent witnesses;
- carefully check the authenticity of the money transferred to you;
- always draw up receipts when transferring money: receiving a loan, returning it and paying interest.
