10 Ways to Let Your Money Work for You
4. Business Loans (Secured)
Making a loan to startup business can be a great investment. Even successful businesses may have considerable difficulty in getting the money they need to grow, or simply to fill gaps from time to time. Getting financing from banks can be time consuming and costly, and when credit is tight, individuals might not get the money they need anyway. This presents opportunities for those who have cash at the ready. You can provide the credit they need and offer terms with which you feel most comfortable. Be sure to do some investigation on the laws in your state, so that you do not run afoul of usury laws or other regulations. When you make the loans, make sure that they are secured by one or more assets that exceed the value of the loan. In doing so, you can effectively eliminate your risk.
