My business proposal focuses on establishing a personal/private money lending business. I will start by lending to my friends and others I know. I will understand how much money they need when they can repay it, and how much interest they can manage. By allowing them to decide on the terms and payments, I will give them the ability and full responsibility for paying back the loaned amount along with the interest.

There is a growing number of immigrants and an influx of newcomers, many of whom do not have enough funds or savings upon arriving here. Some even have loans in their home countries or have borrowed money from family, relatives, friends, or others, often at higher interest rates. The opportunities I see are the flexibility of the terms and how easy and quick borrowers can get loans. The threat I see is my limited loan capital and the payback period for each lender.

This business can be successful based on my experience, which is sufficient evidence. I have been doing this since around 2018 or 2019. Most of my borrowers have been regulars and repeat clients.