On Lending Money to Friends and Family

By Jayson Biadog

I can say that lending to family and friends is pretty much easy and fast. It does not have any requirements or financial documents to back it up. As a sign of goodwill, friendship and love. However, often it is abused. Why I know all these things? Because I experienced it on hand. Sometimes you will have a hard time in collecting the money to a family member or friends.

The worst thing to happen is that you do not talk to each other even bad mouth and blocked each other to social media. There is a lot way to avoid and minimize these. I have seen some successful businessperson said to a family member or friend. I do not want to lend you money instead; I am going to give it to you because I cared for you. Nevertheless, consider this as a contract that this would be your last or you will not do it anymore.

I am a fan of the Business TV series show called Shark Tank, in here they discuss the percentage of buying and selling the value of start-up company. Mostly I agree with Mark Cuban Deal often, and I … Read the rest