Has anyone here loaned small amounts of money online like they are doing on Reddit and charged a monthly 10-20%...

Has anyone here loaned small amounts of money online like they are doing on Reddit and charged a monthly 10-20% interest? I can make about 15% consistently through the stock market but I'd like to pull in more loaning money online using PayPal and getting paid thru PayPal. I thought about just posting random adds on Craigslist saying I have money to loan. Anybody ever tried to work as an online loanshark?

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reddit.com/r/borrow
twitter.com/SFWRedditImages

I can imaging it would be really difficult to collect

I too imagine that it would but I'm willing to risk a grand or two to try it. I'm trying to find people who have done it or people with good ideas on how to verify that they would pay the money back.

THIS IS A WORK SAFE BOARD

REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

Maybe I could get control of someone's email while they have my money and give it back when they pay. Use Facebook or email or their Instagram accounts as collateral.

Sorry forgot

You are right. But this is also not r9k....oh I'm sorry, I'm being handed an urgent memo. Apparently Veeky Forums is now made up of the entire r9k population. My apologies, carry on.

get outta here

I would love to pay off some high interest loans. What are your requirements?

You do realize the interest I'm talking about is around 120-240% per year right? I'm talking about loan a couple hundred dollars for a 30 day loan where I make 20 to 40 dollars off of it. I haven't quite got what I need setup but I might consider just taking an add out here on Veeky Forums offering micro loans.

I can do 15% over 5 months. Thats $300 profit

Link me to where they do this on reddit please

Use margins on your brokerage account, enjoy. A 30% gains. No need to ask Reddit for money

>user collapses the online p2p banking market with nothing more than a proxy, a number 2 pencil, and three feet of duct tape

reddit.com/r/borrow

R/borrow
Have to have 1000 karma to post tho

I get the 15% by using margin already. Interactive brokers is who I use and I buy mainly dividend aristocrats stocks and house hold names like coke and Kimberly Clark. I put a dollar up and borrow a dollar doubles my returns with little risk. Just make sure you have a cushion for the day to day price swings and hold and never sell

Sounds fucking retarded senpai

you should really reconsider your idea.

Are these loans going to be in any way secured? If not, it sounds like a great way of throwing your cash down the drain. By definition anybody who would consider a 200%+apr payday loan is a high risk. They WILL default unless you have a better collection process than the next best lender.

Thanks for the tits though, brightened my morning

>Has anyone here loaned small amounts of money online like they are doing on Reddit and charged a monthly 10-20% interest?
>10-20%
yeah you're not getting shit

me too, lend me your money op i will pay any interest on it.

>this thread with this pic has been up for 5 and a half hours

Really tells you something about the """""mods""""" on our board.

There are mods?

What? Aware me on this? Anybody?