He was my coworker. I know him at work for years. It is unlikely he take money and run away.

He ask me a loan to scale up his business, promised to pay 15% annually.

His work is in manufactures industry, maybe B2B. He said he his business don’t depend on number of customer available. I don’t know. I am a salary man. I know nothing about business and investment.

I haven’t ask him into the detail yet. I know nothing about this type of business. He seem confident, but I feel the 15% is so unlikely that will come with (hidden) risk. Maybe my friend is also a victim of another scam, or he just overconfident.

People of Lemmy, I ask you, those who are investor and business owner: is >= 15% annually ROI possible ?

  • Moobythegoldensock@lemm.ee
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    1 year ago

    That’s not how that works. For a business, if he can show the bank his business plan, they’ll loan him whatever they think he can afford to pay, and at a lot better rate than 15%. The fact that the bank isn’t suggests they think he’s full of shit.