Hi fellow investors weve sold quite a few of our Sydney properties we are cashed up and were looking at doing something crazy and starting a small personal loan financing company(<$10,000) I understand there is a large risk. But we are really keen to put all of our effort, time and money into it. How crazy are we? We will obviously abide by the rules and regulations and get all the certificates/compliance requirements and have very strict servicing calculations and have a lawyer draw all our agreements up. Just wondering if anyone has dealt with starting one of these up or helped some do this whether it be an accountant, lawyer and adviser etc. Our other main concern was how do we source funds once the business funds became low if we do get sufficient business. I assume banks/lending institutions lend to each other at very discounted rates?
Thanks Sarah
Thanks Sarah