Borrowing money in the form of credit or a loan is, after all, being part of a business, although as clients, why not go to the other side of the counter? So, if you are interested in knowing how to become a loan shark in Argentina?
How to be a loan shark in Argentina?
A job opportunity if they have money left over is to be a loan shark, which leads to earning money by lending money, for which there are certain conditions and requirements that we will see in the next article.
To work as a loan shark, they must meet the requirements and conditions imposed by the law of the country. So the first thing is to meet the requirements to be a loan shark in Argentina with all of the laws.
How to work as a loan shark in Argentina?
If you have money left over and instead of investing it in a fixed term, buy shares or dollars, or put it in a business or trade, an interesting option is to be a loan shark and if it goes well, become an entrepreneur in the field.
Are there risks of working as a loan shark?
Lending money also involves certain risks beyond managing money in quantity, the risk of lending money to people who need it and who may have debts and that means not paying them more as it is an independent job and not a company or loan shark .
What conditions exist to be loan sharks?
When it comes to being a loan shark, you have to see the laws that govern the activity of the country. Like the platforms that review the requirements requested in Argentina. Among the conditions to be taken into account:
- Pay the bills
- Work with own and stable funds
- Negotiate with trustworthy people/clients
- Do not accept clients with debts
- Comply with the requested documents
- Be registered where appropriate
- Be registered with AFIP if applicable
What functions does a loan shark fulfill?
The function of an informal loan shark is to offer credits with their own money to third parties, in exchange for the client to return the money plus interest on the money borrowed and in an agreed number of installations/months.
The loan shark can decide to lend money from their savings to other people who need it, being able to lend it to their family or friends, they can even set the interest rate to be charged, based on what the law establishes.
Is working as a legal money loan shark in Argentina?
Deciding to be a loan shark in Argentina is something legal for which they must comply with the law. It is not illegal since the type of loan between individuals is within the law. There are certain concepts to work as a loan shark legally:
Requirements to be loan sharks
- The money to be borrowed must be your own
- If you are a professional, you must comply with legal aspects, so it is advisable to consult with a lawyer
- The money to be used to lend it must be declared, in the Earnings DDJJ the loan shark must inform what the origin of the funds is
- The loan of the money cannot be free of charge, since AFIP may consider that they are trying to avoid paying taxes.
- The amount of the loan granted, the terms, and the interest to be charged have to appear in a document.
As you could read, being a loan shark in Argentina is easy, the hard part is raising enough money to become one.