Hi All,
How viable is private money lending as a business venture in the DR?
My wife's mom owns a successful compra y venta business in La Romana and she routinely lends out small sums of money to locals for a staggering 5% interest every two weeks.
Apparantly, these loads are secured (i.e. she only lends to those who own houses, cars or gold). As such, I invested $US5000 and things are going as planned!
I am seriously thinking about injecting some more money into this business (up to $50,000).
Are there any pitfalls that I should be watching out for (i.e. crime, corrupt police etc.)?
Any insights would be greatly appreciated.
Regards,
ed...
How viable is private money lending as a business venture in the DR?
My wife's mom owns a successful compra y venta business in La Romana and she routinely lends out small sums of money to locals for a staggering 5% interest every two weeks.
Apparantly, these loads are secured (i.e. she only lends to those who own houses, cars or gold). As such, I invested $US5000 and things are going as planned!
I am seriously thinking about injecting some more money into this business (up to $50,000).
Are there any pitfalls that I should be watching out for (i.e. crime, corrupt police etc.)?
Any insights would be greatly appreciated.
Regards,
ed...