Economy, asked by mahak56, 1 year ago

what are advantages and disadvantages of taking loan from money lender

Answers

Answered by Anonymous

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●@dvantages●

1. Hard Money Loans Are Approved And Funded Quickly

2. Hard Money Loans Have Few Requirements

3. Hard Money Loans Provide Funding For Projects That Cannot Be Financed Elsewhere

●Disadvantages●

1. Hard Money Loan Interest Rates Are Higher Than Bank Loans

2. Hard Money Loans Are For Short Term Use Only

3. Hard Money Loans Require A Down Payment Or Equity Of At Least 25-30%

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Answered by Vishal101100

here is your answer mate.....

Advantage to take loan from moneylender is that you don't need to give any identity, paper of property and other too many documents like rashan card and debit card etc as happens in banks to take loan,it is based on mutual understanding.

but disadvantage is that he can apply as much interest on the Loan and if not paid back can take over your resources from you...

hope it helps you...... mark as brainliest....

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