By David Asker
Key considerations when lending money
We’ve looked at some of the key questions you should be asking if you are thinking of lending money. The first consideration you need to make is: can you afford to lend them the sum they need? And if so, when will you need the money repaid to you.
If you can afford it, the next crucial question is: can they afford to pay you back? Once you have answered yes to these two questions it will be worth sitting down to discuss the following:
- The amount you can lend
- A repayment schedule
- Any interest, the current BOE rate is 0.75