how to start a money lending company.

Money lending business seems to be one of the booming business in developing countries both on small and large scale. although some of the businesses are not regulated and controlled by the financial authorities. Some countries have weak or ineffective regulatory framework.
Determining the best way to start a business can be a tricky endeavor, especially if you are new to entrepreneurship. Starting a money lending business is rife with various laws and regulations that need to be fully understood before you can officially open your doors for business. Proper planning will help ensure the success of your money lending business and avoid the possibility you will become another small business failure statistic. Everything from outlining a company vision to implementing infrastructure systems should be established to promote the health of your business.

Conceptualize your business. Take stock of other lending businesses and what you like and don't like about them. Make a list of pros and cons, and begin brainstorming things you would like to change relative to your competition. As part of your preparation, research possible avenues of credit extension or starting capital. This will likely be the biggest hurdle in the implementation of your business objectives unless you are self-funded. Find out how other lending company entrepreneurs in your area sought adequate capital.

Secure a line of credit from a financial institution. This should be discussed with your CPA and attorney as you want to ensure that you find the most attractive and manageable deal for your particular business needs. Negotiate an interest rate that will allow you to extend loans at a reasonable higher interest rate so you can begin making a profit immediately on your investment.