He was my coworker. I know him at work for years. It is unlikely he take money and run away.
He ask me a loan to scale up his business, promised to pay 15% annually.
His work is in manufactures industry, maybe B2B. He said he his business don’t depend on number of customer available. I don’t know. I am a salary man. I know nothing about business and investment.
I haven’t ask him into the detail yet. I know nothing about this type of business. He seem confident, but I feel the 15% is so unlikely that will come with (hidden) risk. Maybe my friend is also a victim of another scam, or he just overconfident.
People of Lemmy, I ask you, those who are investor and business owner: is >= 15% annually ROI possible ?
So he wants you to take a loan out using your property as collateral to invest in his business? And if he doesn’t get you the promised return, what do you think happens to your collateral when you can’t pay back your loan?