Explain why you think this is a good plan for lending money

If I were lending money to someone there are some key requirements that must be met before the loan would be made. If I were going to lend money the first thing I would want to know is how much money they're asking a loan for. If it was a large loan the credit score and credit check of an individual would be my first priority. If they have a poor credit score and want a large loan I could eliminate this person from the loan process immediately. By declining their loan request.

The second requirement would be does this individual have equity or collateral to back the loan in case of default. The loans I would want to partake in would be solely secured loans. These type of loans are a lot less risky and you can nearly guarantee that the loan and interest will be paid in full.

Another key element to the loan process I would create would be the decided interest rate and the due date of each installment loan. I would want to grant a fixed interest rate and periodic dates of each payment so I know the payments are being met. I would also want to know the persons primary income so I could know how fast they could pay off the loan.

The final requirement I would have for granting a loan would be is this person who they say they are. Insuring that all of the information they have submitted is factual is key. For if all the information met the requirements and they weren't that individual none of the requirements would matter.