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starting a shylock biz
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kangi
#1 Posted : Thursday, July 23, 2009 7:15:00 AM
Rank: Member

Joined: 7/23/2009
Posts: 526
Hi guys I just started a shylock biz this week and so far ave made around 10k with an initial capital of 80k. I want to do it in a manner that it is a bit formal and am seeking opinions of those who r already doin it esp in the city centre. All comments r welcome. Thanks guys. I've always liked ur contributions though some r of humor.

Godisnowhere
Accept no one's definition of your life; define your life.
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McReggae
#2 Posted : Thursday, July 23, 2009 7:38:00 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Kwani wat is your interest rate..........that return is too high for less than one week operations!!!!!


The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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kangi
#3 Posted : Thursday, July 23, 2009 7:45:00 AM
Rank: Member

Joined: 7/23/2009
Posts: 526
@ mcreggae am currently charging an interest of 20% the only thing is that am lending guys to cash clear their sacco loans. Immediately they clear my money is returned plus the interest regardless of the time taken. What am lookin 4 r the finer details on how I can get my money back in case some one is defaulting.

Godisnowhere
Accept no one's definition of your life; define your life.
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jaribu
#4 Posted : Thursday, July 23, 2009 8:06:00 AM
Rank: Member

Joined: 5/23/2007
Posts: 441
Is shylock biz legal?

bY aNy MeAns NecEsSaRy.....
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McReggae
#5 Posted : Thursday, July 23, 2009 8:09:00 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
im starting mine this weekend n thinking of charging 10% per week and taking security mainly electronics of value double da sum borrowed,also getting ma lawyer to draft some agreement forms!

The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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JDS
#6 Posted : Thursday, July 23, 2009 8:13:00 AM
Rank: Member

Joined: 6/17/2009
Posts: 42
Where are you located i sent you customers. There some guys disturbing me,they want some cash.
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kangi
#7 Posted : Thursday, July 23, 2009 8:27:00 AM
Rank: Member

Joined: 7/23/2009
Posts: 526
@ jaribu am not sure whether its legal coz of the fact that one can borrow and lend not only thro commercial banks but thro other means.What is needed is an acknowledgement of debt and a commitment to pay the same that can be enforced.

@jds am in the process of ensuring that I can get my money back thro an enforceable means n then I proceed to lend to other fellows. currently am dealing with my colleagues before I move to other clients.

Godisnowhere
Accept no one's definition of your life; define your life.
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Kwanini
#8 Posted : Thursday, July 23, 2009 9:21:00 AM
Rank: Member

Joined: 1/28/2009
Posts: 353
Location: Cloud
shylocking is illegal blah blah. What you need to do is ensure your back is well covered when s*** happens. MAke sure you have something to fall back to incase the inevitable happens. And why is it BANKERS incl. their managers of all people,should be falling over each other to get shylock loans? i thot you guyz yo ooze cash all tha time??


For i am the master and the captain of my fate !
"For i am the master and the captain of my fate"
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Layman
#9 Posted : Friday, July 24, 2009 11:15:00 AM
Rank: Member

Joined: 9/21/2006
Posts: 422
Location: Nairobi
Hi Kangi,Did you say somebody borrowed cash to clear sacco loan? That must be a very huge lie,may be the reverse could be true,borrow sacco loan to clear shylock loan!

The future is already here!
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Eddiemundu
#10 Posted : Friday, July 24, 2009 12:21:00 PM
Rank: Member

Joined: 4/23/2007
Posts: 67
@KINGI,

Just know that Shylock biz is one trade that only resembles that of Fkcing Praying Manties..It starts as a Drooling,mouth waterering adventure that shortly ends in tragedy and misbelive..

The clients who queu at yua doorstep wanting money are desperate and eager to get yua cash and duck for good..

it will fool yu that the biz is 'RIPE' but when pple bring stollen goods as collateral,yu will be known by all Cops around and yu will the King of the Underwolrd.Lush with cash but always walking while looking over yua sholder.

Its a Cursed Business...when yu sell someone's TV that they had bought with their hard earned cash coz they cant pay the exorbitant Interest,the curse is on you right away !

Ive been there and its like Hay Fire..It burns high but cant last for long b4 it goes out !






M'c Kende Siafu !
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