Would it be legal to get a loan and then use it as a lending money thing?

I cannot think of any other job I can do while inside the house and I thought that it was a good idea to get a loan and then use it as a lending money to others that will give me interest. But what bothers me is if it was legal to loan and then use it as sideline work while I am at home. Since I do not want to be sued, I want to know some details about it.

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    It was technically legal because you will be the one to handle the money that you have loaned which means that you can do whatever you want to do with the money that is loaned. Just make sure that no law will be violated, specifically the loan shark law which is asking for an interest that is greater than 15% of the other loans. If this law has been violated, all the charges will be refunded and it will just bring hassle.

    2020.03.24 15:44

    Please leave your knowledge and opinion!

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