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 ?
his business don’t depend on number of customer available
Clarify this with them. If the business does not depend on customers and selling a product/service to them, then it’s most likely a pyramid scheme/MLM. If he continues to be vague about what exactly the business is, that’s another red flag. A legit business shouldn’t be hard to explain, especially to people they want to ask for investment from.
