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| − | In [[The Personal MBA|The Personal MBA]] a ''loan'' is an agreement to let a borrower use a certain amount of resources for a period of time in exchange for a series of payments over a predefined period of time, equal to the original loan plus an interest rate. It is one of the [[Twelve standard Forms of Value|Twelve standard Forms of Value]] (Form of Value #9 of 12). Loans allow people to benefit from immediate access to products or services that would otherwise be too expensive. Loan are interesting to the lender because they provide a way to profit from excess capital.
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| − | =Key Points:=
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| − | * A loan is an agreement to let a borrower use a certain amount of resources for a period of time in exchange for a series of payments over a predefined period of time, equal to the original loan plus an interest rate.
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| − | * The keys are:
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| − | ** Have money to lend.
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| − | ** Find people who want to borrow that money.
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| − | ** Set an interest rate that compensates you for the loan.
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| − | ** Estimate and protect in case the loan is not repaid.
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| − | * Loans allow people immediate access to products that they couldn’t purchase outright.
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| − | * Loans are beneficial to the lender by benefiting from excess capital.
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| − | * It’s critical to identify how risky each loan is, and take the appropriate steps to protect the loan going sour.
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| − | =Questions for Consideration:=
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| − | * Does delivering value via lending assets to others make sense for your business idea?
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| − | * If so, what do you need to plan for to make it successful?
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| − | Source: http://book.personalmba.com/loan/
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| | [[Category:mbi]] | | [[Category:mbi]] |
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