$2,000 dollars for 2 weeks.
He would pay $500 dollars intrest.
Q: would you loan 2,000 for return of 2,500?
2007-08-29 10:17:29 · 10 answers · asked by Kathy J 3 in Business & Finance ➔ Personal Finance
I would never loan out money if I want to see it returned. I especially wouldn't loan out money to the person who pays MY paycheck - if he can't handle his money, that's his problem - he's not entitled to mine. This is a dangerous mixing of professional and personal lives.
2007-08-29 12:38:33 · answer #1 · answered by teresathegreat 7 · 0⤊ 0⤋
No way! You have no recourse on personal loans. That's great interest! But what if he doesn't pay you back?
You are risking $2000 to make $500. If he is offering collateral, then its a different story.
2007-08-29 11:05:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I wouldn't. If he can't come up with the $2000 he needs, where is he going to come up with $500 more? Besides, it's a conflict of interest with the boss/employee relationship. Not a good idea.
2007-08-29 10:25:51 · answer #3 · answered by First Lady 7 · 1⤊ 0⤋
No, loaning money to your boss doesn't sound good at all.
In fact, I'm surprised a supervisor would ask an employee for money.
Just say, "you don't pay me enough for me to have that kind of money".
2007-08-29 10:26:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Why is the person who pays you asking to borrow money? You may want to consider the deeper issue here, which is not whether you should loan, but whether your job is secure.
2007-08-29 10:31:10 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Tough! I would pass on the offer. By the way, how is he paying you?
The interest is good, but without knowing more, I would look at this as a red flag.
2007-08-29 13:08:26 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You could try CircleLending.com where people can loan to friends and family and "make it official". I haven't ever used it but I've heard a lot about it.
2007-08-29 10:26:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Nope. I have trouble trusting someone who cannot manage money well.
If you decide to do this, have the agreement written down on paper, signed, and notarized.
2007-08-29 10:22:20 · answer #8 · answered by G.V. 6 · 1⤊ 0⤋
No.
On no level is this ethical (on his part) or wise (on your part).
STAY CLEAR... There's only trouble down this road.
2007-08-29 12:05:24 · answer #9 · answered by Common Sense 7 · 1⤊ 0⤋
if it's your boss then not really, but i would get it down in writing.
2007-08-29 10:28:28 · answer #10 · answered by yuai l 1 · 0⤊ 0⤋