Have you ever had someone approach you for a quick loan? Whether you are successful or not, you will receive a request to lend money from a friend or family member or relative. The problem with lending friends or relatives or a family member is that they take the loan as a grant and will most likely default on the loan. It is recommended that you always treat the loan as a business transaction. That will increase the likelihood that you will be paid. You are advised to first think hard whether you can afford to lend the money. The…