Money Lending Company

How Much Does It Cost To Start A Money Lending Company? (In 2024)

Updated: January 18th, 2023

Looking to start a money lending company?

But curious about:

  • how much it costs to start a money lending company?
  • what are the typical money lending company startup costs?
  • or the actual cost of starting money lending companies?

Well, we have the data to prove it, supported by real money lending companies and how much they actually cost to start.

Let's go over it.

Learn more about starting a money lending company:

Where to start?

-> Pros and cons of a money lending company

Need inspiration?

-> Other money lending company success stories
-> Marketing ideas for a money lending company
-> Money lending company slogans
-> Money lending company names

Other resources

-> Profitability of a money lending company
-> Money lending company tips

Business Formation Fees

There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.

Cost Required? Min Cost Max Cost

Set up business: LLC & Corporations

Required

$50

$500

Small Business Insurance

Recommended

$500

$2,000

Permit and License Fees

Optional

$50

$700

Trademark

Optional

$0

$700

Lawyer Fees

Optional

$0

$1,500

A Patent ➜

Optional

$5,000

$15,000

Software Expenses

Your money lending company needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost Required? Min Cost Max Cost

File Hosting Service

Recommended

$0

$299

Project Management Software

Recommended

$0

$25

Internal Communication Tool

Recommended

$0

$20

Email marketing tool

Recommended

$0

$100

Accounting & Invoicing Software

Recommended

$0

$50

CRM Software ➜

Recommended

$12

$300

IT Support ➜

Optional

$150

$2,000

Social Media Management Tools

Optional

$0

$50

Payroll Software

Optional

$0

$200

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your money lending company grows.

Cost Required? Min Cost Max Cost
Rent ➜

Optional

$0

$5,750

Utility Costs For Office Space ➜

Optional

$0

$1,150

WiFi & Internet ➜

Optional

$0

$100

Employee & Freelancer Expenses

Cost Required? Min Cost Max Cost
Payroll Costs & Fees ➜

Optional

$150

$250

Employee Hiring Expenses

Optional

$1

$2

Employee Rewards ➜

Optional

$0

$100

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost Required? Min Cost Max Cost
Domain Name ➜

Required

$12

$200

Website Hosting Costs ➜

Required

$0

$300

Website Builder ➜

Recommended

$10

$500

Business Email Hosting Service ➜

Recommended

$1

$15

Website & Live Chat Tool

Recommended

$0

$200

Web Designer ➜

Optional

$200

$6,000

Advertising & Marketing Costs

Cost Required? Min Cost Max Cost
Business Cards ➜

Optional

$0

$50

Customer Research & Surveys

Optional

$0

$300

Networking Membership Fees

Optional

$0

$250

Business Signage ➜

Optional

$75

$2,486

Direct Campaigns, Printing and Mailing

Optional

$0

$300

Affiliate Marketing Commission & Fees

Optional

$0

$250

Influencer Marketing

Optional

$0

$750

Press

Optional

$0

$500

Google Ads

Optional

$0

$300

Facebook & Instagram Ads

Optional

$0

$350