Can I, as a minor, start a loaning business? Yes, I''m aware that this whole letter was written completely unprofessionally.

I am 16 and happen to have a large supply of money, I was wondering if it would be at all possible to use this money to start my own loaning business. The plan would just be to get a lawyer to write a legal document stating that ''said person'' would pay me back ''X'' amount of money before a certain date. The loans would be no less than $50, and there would be a 30 to 60 day time period to pay the loan back(not decided yet). I would take a deposit from each person asking for a loan, a minimum of 20 dollars. If ''said person'' refuses to pay back the loan and fees then I keep the deposit and take legal action to get my money back. I would also have a fee for using my services, maybe 10 dollars for every 50 dollars loaned and 5 dollars added for every 25. So if someone need a loan of $125, there would be a fee of $25. So in short, I want to know if this would be possible, after getting this document that every customer would be required to sign, to get this service available to other minors.