You need your state license of the money lender. I read the act of Maharashtra and Rajasthan so if you are not from this state you need to search your state money lender act , This will be generally carbon copy mostly.
This license you need even if you do money lender business as proprietor, company etc.
You can not accept deposit from the public so it is you who is giving money to others at your own risk and consequence
If money lender license you don't possess doors of the court are closed for you for recovery.
Further details you need professional help . Looking at risk factor of business better you take professional consultancy from day 0 that is before starting a business