I need a small Personal Loan


I Need A Small Personal Loan

It can be very difficult getting even a small personal loan if you have less than perfect credit or limited borrowing experience. Personal unsecured loans are considered risky to lenders.

Talk to your bank. If you cannot get approved for a loan by yourself, consider a co-applicant. Their credit score might carry you to an approval. But be careful; the co-applicant has the same responsibilities as the primary applicant - if you miss payments, it reflects negatively on both of you.

Do you have collateral you can offer? Getting a loan is a bit easier if you have something to offer as collateral. You can use CDs, savings accounts, or even your home. The easiest piece of collateral to use is your vehicle. The lender feels safer if they have something of value behind the promise, thus they are more likely to give you a loan.

I know you are working on your credit. The good news is, having a personal loan can improve your credit rating. If you are able to make the payments on time every month, creditors will see that you are able to handle credit in a proper manner.

Again, please see your local banker. He/she will be able to walk you through the loan process and answer any additional questions you have. And if you submit an application, they should have an answer within 24-48 hours. Best of luck!

Interesting facts

  • Re Bank of Credit and Commerce International SA (No 8) [1998] AC 214 is a UK insolvency law case, concerning the taking of a security interest over a company's assets and priority of creditors in a company winding up.
    BCCI made loans to a number of companies and had in its contract purported to take as security, in return for the loans, a...
  • Venture capital financing is a type of financing by venture capital: the type of private equity capital is provided as seed funding to early-stage, high-potential, growth companies and more often after the seed funding round as growth funding round (also referred as series A round) in the interest of generating a return through an eventual...

Additional information


Do I Need a Personal Guarantee for a Business Loan?
Do I Need a Personal Guarantee for a Business Loan?
Do You Really Need Personal Loans
Do You Really Need Personal Loans
I Need A Small Loan Of A Million Dollars
I Need A Small Loan Of A Million Dollars
Need Personal Loan in USA
Need Personal Loan in USA
Collateral Loans
Collateral Loans

Popular Q&A

avatar
I need a small personal loan of £800, where do I go? | Yahoo Answers

try some of the supermarkets that offer finance now such as Asda and Tesco, they seem to have some very competitive deals. Use a deal checker to see who has the best deals. Though the issues your bank had might be the same as these. If you're looking for a short term loan for that amount, why not see if you can get a credit card with a 0% deal and pay it back before you have to pay any interest?