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Hey everyone. Is anyone offering private loans up to $10k? $0.00 I’m reliable and have steady employment, but I've been out of work due to the pandemic lately, which put me in a bit of a bind.
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I've never actually been under a lien myself, and I don't carry any credit cards. Maybe I should look into getting one now just to see if that opens any doors if there's no other way.
Not sure what else to say. I’ve talked to some loan brokers, and they all say the same thing: banks just aren't playing ball with small business owners right now. They don't seem to grasp the situation at all. It feels absurd that even a "small" amount of capital isn't being considered. Let's be clear—when you need funding, there is no such thing as a small amount. I even tried setting a one-year repayment term to make it more attractive, but still nothing.
Reading this and, well... sorry for jumping in, but I wanted to share my own experience. I've been at the same job for two and a half years now, permanent position. I have an overdraft limit of $8,000 and monthly installments of $2,500. I submitted a loan application and went down to the bank with all my paperwork. Before that, I spoke with a representative over the phone and laid everything out—all those debts I mentioned above. She told me there shouldn't be any issues getting the loan approved since I wasn't asking for a massive amount. A few days later, I walk into the branch with the documentation, and the banker asks where I work. I tell him I'm in the restaurant industry, and he shuts me down immediately. Says there's no way a loan is happening because hospitality is too risky right now, especially with COVID still hanging around. I've never had a loan before. I'm in a spot where I need the cash right now because of a situation I just can't resolve without it. I was asking for $2,200... honestly, I'm just disappointed in how the bank treats its clients. It makes me wonder about what this woman wrote. What are you supposed to do when there's simply no other way out? When you need the money immediately because something unpredictable happened, and after years of being a reliable customer, you turn to the bank and they just leave you hanging