Thursday, July 29, 2010

5K Personal Loan Advice - Secure a Loan with Cash?

My situation:





I need a 5K loan as soon as I can get it. I recently moved to the US (job transfer-accountant), have only had credit for 5 months (so my history is not established yet). I am already using the credit card with my Bank (bank of america).





I need an additional loan for 5K. My bank won't give it to me because of my lack of credit history. I don't have any assets (company rents my car and home for me).





However, I do have 2K i cash on hand. Does anyone know where I can get a 5K loan if I use the 2K as security? Is it even possible? Know any other alternatives?





I'm in GA.5K Personal Loan Advice - Secure a Loan with Cash?
The 2K is not enough security for 5K in loan. The security needs to be equal or greater than the loan.5K Personal Loan Advice - Secure a Loan with Cash?
People with poor credit feel that it is difficult to get personal loans. However, there are many financial companies and banks that provide loans to bad credit applicants. Bad credit personal loans are generally sought%26lt;!--by persons who want to consolidate their loans.Some banks prefer to provide loans in an incremental order. First time customers are given loans ranging from $200 to $500, depending on their net income. You can get more about personal loans here,





http://best-loans.awardspace.com/personalloans.htm





These customers can later apply for loans up to $1,500. Loans of greater amounts can be fetched through secured personal loans. These loans are passed by taking your property or home as collateral--%26gt;The interest rates on secured loans are lower than unsecured loans. However, there is always the risk of losing your house or property if the loan is not repaid.

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