I am looking for a small loan, less than 20,000, but b/c I am on disability I don't make enough money to get a loan, even though my credit is excellent.
Any suggestions out there?
2006-06-15 00:38:21 · 6 answers · asked by Mag:) 2 in Business & Finance ➔ Credit
It depends if you are able to pay it back.
2006-06-15 00:42:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Mag, it goes by your income for any loan. Let's take the disability part out of the equation for a second, example if someone making $12, 500 a year wants to take out a $50,000 loan, it will not be approved due to the income ratio versus the loan payment amount.
2006-06-15 02:02:14 · answer #2 · answered by DollyLama 5 · 0⤊ 0⤋
They will only give you a loan they know you can re-pay according to your income and if disability is a certain amount, the loan is calculated on that amount, sorry. That's the bank for you.
2006-06-15 00:41:50 · answer #3 · answered by tonyintoronto@rogers.com 4 · 0⤊ 0⤋
You can get a loan for specific purposes through certain government programs. Two such programs are the "Alternative Financing Program" and the "Access to Telework Fund". You will want to do a search for "alternative financing program" combined with your state name to find out who administers this program in your state and the requirements. You can find information on the "Access to Telework Fund" here http://www.resna.org/AFTAP/telework/index.html
Hope this helps
2006-06-16 10:36:38 · answer #4 · answered by jatade 2 · 1⤊ 0⤋
If its secured loan the u might find someone. try bankrate.com
looking at your situation, most likely u will pay high interest rate.
there are people out there with tons of $$$, i m sure wome will take this risk.
2006-06-15 00:45:40 · answer #5 · answered by Ted 4 · 0⤊ 0⤋
it don't matter where your money comes from , it's the amount you get that determines whether the bank will lend you money
2006-06-16 02:40:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋