where can a person get personal loan?

Question

where can a person who is self employed, with no credit history and a cash paying job get a small loan to establish credit

Answer 1

I'd ask your mom.. She'll probably give it to you without doing a credit check

Answer 2

1

Answer 3

the best thing to do is take the cash that you are paid and open a bank account. Checking and savings would be best. Once you have establish an account, speak to someone at the bank and explain how you are paid and what you are trying to do. Banks tend to be very conservative and may not want to loan you anything. However, there are lenders out there who will work with you. Having a bank account will show that you are responsible and eager to build a good credit history. Once you get a loan, pay it back on time every month. That will start your credit history. Once it starts, take very good care of it. Your future could depend on it.
Oh, and please avoid credit card scams like first premier or insight credit cards. They will give you a credit line of around $300, but will charge you $275 in fees. Reputable lenders who issue VISA or Mastercards will not charge the high fees.

Answer 4

Your best bet would be to get a secured credit card from your local bank. Without credit history, it's going to be hard to get any other kind of loan. But since you have some cash, put it into a savings account and let the bank give you a secured credit card with that as collateral. This will help you establish a credit history quickly. And going thru your local bank is the safest way. You can't always trust Internet banking/credit sites.

Answer 5

You may be able to get a small secured loan with a co-signer, or collateral. Without either of those forms of security, you will likely not be able to get a loan. If you do choose a credit card, avoid Banc's (go instead with established banks). Either way, it takes time to establish a credit history. Be mindful that every account can affect your credit score (even utilities, so make sure you pay your bills on time). Also, if you do get a credit card, try not to go over half of the available balance (maxed credit is a red flag to future lenders), but do carry a small balance. Pay more than the minimum payment, and pay on time or early. Be mindful of how many accounts you have open, as too much available credit can also be a hindrance (potential lenders realize that debt is available to you, and you could run it up, jeopardizing your ability to repay any additional debts). Check with the credit bureaus(Experian, Equifax & Transunion) to monitor your credit (depending on your state, you may be entitled to a free annual credit report).

Good luck!

Answer 6

You should apply for a credit card first and establish some history. You could get a card from firstpremier bank. They are usually good helping establish people's credit. Then get with a credit union. Make sure you pay your credit card bill on time every month and try to send $5 or $10 dollars extra. Don't spend over half the limit.

Answer 7

If your self employed status is good with a decent steady income and records to back up your words then go try a local bank.
Don't you do any banking at all? If so there's your answer. They have a little experience with you already.
If you are a cash only all around person, bring a responsible co-signer, or forget it.

Answer 8

Personally I would do an online search. That seems to be the biggest resource at the moment. I too was self employed and earnt cash so what I had to do was prove my income and reliability.

Answer 9

I give out long term loan for three to twelve years maximum with your

interest in this you can as well tell me the amount you need so that I

send to you the terms and condition that is if you are realing interested

in getting a loan from me, I give 5,000,000 both in pounds and $US and

the minimum 1,000 pounds and US$ and SGD so if you are interested mail

for more info on how the loan can be transfered to you.Contact me at

[e-mail]