What exactly is a financial institution looking for when they ask for personal references? Business associates?
2007-04-19 04:39:33 · 9 answers · asked by smooshian 2 in Business & Finance ➔ Credit
I should have clarified, it's for a business loan.
2007-04-19 06:04:42 · update #1
It usually depends on the type of loan. If it is a car loan, they usually only want the names of people you know, this can even be family.
However, if it is a business loan, it is considered appropriate to give business references, like those who you buy from etc.
2007-04-19 04:44:15 · answer #1 · answered by Jen 5 · 0⤊ 1⤋
Reference For Loan
2017-01-16 22:06:44 · answer #2 · answered by ? 4 · 0⤊ 0⤋
1
2016-09-28 16:43:20 · answer #3 · answered by Carolyn 3 · 0⤊ 0⤋
In the current personal loan market your best choice is KNOWYOURCREDITOPTIONS.COM the reason I say this is because things are always changing. After the 2008 financial meltdown. Underwriting rules have been changing and they continue to make small changes all the time. It really doesn't matter if you have perfect credit or bad credit there are options for just about any situation these days. With that said its going to be impossible to answer your question.
My recommendation is grab a quote from my previously mentioned place. You'll be able to see different kinds of programs and rates available for your personal financial profile . Not matter if its an emergency, vacation, or for private reasons; just about any situation is considered. No matter the credit or current job situation. Just let them know what you got and see whats possible from a top provider in the industry today
2016-03-10 06:15:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
In the current personal loan market your best choice is https://tr.im/perloan8180 the reason I say this is because things are always changing. After the 2008 financial meltdown. Underwriting rules have been changing and they continue to make small changes all the time. It really doesn't matter if you have perfect credit or bad credit there are options for just about any situation these days. With that said its going to be impossible to answer your question.
My recommendation is grab a quote from my previously mentioned place. You'll be able to see different kinds of programs and rates available for your personal financial profile. Not matter if its an emergency, vacation, or for private reasons; just about any situation is considered Personal references. No matter the credit or current job situation. Just let them know what you got and see whats possible from a top provider in the industry today.
2015-08-17 06:34:57 · answer #5 · answered by Leona 1 · 0⤊ 0⤋
A personal reference should be someone who knows you well enough to know your character. Someone who knows you well, perhaps all or most of your life. If possible, someone who, them-self, has some respected position in the community...a minister, teacher, business owner, etc.
If possible, it is nice to contact a person before listing them as a personal reference and get their permission to do so. This will demonstrate your consideration and make them feel better about giving you a favorable reference. If this is not possible, then let them know afterward that you have listed them as a reference, and "hope it doesn't inconvenience them".
Business associates are simply entities with whom you have done business. A bank, a store, a utility company, whomever. Preferably someone who might have extended credit to you. Someone with whom you have a good business record. If you are very young and are just now establishing your business relationships, then this could even be someone for whom you have baby sat, mowed lawn, done odd jobs, or other teenage means of earning money.
2007-04-19 05:07:36 · answer #6 · answered by Tom K 7 · 1⤊ 0⤋
Nope, they are looking for the names and addresses of the people in your life where you could potentially hide the asset after you quit paying them.
Especially for car loans, then they know where to send the repo man too.
2007-04-19 04:43:57 · answer #7 · answered by Gem 7 · 1⤊ 0⤋
i have been browsing the internet more than 2 hours today seeking the answer to the same question, and I haven't found any interesting discussion like this. It is pretty worth enough for me.
2016-08-24 00:06:29 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I don't really know how to answer this
2016-07-28 23:55:11 · answer #9 · answered by Anonymous · 0⤊ 0⤋
With most lenders they are looking for friends relatives or co-workers. Names addresses and phone numbers.
Most do not even call them unless there is a problem.
2007-04-19 04:45:20 · answer #10 · answered by ? 7 · 0⤊ 21⤋