1K-$10K Unsecured Bad Credit Signature Personal Loans in NYC (Bronx, Brooklyn, Queens, Manhattan) #credit #loan

#small personal loans

$1K-$10K Unsecured Bad Credit Signature Personal Loans in NYC (Bronx, Brooklyn, Queens, Manhattan)

Today we are in New York City and we are discussing four different unsecured loans which were applied for from four different boroughs, which includes a $1300 loan in Queens, a $4700 loan in the Bronx, a $7300 loan in Brooklyn, and a $9400 loan in Manhattan. All of these borrowers had bad credit ratings at the time of their applications and they all had FICO scores below 600. As you can surely imagine, we get a lot of applications coming through our websites from NYC. Actually, the vast majority of our loan applications online come from NYC, Houston Texas, Miami Florida, and the State of California.

The increment levels for the loans we collect in our database are all $500 (rounded up), but as you can see in these loan tables, these NYC applicants were finalized for unsecured loans that were not exactly in $500 increments. We thought we should publish the actual finalized amount of money they borrowed from the lenders in New York State.

I know there are plenty of people that go online looking for unsecured loans and have a hell of a time finding real, legitimate, and reputable lenders, who will lend money to people who have bad credit but rest assured, there are plenty of unsecured loans to be had in the state of New York, and in this specific case, four of the main boroughs of NYC.

The APR levels on these loans do range (as usual), and in the first loan from Queens the APR requested was 6%, with the finalized APR of 8.4%. The loan in the Bronx was requested below 8% APR and finalized at 9.2% APR. The loan in Brooklyn was requested below 4% APR, and finalized at 12.1% APR. The loan in Manhattan was applied for at 7% APR and finalized at 10% APR.

The reason I have listed off all of the interest rates in this introduction is because you need to see the differences between the requested interest rates by the borrowers and the final interest rates approved by the lenders. The reason the APR levels are usually much higher than requested is because these are by-and-large unsecured personal loans . meaning there isn t any collateral or security involved on the notes. You can safely say that we use the term notes loosely, because these are generally small consumer-based loans, and don t always have a conventional bank involved anywhere down the line of lending.

We have not published any information in, and from, NYC in the past, so it s also safe to say that we are long overdue in regards to such a major city arguably the most active lending ground in all of the United States, and once again arguably, in the world. Of course, commercial lending would be the highest amount of movement in the sector, and we focus only on smaller consumer-based lending in the United States.

So without any further delay we would like to get going on our first loan from one of the NYC boroughs. Please keep in mind that we have listed off all of the most common lending amounts that the lenders have approved in the boroughs listed in the tables below, and we have chosen a very typical lending amount, and loan purpose for each borrower/lender transaction.

$1000-$1500 Unsecured Personal Signature Loan in NYC (Queens) 

Our first loan application for an unsecured note is in the Queens borough of NYC, and the lender that approved the loan services the areas of Queens, Elmont, Flushing, Garden City, and Rego Park. He branches out to other areas of New York State, but focuses mostly within the boundaries of NYC. This lender s most recent loan applications and approvals were to people who have bad credit ratings and live in Hempstead, Oceanside, Bayside, Freeport, and Levittown.

Loan range on average for this lender is $1000-$3000, and they work on high volumes in order to maximize profits on a quarterly basis. This is why the interest rate was so reasonable at 8.4%. This borrower wanted to get an unsecured loan with an interest rate below 6%, and wasn t able to get anything lower than the 8.4%.

Her FICO score was 525 at the time of borrowing, and the reason for her bad credit rating is due to some credit card bills she had neglected to make payments on. She has a Discover Card that currently has $3500 owing on it, a Visa card with $1800 owing on it, and an Exxon card with $650 owing on it. She also has rental responsibilities for her apartment in Queens which she shares with two other roommates. She doesn t own a car (which is a good thing if you can get away with it), but the costs of everyday life in NYC are extremely high, as anybody who has lived in there can testify to.

This applicant has all of her bank accounts with the Dime Savings Bank at the corner of the Union Turnpike and Utopia Parkway right across the street from St. John s University where she went to school for three years. Currently, she has full-time work over in Flushing, but has only been working for that employer for eight months. This short amount of employment time makes it difficult to get approved for an unsecured loan as well, and she had to provide a letter of intent (LOI) from her employer there. We purposely did not disclosedthe applicant s employer, or what kind of business her employer runs in Flushing, NYC.

Since the Dime Savings Bank wouldn t approve her, she did try to get approved elsewhere in her borough of Queens but there was nothing really available as far as conventional bank offers go. She tried applying for a small personal loan at the Municipal Credit Union in Jamaica, NYC, and was declined there. She also tried getting approved at the State Savings and Loan Association in Flushing NYC and was declined there as well. After that she tried getting approved at a Electchester FCU in Flushing as well, but was unfortunately not approved there either. As with all of our applicants, she eventually gave up on getting an unsecured loan with a bank in NYC, and went on the Internet to find a solution to her financial problems.

She needed this money to pay for the very basics of life, which was some overdue rent and some groceries. She had some really bad luck in that her apartment was broken into and ransacked, and she lost her computer which he needed for work and for school, and she had to replace that. After replacing her computer, she didn t have enough money to pay the rent and buy food.

We are happy to say that she was approved for her $1300 loan, and the lender who approved the loan was paid back on time by this borrower.

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