I have bad credit but i%26#039;m able to pay back a loan at $200 a month I have 2 jobs.I%26#039;ve been working 7 yrs at 1 and 2 at the other I could have the money direct deposited in an account does anyone know of a place that might give a loan based on that info and not my credit rating.

answer from chinatrade114.com small business QA
Anywhere that deals with people who have bad credit are going to charge a lot of fees and interest.

Your best course of action is to get into a %26quot;Save before you buy%26quot; mode for the next few years. A $2000 loan at $200 per month would take you a year to pay back, including interest. However if you can hold off the purchase, you can save enough in 10 months and then pay cash.

The only way I know to get a loan at a reasonable rate is to have a good relationship with a bank (have been a customer for a while) and borrow money against some collateral like your car.

answer from chinatrade114.com small business QA
That you have bad credit is your answer; currently banks and lending institutions are less likely to loan money to people with less than good credit.

Work on getting your credit score (FICO) increased; it%26#039;ll make a world of difference.

Avoid going to these payday places; it%26#039;s usury interest that you%26#039;ll never get out from underneath.

Tags: business, Business Finance, small business

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