Posted by : Timothy Brogan
A few years ago it was quite easy to get a 10 thousand Dollar loan. Lenders like FBD, CitiFinancial, Chase, and others would offer these unsecured loans, and many borrowers were approved even with bad credit. In October of 2008 the world wide financial system crashed and along with it many of these high risk loan programs like Ten Thousand Loans. Citifinancial stopped it’s online loan application program in November 2008.
Right now – Some lenders still offer personal loans to 10,000, but borrowers must have higher credit scores then before to be approved.
Currently 10,000 loans are very rare for borrowers with credit scores under 700. In the past borrowers with FICO scores are low as 530 could obtain unsecured loans for $10,000.
What we are hearing from our lenders at MoneyNowUSA.com is unless borrowers offer some sort of collateral – normally the highest loan approvals we are hearing about are for $5,000.00
If you have any questions about personal loans, please feel free to write in: Contact@MoneyNowUSA.com