David Automotive

Archive for February, 2011

Approval for an unsecured loans are not dependent on credit scores. The only considerations these lenders use are proof of salary and length of time employed, proof of residency, proof of an active bank account in good standing, a social security number, and a bona fide ID. Loans range from $100 to $1500 with the usual being around $500.

These personal loans can cost anywhere from $15 to $35 per hundred borrowed depending on state regulations. They are not cheap. These charges are for interest rates and fees that are well above loans taken from conventional lenders. These high costs are imposed to cover the risk the lenders take in lending to bad credit borrowers. These personal loans or business loans can come due in 15 to 90 days.