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6 Bumps

Loans

I need a loan why is it so hard to get only 300 dollors?

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snuggle01

Asked by snuggle01 at 12:37 PM on Feb. 9, 2011 in Money & Work

Level 4 (48 Credits)
Answers (9)
  • If all you need is $300, then why are you getting a loan? You can surely sell some things to get that much money. If they're not loaning you $300, then chances are they see you as a risk to even pay that much back.
    SherriPie

    Answer by SherriPie at 12:46 PM on Feb. 9, 2011

  • confused

    sherribeare

    Answer by sherribeare at 12:48 PM on Feb. 9, 2011

  • For $300 your best bet is a pay-day loan, if you can pay it back short term. Getting $300 from a finance company is a waste since you'll be paying back close to $600 after interest and fees.
    KennsWifey

    Answer by KennsWifey at 12:53 PM on Feb. 9, 2011

  • Ummm kennswifey have you even noticed the interest rates on a payday loan?
    Anonymous

    Answer by Anonymous at 12:59 PM on Feb. 9, 2011

  • Chances are you don't need a loan- you need 300 additional dollars.

    I agree with SherriPie, look for something to sell. Clean a home, mow a lawn, or shovel a sidewalk. Don't get trapped with the payday lenders.
    Erica_Smerica

    Answer by Erica_Smerica at 6:01 PM on Feb. 9, 2011

  • I don't think banks lend that little. It's probably because if people have trouble scraping together that much (especially by doing some odd jobs or selling things) then they may not be the most reliable for getting the money back.
    misses_nick

    Answer by misses_nick at 6:05 PM on Feb. 9, 2011

  • I must agree with the others, I understand that people are in the need of $ these days, but why not go to craigslist and see if they need any work done with cleaning houses or yard work. That may help
    B716

    Answer by B716 at 9:26 PM on Feb. 9, 2011

  • Maybe borrow the money from a family member?
    free1

    Answer by free1 at 10:28 PM on Feb. 9, 2011

  • @anon...yes I have, I manage a finance company...we don't do payday loans but we will charge the hell out of you for interest. Like I said, if you plan on paying it back short-term, you can usually get a $300 payday loan and pay back less than $400. At my company you would pay me back $600 or more. But, hey, what do I know--I only work in the business. LOL
    KennsWifey

    Answer by KennsWifey at 10:07 AM on Feb. 10, 2011

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