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Short term loan

  • 20-08-2020 2:41pm
    #1
    Recliner
    Registered Users, Registered Users 2 Posts: 940 ✭✭✭


    If I wanted to take out a loan for €1000 until say January, but I couldn't go to the bank or CU, already have loans with them, who would be the best to try for.
    Not looking at the likes of Provident.
    Cliche I know, but asking for a friend.


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,619 ✭✭✭✭coylemj


    Even if your friend already has a (term?) loan with the bank, they could always ask for a six month €1,000 overdraft facility on their current account.


  • #3
    kenmm
    Closed Accounts Posts: 1,698 ✭✭✭kenmm


    Or an extension of existing loan (top-up for AIB)?

    Having credit with one provider won't necessarily stop you getting more with same provider unless you are at the limit of what they deem you can afford. If this is the case then another provider may need no different.


  • #4
    Recliner
    Registered Users, Registered Users 2 Posts: 940 ✭✭✭Recliner


    kenmm wrote: »
    Or an extension of existing loan (top-up for AIB)?

    Having credit with one provider won't necessarily stop you getting more with same provider unless you are at the limit of what they deem you can afford. If this is the case then another provider may need no different.

    I know they've tried the bank and CU and we're rejected for exactly the reason you said. They were hoping for something else they could do. I know they will definitely have the wherewithal to pay back the loan in January.
    I'm reluctant to loan the money myself, I've been burned before doing that.


  • #5
    kenmm
    Closed Accounts Posts: 1,698 ✭✭✭kenmm


    Recliner wrote: »
    I know they've tried the bank and CU and we're rejected for exactly the reason you said. They were hoping for something else they could do. I know they will definitely have the wherewithal to pay back the loan in January.
    I'm reluctant to loan the money myself, I've been burned before doing that.

    See , I'm not sure how it works these days, but isn't us bad for further credit if you gave a credit search on file that doesn't become a credit arrangement?

    ie of you've been knocked back already it affects how other companies score you?


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