Quote:
Originally Posted by BettingMethodology
I`m looking for a loan for my existing projects. I`m UK based. I`ll go down the bank route if necessary but maybe an issue being what I need the funds for.
Any members offer a lending service here? Obviously would need to be carried out with all the necessary paperwork/IDs and so on. Please PM me or shoot me an email if you offer such a service.
Thanks for reading GFY peeps.  |
Don't do it. Borrowing money from anyone is expensive, and taking on a partner can be even more expensive. Try to think this through a little.
How much money do you need? If its just a few thousand and its for a short time, borrow it from your credit card.
If you think you will need it for a longer period of time, talk to your bank. The bank can offer you a lower interest rate than most credit card companies.
Even better than a loan, ask your bank for a line of credit instead. A line of credit only costs you interest when you borrow against it, and only for the amount you use. For example, if you take out a line of credit for $25,000 but use only $5000 of it, you pay interest only on that $5000.
Be careful - your bank may charge fees to transfer funds. If so, ask that they not do this. If they must, then make sure you pay it before they transfer funds otherwise those fees will add up.
If your bank won't play ball and you need lots of funds for a long period of time, call your credit card company and ask them for a credit increase (if you need it) and a "balance transfer". The credit card company will deposit cash into your checking account for you to use as you want and very often will do so at an interest rate far less than their usual rate. For example, MBNA MasterCard will do this at 4.9% during most of the year but every once in a while they have a "Sale" and offer the service at 1.99%.
If everything else fails, then consider borrowing from a friend or whatever, but do not go to any of those lending services you see on TV. They are ripoffs.
Good luck!