Private Lenders?

[ajcurran94]

Do any of you know where I can find a private lender? I need to borrow $3000 for 12 months. I won't go into detail, but to make a long story short: I live in a dead end town (Miramichi, NB) with no real job opportunities. I've been unemployed since June. I want out. I want to move to Moncton, NB for work. I've had calls for interviews left, right and center. I could have a job within 2 weeks of moving.

I'm prepared to pay back anywhere from $3400 to $4000.

I can do $200 monthly, and $250 every 3. It's a guaranteed $3400 paid back, but I'll have roughly $1000 to my name at the end of the year that doesn't have to be spend on anything. I'm willing to throw in an extra $600 in interest if need be.

The reason I'm not posting this in the New Brunswick specific section is that nobody's even looked in there since the 6th. I need this money yesterday, that's how much of a time crunch I'm on. And besides, I don't need a lender in my province. I'm willing to provide any and all information necessary to prove that I am who I say I am to get the loan.

Can anyone point me in the right direction?

[Future]

I don't know who would lend to you without a job sorry. Do you have anything you could sell or do side jobs like helping drive local seniors? Good luck!

[tjthemanto]

Only if you have a guarantee someone will generally lend it to you without a job.

Most payday loan guys like Money Mart will do it , but only if you have a job or if you pawn something

If you have credit cards you can get some cash advance on it , but the interest will start from day one ( around 20 % ) ..no grace period for that Like other purchase on your credit card.

All my CC let me borrow upto 25 % of my credit limit in Cash Advance from the bank or even the machine ..some transaction fees apply & the interest I talked about.

So if my CC has a limit of $ 10,000 .. I can take a cash advance of upto $ 2,500 ..but interest will start from the day I withdraw it

[ajcurran94]

Only if you have a guarantee someone will generally lend it to you without a job.

Most payday loan guys like Money Mart will do it , but only if you have a job or if you pawn something

If you have credit cards you can get some cash advance on it , but the interest will start from day one ( around 20 % ) ..no grace period for that Like other purchase on your credit card.

All my CC let me borrow upto 25 % of my credit limit in Cash Advance from the bank or even the machine ..some transaction fees apply & the interest I talked about.

So if my CC has a limit of $ 10,000 .. I can take a cash advance of upto $ 2,500 ..but interest will start from the day I withdraw it

I have no credit cards. I'm turning 20 later this year, I still have fresh credit. I can't get a loan anywhere without a co-signer, and both my parents have bad credit. They can't co-sign for me.

I have nothing left to put up as collateral. I've already sold my Xbox, my PC and my car.

I have a garbage bag full of clothes, and a bank balance of -$10.96.

Unless I get out of this dead end town I'm never gonna get ahead. There are no jobs here.

If I move I can be working full time inside of 2 weeks. I just can't afford to do it on my own. I'm getting $1300 in 2 to 3 weeks but that barely puts a dent in it. I'd still struggle to "keep my head above water", so to speak.

If I can find a loan for $3000 to go with my $1300 tax return I'll be covered 3 months in advance for everything. I could easily manage it that way, but if I can only cover my expenses for a month... It's not gonna work out the same way.

Especially when you take into account the fact that you usually have to wait 3 weeks instead of 2 for your first pay.

[tjthemanto]

I have no credit cards. I'm turning 20 later this year, I still have fresh credit. I can't get a loan anywhere without a co-signer, and both my parents have bad credit. They can't co-sign for me.

I have nothing left to put up as collateral. I've already sold my Xbox, my PC and my car.

I have a garbage bag full of clothes, and a bank balance of -$10.96.

Unless I get out of this dead end town I'm never gonna get ahead. There are no jobs here.

If I move I can be working full time inside of 2 weeks. I just can't afford to do it on my own. I'm getting $1300 in 2 to 3 weeks but that barely puts a dent in it. I'd still struggle to "keep my head above water", so to speak.

If I can find a loan for $3000 to go with my $1300 tax return I'll be covered 3 months in advance for everything. I could easily manage it that way, but if I can only cover my expenses for a month... It's not gonna work out the same way.

Especially when you take into account the fact that you usually have to wait 3 weeks instead of 2 for your first pay.

Are you living at home ?

You should be able to save a bit if you are on your current job if that's the case , if you are not living at home its tough

[ajcurran94]

I'm living at home, but I don't have a job. Hence the reason behind me wanting to move. There are no jobs here, especially for a high school dropout.

I get $350 a month. $200 goes to my dad for rent, $50 gets spent on deodorant and stuff for myself. The other $100 is usually owed to someone by the time I get my check on the 1st.

Saving isn't gonna happen any time soon.

I'm getting my $1300 tax return in 2 to 3 weeks though. That with a $3000 loan covers me for 3 full months of expenses (including loan payments) if I move and get this apartment that I want.

I need a year to pay it back, and I'll pay back $3400 to $4000.

$200 monthly, $250 every 3 months. It's a guaranteed $3400, but I'll have some extra cash on hand at the end of the year that I can tack on as interest to bring it up to $4000 if need be.

The hard part is finding someone who's willing to take the risk. Cause the fact of the matter is I'm a total stranger, and there really isn't a guarantee other than my word.

Unfortunately, words aren't worth much lol.

[ajcurran94]

I don't know who would lend to you without a job sorry. Do you have anything you could sell or do side jobs like helping drive local seniors? Good luck!

I had to sell my car... Can't do that anymore lol. A few months ago maybe, but it's not an option now.

[Future]

If your so desperate to get out I would move out to where you want to go and rent a room for a few hundred bucks. Also buy a bus ticket to get there or hitch a ride with a friend. Once you get there if you need to use the food bank do so. Pay the first month rent with your tax return and work your butt off, probably 2 jobs. By the next time rent is due you should have got a paycheque or 2. Then focus on paying down whatever debt and save.

Sorry i I don't have any more ideas, best of luck.

[Shwa Girl]

I don't know who would lend to you without a job sorry. Do you have anything you could sell or do side jobs like helping drive local seniors? Good luck!

Good idea.

OP, I see that you are new to Smart Canucks. Welcome. I am looking forward to reading your posts on this site. I wish you well in your job search.

[ajcurran94]

I was hoping I could get some opinions.

The place is called Centura Financial Services.

centurafinservices dot com (sorry, can't post links yet lol)

I've been approved for an $8000 personal loan. They're giving me a 5 year term, and a fixed interest rate of 8.5%. My monthly payments are $170. I'd pay back $10200 on the $8000 loan.

Where I have no established credit, they weren't able to get the loan through any of the major banks. So they've secured the funds from a private lender. The private lender has asked that I secure the loan by covering my first 5 payments up from. A total of $850.

I can afford it, no problem. I'm getting $1300 in the next few weeks.

I'm just skeptical about making the deposit, and then never getting the loan.

What do you guys think?

[ajcurran94]

Do you guys mind taking a look at my new thread for me? Called "Centura Financial Services". I need some opinions before I proceed.

[lizzie bargain]

I think future has given you excellent advice-also check with your local Canada government employment centre. There are interest free loans for apprenticeships etc. Also see if they will help you with a loan or grant to move to a new job or have any training programs for you. Good luck and try not to mire yourself in debt at only 20-live within your means by renting a room-perhaps you can help with yard work or child care or senior care for reduced rent. Some senior centres have programs where they match up seniors needing a little help around the house with young people looking for a place to live.

[tjthemanto]

I was hoping I could get some opinions.

The place is called Centura Financial Services.

centurafinservices dot com (sorry, can't post links yet lol)

I've been approved for an $8000 personal loan. They're giving me a 5 year term, and a fixed interest rate of 8.5%. My monthly payments are $170. I'd pay back $10200 on the $8000 loan.

Where I have no established credit, they weren't able to get the loan through any of the major banks. So they've secured the funds from a private lender. The private lender has asked that I secure the loan by covering my first 5 payments up from. A total of $850.

I can afford it, no problem. I'm getting $1300 in the next few weeks.

I'm just skeptical about making the deposit, and then never getting the loan.

What do you guys think?

That's sketchy & risky ! So first they want you to pay them upfront money , so they can give you a loan ! Red !

So basically you are giving them a loan for $ 850 first ..lol ..and as you mentioned , what if you never get the $ 8,000 loan from them

Why don't you tell them the $ 850 you want upfront from me for a $ 8,000 loan , cut that from the $ 8,000 and just give me just $ 7,150 i.e $ 850 less in the loan..see if they agree ..he he he

Same thing for them right

[ajcurran94]

That's sketchy & risky ! So first they want you to pay them upfront money , so they can give you a loan ! Red !

So basically you are giving them a loan for $ 850 first ..lol ..and as you mentioned , what if you never get the $ 8,000 loan from them

Why don't you tell them the $ 850 you want upfront from me for a $ 8,000 loan , cut that from the $ 8,000 and just give me just $ 7,150 i.e $ 850 less in the loan..see if they agree ..he he he

Same thing for them right

I've given up on ever finding a loan. I'm not even gonna try anymore, there's no point lol.

No more thinking things through, no more planning. What ever happens happens. I'll just react from now on.

[MissMamaT]

I PM'ed you. I also did some digging on Centura.
I found many reviews like this one.

"I applied for a loan and got approved for $8000. I was asked to send $850 to secure the loan, after I sent the money I never recieved my loan. They said its because I didn't purchase loan insurance so I just have to pay another $1700, I didn't send any more money, and I still haven't gotten my money back."

As another person here said, asking for money up front is a scam. Good luck my friend.