$1000 – $10000 Dollar Bad Credit Personal Loans in HI, FLA, LA, GU

Updated November 2017 – Before entering into a loan agreement for debt consolidation (whether you have bad credit or good credit) you should be aware of the usury laws in your State. Know the law and protect yourself.

Today is our last post on the generalities of bad credit personal financing throughout the United States. Today we are discussing a personal loan with a bad credit applicant being approved in Hawaii, with some mention of lenders in Hilo, and Pearl City.

After this, we move on to a personal loan applied for (and approved) in the State of Florida, with mentions of lenders working in the areas of Fort Lauderdale, Fort Myers, Jacksonville, St. Petersburg, Tampa, and Tallahassee. This Florida borrower was approved for a loan of $3500, and also has a poor credit rating with the FICO number of 560.

For the third loan we need to pick up Louisiana, with the borrower who was approved in New Orleans for a bad credit loan, who had options with different lenders in Lafayette, Baton Rouge, and Lake Charles. This borrower wanted a substantial personal loan of $7000 approved for a nine month term.

The fourth and final lender/borrower transaction that we will mention is not actually a State of the USA, but is a district (Congressional District actually). This is a borrower that lives and works in Guam and they wanted to borrow a $10,000 amount over a one year period with monthly payment frequencies/installments. This borrower had some lender choices in Hagatna, Dededo, Yona, Santa Rita, and Inarajan, which was surprising as we did not know we had that many lenders from the island of Guam who were even registered on the site. You learn something new everyday.

The tables of data for all of these loan applications have been tweaked one more time because we find, more and more, that for different States and Cities there are multiple lending examples that can be correlated and presented in these publications. For instance, we find that when we are discussing a $1000 loan for a particular city or area, that there are multiple other small consumer loans requested and approved (or denied) in the same area. Many times we have over a dozen loans approved in different districts, neighborhoods, and areas of the said city. Therefore we have endeavored to show the loan principal request range, and the chosen lending/borrowing transaction from the numerical range (if you look at the tables it makes more sense than I have described).

Note: After this post, in regards to personal loans for bad credit applicants in Florida, Hawaii, Guam, and Louisiana, we will be moving into single city lending publications, meaning that we will be discussing one specific United States City, and presenting four different loans from the city, including some of the larger neighborhoods and districts in the area. We look forward to templating these publications in an attractive way, with even more data for your review. Our first singular city of focus will be Miami, Florida.

Now, let’s get on with our four different loans, for four different applicants – all having sub-par credit ratings.

$1000-$1500-$2000-$2500-$3000 Bad Credit Personal Loan in Hawaii

Our first application for a BCPL (bad credit personal loan) is in Honolulu, HI, and the borrower we are focusing on applied for a loan ranging between $2000 and $3000, but was ultimately approved for a loan of $2500 in the end. We had bad credit loan applications from everyday consumers from Honolulu, Hilo, and Pearl city, ranging in principal amounts of $1000, $1500, $2000, $2500, and $3000. Two of these loan applications were denied, while three of them were approved as per the borrower’s credit rating and employment status.

The borrower who was chosen for this publication asked for an APR below 8%, but in the actual lending agreement that was signed and approved by the lender, the interest rate ended up being 9%. The total amount paid back to the lender on the note was $2537, and the total interest paid to the lender came out to $37 (and change). The monthly payments (made by PayPal subscription installments) came to $834.24, with a closing payment fee of $34.77.

Do not get confused with the difference between closing payments and closing fees in our publications, because we are talking about the final interest payment made, and not an extra fee. This is the agreed-upon interest that is to be paid to the lender as per the agreement. Most private lenders do not charge closing fees.

As we may have, or may not have, mentioned already, this borrower requested a three month term in which to pay back the $2500 they owed the lender. Payments were made on a monthly basis and in this case the borrower made all of their payments on time (97% of applicants don’t default).

We should mention that the FICO score of this borrower –  540 at the time of this application, and as per the norm here at FUSA, we will mention the borrower’s bank and branch of choice. This borrower does her banking with the Hawaiian National Bank, and the branch is located on North King St., Honolulu.

She was denied extra credit, or any kind of a personal loan, from the Hawaiian National Bank, and before she decided to use our site she did apply at the Honolulu Federal Credit Union because she figured that she would get a better deal with them because they were a credit union. Many people have the misconception in their minds that credit unions will always give a better deal and be more tolerant of people who have poor credit ratings, but in actuality, there is a set number of data lines that have to be met by all banking establishments doing business in the United States, and banks all use the same major credit scoring companies (Equifax, TransUnion, and Experian) to help them make a decision about a borrower’s risk quotient.

This applicant also tried getting approved at the same bank his mother keeps her accounts with. She does all her banking at the Bank of Hawaii which is located in the Pearl City Shopping Center at the corner of the Kamehameha Highway, and Lehua Avenue. Once again, he was denied credit because of his poor credit score, and they suggested that he go back to his bank in Honolulu and try to get approved there. Of course, we know that he did not, as we mentioned above, and he chose to use our website to put in a personal loan application.

He was upfront about his credit score being very low, and only lenders who provide loans to people with bad credit responded to his request. He was approved in three days after making his application known, and he had a choice of three different lenders – one in Honolulu, one in Hilo, and one in Pearl city. He decided to choose the lender who offered him the lowest interest rate at 9%. This lender does business based out of Honolulu. The lender located in Hilo was offering a 13% interest rate, while the lender in Pearl City was offering an interest rate of 14%. It was a no-brainer for the borrower to make his decision on who to borrow the money from.

$3500-$4000-$4500-$5000-$5500 Bad Credit Personal Loan in Florida

Our second loan today is in Florida, with the borrower living and working in Miami. She also has a very poor credit rating and when we checked her FICO score it was a miserable 560, so we can see why she was turned down at her branch.

This borrower’s bank of choice is the Miami Firefighters Federal Credit Union on NW. 7th St. and NW. 11th Ave. She tried to get an extension of her overdraft and was unsuccessful, and she also tried to get a credit card limit increase as well – this also failed.

In frustration she tried to get approved with the SunTrust Bank down on 1st Street, and the Regions Bank (the one across the street from the Walgreens Store) – all of her efforts failed because of her poor credit rating and sketchy employment history.

This applicant was recently hired as a dance instructor for children in the downtown Miami area, and she doesn’t make a lot of money – little enough that many lenders have trouble considering her risk factor because of her personal DTI numbers. Her debt to income ratio is at a very high .67 index, which makes her “an undesirable” in the eyes of all conventional banking establishments. She was at her wits end seeing that she was wasting her time trying to get approved for a loan and experiencing the embarrassing feeling of being declined by loan officers all throughout Miami.

She finally decided that she would go online and try to find some private lenders in the area who give out bad credit loans to people just like her.

She was approached by about six different reputable (and legal lenders) in Florida, so she had to choose interest rates and terms from all of these companies (and individuals). She had a lender in Fort Lauderdale, a lender in Fort Myers, a lender in Jacksonville, a lender in St. Pete, a lender in Tampa, and three lenders in Tallahassee (I had no idea until this application that there were three lenders in Tallahassee providing loans to people with bad credit).

In this case the borrower chose to do business with the lender in Jacksonville, because the interest rates from these other Florida lenders were much higher. The Jacksonville lender provided a loan of $3500 for a six-month term at 8% interest. This was much better than the extremely high interest rate the lender in Fort Lauderdale was offering at 16% over a three month term. This was the highest APR of all the lenders. The lender in Tampa Bay, came in a close second offering a $4000 loan with an interest rate of 9.5%.

$6000-$6500-$7000-$7500-$8000 Bad Credit Personal Loan in Louisiana

Our third loan request we are focusing on today came in from Louisiana from a young man who works as the captain of a boat. Trying to get information about this loan was difficult in that the lender is somewhat uptight about their privacy, and the privacy of their borrowers. This is no problem for us, because we are willing to alter some of the more private areas of the lending agreements submitted for publication – the most important part of the data sets are kept intact (APR, term, principal). Our editors take special care to make sure that none of the lenders or borrowers have their personal information presented in such a way that it gives them away (if that makes any sense).

The borrower in question here wanted to get a loan of $8000, but also mentioned they were willing to accept a personal loan as low as $6000 if need be. We have a good range of loans from the State of Louisiana that we could discuss, and in particular, we had loans approved for $6000, $6500, $7000, $7500, and $8000. All of these were approved, and none of the lenders felt they needed to decline the applicants. We screen our user pre-applications (to some degree) so that lenders don’t waste a lot of their time sifting through loan applications from people who have a hopeless credit situation at the time of application. For instance, if somebody is applying three days after they declared bankruptcy, there isn’t much chance of getting approved – at a time like that.

This borrower asked for a interest rate that was at least below 13% APR, and when the loan agreement was finished they were approved for a nine month term with monthly installments at an 11% rate. This came to $320.77 in interest paid to the lender, and a total of $7320 paid in total back to the lender. The closing payment came in just over $100.

This borrower had choices with private lenders in New Orleans, Lafayette, two in Baton Rouge, and one in Lake Charles. One of these lenders was removed from our database (and system) after they approached this borrower with a loan that included upfront fees to be paid before the money was transferred into their bank account. This is strictly against the terms of service of Financing-USA.com – the borrower did as we asked, and reported this lender to us immediately after being asked for upfront fees. We ask all borrowers to report lenders who ask for any kind of upfront fees, and to do so quickly.

You can see in the table below that this borrower had a FICO score of 580, which is much too low to get approval from any kind of conventional bank, and in this case her branch is the Hyperion Homestead Bank of New Orleans which is at Carondelet Street and Union Street. She did try some other banks, including the First Bank and Trust, and the Crescent Bank and Trust, over on Poydras Street, and Loyola Avenue respectively. She may as well have saved her time and energy applying for loans at these banks, because they strictly follow the normal conventional bank policies when considering application requests for cash and credit.

$8500-$9000-$10,000 Bad Credit Personal Loan in Guam

Our fourth and final loan application takes place on the island of Guam, with the borrower finally getting approved for a $10,000 loan regardless of his bad credit rating. This loan was taken out over a 12 month term and with a 12% interest rate.

The borrower initially asked for an interest rate that was below 10%, but none of the lenders involved were willing to offer an interest rate that low.

He had a choice of five lenders – one in Dededo, Santa Rita, Hagåtña, and Yigo. The lender in Dededo was offering the interest rate of 14.5%, with the lender in Santa Rita asking for an interest rate of 13.85%, the lender in Yigo asking for an interest rate of 17%, and the one in Hagåtña asking for a 12 point rate. He was never even close to getting the APR he really wanted because of his lower than optimal credit score  – 600 fico.

In the end this borrower had to pay back the lender $10,650 approximately, and the payment amount of $875 per month with the closing of term payment being $145.90. This bad credit loan provider used Skype as their method of communication, and used PayPal as their method of money transfer. The other loans we have on file from Guam in this loan range are $8500, $9000, and $9500.

Our faithful applicant does his personal banking at the Bank of Guam, not far from Marine Corps Drive and just South of Paseo Loop (if you are familiar with Guam at all). He also tried to get approved at the Bank Pacific which is at the corner of Hesler Place and Aspinall Avenue. The third bank he tried to get approved that was the First Commercial Bank which is on Hernan Cortez avenue. He was turned down flat by every one of these banks and his frustration was really beginning to grow. He had been trying to get approved for a loan for three weeks before he ever tried going online to find some alternatives for bad credit applicants like him.

This applicant was extremely relieved to get his loan for $10,000 because he had allot of Visa card debt from some traveling he had to do the last year and a half. And he had to travel over to Hawaii to look after a sick grandmother and he had to help one of his children who had some medical expenses due to some extreme pneumonia. He had to fly over to the States for some treatment which cost him dearly in cash, and he was trying to find a way to get some more hours at work to pay for the debts that had grown in the past months. He was very thankful to the lender in Guam who approved the loan, and he made all of his payments on time – a perfect customer.

So many of the bad credit applicants who want nothing more than a personal loan to help them through a tough financial time end up paying lenders back religiously because they never want to be put in a “bad credit position” again, whether that lender reports defaulted payments or not. Almost all lenders, whether they be private lenders or commercially based conventional banking institutions, do credit reporting on all of their customers.

It is always heartening to see people who have bad credit scores getting approved at reasonable interest rates, and not getting gouged by some of the predatory lenders that are operating around the world (and in the United States to be sure.)

We always try to remind all of the borrowers that use our site, that there is no guarantee they will get approved for a loan if their credit score is completely out of whack, or the pre-application information they provide in the loan form below is not accurate or conclusive.

We urge all borrowers to fill out the application with as much detail as possible, so that the different lenders who read their submissions have something substantial to go on, and are not left guessing about the DTI situations and the credit scores of those who are looking to get approved for a loan.