Nightmare Loans

Years ago I needed to obtain a loan. OK, I thought this was going to be a breeze. I owned my home, my credit was pretty good and I was working. WRONG! It was a nightmare of red tape and paper work.

First the amount was for a home improvement that I wanted to make. A smaller amount not in the hundreds of thousands. I went to my regular local bank that I have been doing business with for years and years. The application process, which I was told was simply was more like an application for employment for the FBI. Should it really be this hard to get loans for a normal person?

All the paperwork that I had to bring in took me a while ot get a hold of. The real nightmare was that I own my own business and that is something that since it is a medium sized business, a large portion is on line is a job that is not secure for them. Oh, I ended up with the loan, but the terms were for a secured personal loan. Next time I if I need a loan I will comparison shop before I sign on the dotted line. I will not take a loan out with a bank just because I am in a comfort zone with them.

Checking around to see which bank or loan company that understands that a self employed person is able to re-pay personal loans just as easily as the person that works for a company. Business owners should not be looked upon with concern any more than other person.