Getting short term loans: Are there any lenders
Short term loans are a great help
Short term loans are a perfect way to pay your bills and for any other emergency situation provided they are approved easily. This way you will never fall behind. Martha, a teacher by profession very often finds it hard to meet expenses especially until payday. Recently she faced a medical emergency at home. Martha said, “I was in a fix and I had no clue what to do when my son fell ill a couple of months ago. The doctor said that my son needs to be hospitalized. I then borrowed a short term loan which enabled me to provide suitable treatment to my son.” Sam of Washington said, “I am thinking of borrowing a short te! rm loan to pay for my grocery bills which are pending since past three months. Complaining about rising prices and finding it difficult to meet both ends is common for Americans but ultimately, we have no escape but to pay for various utilities.”
What banks say about lending
Though some banks are lending money as requested by Obama administration, there are still some like Heritage Bank which is not lending money as it should. The bank's president Wilmoth said that the lending guidelines of his bank have not changed in the last five years and that the number of qualified borrowers has reduced. He also said that since demand for loans is low, his bank has to make money some way or the other. Tom Brown, head of New York hedge fund Second Curve Capital said that the remedy is same as it was in the early 90s i.e. making money on investment securities to make up for losses. Moody’s Investors Service has estimated that losses due to loan defaulters will reach $536 billion from 2008 through 2010. Till now only 40 percent of the losses have been calculated and a significant portion of it will be revealed soon! . … click here to read the rest of the article titled “Getting short term loans: Are there any lenders“
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