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IST : 11=24 AM, Kolkata, India
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Where to stop ...?
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Additional Details
i had bought the shares 15 years ago
resently i wanted to demat them to sell them off but the DP says it is not being traded & hance can not be ... |
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howaboutit99@sbcglob... | Why is it that banks don't loan small amounts of money? |
I am an real estate investor,i used too borrow $5000.00 or 10000.00 for put in a drive way oe new bathroom,can't anymore even my bank say no. |
 |
 
OPM
 |
You should check on a line of credit. It costs about 1-2% of these amounts to extend credit depending upon the terms. It is quite possible they were losing money on these because it costs them every time they write the paper. Banks have very thin margins. It takes a lot of money to just make a little. A 10,000 loan not paid down and paid in 365 days on average yields 100-150 dollars total. Every transaction costs money. Each cleared check costs money. Each contract costs money. It is quite possible it isn't worth their time. |
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sharmel
 |
Well, I sure don't know what bank you are using, but I assure you it is not at all unusual for a bank to loan $5,000 or $10,000, and even a lot less.. Matter of fact we are at this moment paying off a $10,000 one to our bank. We had the money, but it is invested at a much greater rate of interest than the bank was going to charge us to borrow it, so it was way cheaper to use the Bank's money than ours.
Only thing I can think is that perhaps the bank is not very happy about the collateral you are offering. |
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DAVE B.,The Old Man
 |
must be something wrong with your credit. |
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uman614
|
Hello,
I completely agree with wanting to invest your money. Afterall, what's the point of making money if you can't make more money with your money (got that?)? Anyway, I've tried all different investments from stocks and bonds to IRA's, 401k's, and real estate. I'm really a big fan of diversification.
However, the only investment I've really been happy with so far is real estate. Over the past 5 years, I've bought 3 different properties (all have tenants, and I'm making more than the mortgage payments on 2 properties).
The 3rd property I got was using Carleton Sheets no money down methodology (he's a GURU in real estate, and yes, his methods do work!). You can actually buy a property for absolutely nothing down (NO MONEY FROM YOUR OWN POCKET). I payed over $500 for his course 3 years ago, and I just saw it online for $9.95!!!! This is a steal at $9.95 (I'm actually going to buy it for my friends for Christmas). It was featured on TV, so I got the website from there.
Before you invest in anything, I highly suggest the Carleton sheets course. http://www.alllsite.info/real-estate.php |
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big bad momma
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it depends on the bank you use there are different banks for different people for example there are business banks and then there are banks that the every day person uses a savings bank it is hard to borrow money from a business bank,they used to making big investment for higher interest rates |
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waggy_33
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Banks only loan small amount to people who don't need a loan. |
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kazink
|
The risk of default is too high on small unsecured loans like that. If you're a bona fide real estate investor (someone who is constantly buying/improving/selling/or managing propety and is a corporation or LLC), I would get to know a commercial lending officer at my local bank. Build some rapport and apply for a commercial line of credit.
Of course, you could also just open up a home equity line of credit, or use one of your buildings as collateral. I would think the rates on loans like this would be better than an unsecured personal loan anyway. |
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kate
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HELOC loans are still available at the major banks, did you have a payment problem with your bank or maybe your debt load is too high now ? |
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Frank Castle
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Haven't you heard of $10,000.00 credit cards? |
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Lynn K
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They want loans that are very well secured, will make them the most amount of interest with the least amount of effort and cost on their end. By refusing you a $5,000 loan they hope you will put it on their bank credit card where you will pay a much higher rate of interest, thereby earning them far more money than they could legally charge you on a simple loan. Remember the banks are posting net profits of more than 6 billion dollars a quarter (that's every three months). They don't do that by being "nice guys". |
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cabjr1961
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Ask them about an open ended line of credit, some banks do that for people in your predicament |
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