Applied for a bank loan?

Have you or your business tried to get a bank loan lately?

AJC reporter Paul Donsky writes about a couple turned down by eight banks before getting a loan to build an animal clinic.

Not too long ago, banks competed fiercely to make loans amid a roaring economy, Donsky writes. The recession forced many to rein in lending to protect dwindling capital levels, while also cutting loan demand from both businesses and consumers.

But lending hasn’t stopped, Donsky reports. Even in a horrid economy, and with banks being more selective, some businesses can get cash and some families can refinance mortgages or buy cars.

What’s been your experience?

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6 comments Add your comment

#1 Foxy Lady

April 21st, 2010
9:55 am

If you’re big corporations that is about to fail, the government will give you a loan.

You small-time losers can suck it!

Roswell Resident

April 21st, 2010
3:16 pm

A little under a year ago, I *finally* was able to get a loan to re-fi my house. Even with good credit, I still had a hard time. FHA touts how easy it is to re-fi but after 6 months of them dragging their feet, me and my loan officer put the hammer down and said if they wern’t serious abouut doing the deal, we would walk.

I had my loan 30 days later.

gerald

April 21st, 2010
5:14 pm

I may be able to help with commercial loans projects that bank do not fund.

Funding for Commercial Projects and Business!

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We represent a group of high net worth, private
investors (direct lenders), who can arrange 100% project
funding from $1MM USD & up.
Our investors are willing to review all viable and potentially
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are asked to cover legitimate due diligence expenses performed
by the source lender. (5% LTV US/Canada; slightly higher for international).

Isis

April 22nd, 2010
4:30 am

Banks are not following the HARP guidelines so it is difficult, if not impossible to refinance if you’re under water. I hope the government comes up with new bank regulations because they are still doing what they were doing before the great recession and that is whatever they want.

TnGelding

April 22nd, 2010
6:52 pm

We’re loaning money, not borrowing it, as are most of us. When are the pols going to figure that out? These 1% interest rates are killing us!

anne

May 4th, 2010
3:14 am

I am real encouraged with the mentation and don’t search like adding anything in it
———–
Anne
Law