Why Banks Aren’t Giving Personal Loans And How to Get Yours Anyway

If you are one of the many taxpaying Americans who have tried to get a personal loan recently and been turned down you are not alone. So why are banks continuing to deny people personal loans when it could be a good source of income for them?
Dec. 9, 2011 - PRLog -- If you are one of the many taxpaying Americans who have tried to get a personal loan recently and been turned down you are not alone. So why are banks continuing to deny people personal loans when it would appear to be a good source of income for them? The harsh truth behind lending is that it is not a good source of income for banks and not good business practice. Banks make most of their money by inflicting penalties on account holders and by generating interest from money they lend. But if they can't get the money back that they are lending due to the state of the economy they have good reason not to lend it out.

Credit Is Still Bad
Although the news about the economy lacking stability isn't as prevalent as it was in years past, it is still risky business to loan to people with less than excellent credit. Banks still claim to be giving loans but the reality is that many consumers are not seeing them. In reality credit is still bad and before it gets better and stabilizes the banks will not be as generous with their money as they once were.

The Recovery of the Economy Is Uncertain
Banks don't like to lend based on a handshake and a smile. They provide personal loans based on data that shows that they are likely to make their money back and then some. Because so many economists are still in disaccord regarding the state of the economy and when it is going to recover the banks are taking this as an indication of uncertainty. Banks don't do well with uncertainty, hence the withdrawal from personal loans.

Unemployment Rates Are Still High
According to the latest unemployment release by the Bureau of Labor Statistics unemployment is still about nine percent in the United States and as high as 13 percent in some states. As these numbers are still staggeringly high banks realize that the risk to lend is also at an all-time high and have reduced this risk by reducing the number of loans. Even borrowers with stable jobs are considered a risk as job loss is still very evident in many industries around the country.

Personal Loan Options
In all this, online cash loans can help individuals get personal loans quickly. Online emergency loan companies have relationships with lenders who are willing to give borrowers cash in amounts up to $1000 with no collateral and no background checks. Get started on your personal loan application today.

Loan Advances Online
Online cash advances are an industry leader when it comes to helping borrowers get loans that help them to pay their bills on time. A loan advance provided by an online loan is designed to be quick, often putting cash in the borrower's hands in a matter of hours, not days. A loan advance application is completely free and is done entirely online. You will know instantly if you are approved for your loan and a lender will work with you to provide you with a loan in amounts up to $1000.

Applying for a Loan Advance
Applying for a loan advance is easy with an online payday loan company and just requires a few minutes of your time. You don't have to waste hours finding lenders who are willing to work with you, online loans businesses do all the legwork for you based on the information that you provide. Simply fill in the required details regarding some basic personal and financial information and you will instantly know if you are approved for a loan advance. Neither the online emergency funds company nor their lenders require credit checks so if you have bad credit you don't have to worry about it affecting your chances of getting a loan.
Once you are approved you will be connected with lenders who are willing to lend you money in amounts from $100 to $1000. These lenders are able to provide you with some of the most competitive terms and interest rates in the industry and will work hard to get your business. You are under no obligation to accept the loans provided by the lenders should you feel that they don't meet your personal needs. The loan advance application is free so apply today!

Secure Loan Advances
Online short term cash loan companies and their lenders utilize secure server technology which means that your personal and private information will not be hacked by anyone at any time. They want clients to feel secure working with them and will go to great lengths to ensure that their privacy and peace of mind are maintained throughout the entire lending process. All of your information will be kept secure and will not be shared with anyone outside the lending agreement before, during and after your loan.

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Your emergency personal loan can easily be obtained online at http://www.valleytrust.com for an online payday cash advance.
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