Loan company that will lend if you offer higher interest

dell1234_

Hi

I'm trying to take out a unsecured loan of upto 25k, ideally over 2.5- 3 yrs.
As I already have 30k of loans right now I imagine most companies would be unwilling to lend me more. However, the payment isn''t a problem so are there any companies that would be willing to lend if I were willing to pay upto 20% interest?

Thanks!

CLAPTON

broadly speaking their first priority is your ability to repay the debt

so assuming your income is say over 80k then you will have a reasonable chance of a loan

ps.. 20% is a failry modest APR these days

nomoneytoday

If payment isn't an issue why would you want additional high APR debt?

dell1234_

Thanks for the replies.

My income is about 40k after tax but this new loan would be paid by my business, I imagine the banks won't accept this though.

As I'm already "maxed out" (in thoery) I realise I would need to pay higher APR rates in order for the lender to take the risk in lending to me.. Or does it not work like that?

Fonz_2

Whilst a higher interest rate is obviously a nice earner for a lender, the primary concern is your ability to pay the loan back in their eyes. The interest rate is worthless if you go bankrupt for example.

I'd say that unfortunately you're very unlikely to find a lender willing to loan such a large amount of money to someone who is already spending 75% of their net income on debts already.

PNPSUKNET

why not lendit against the business?

Sailnet18666

dell1234_ wrote: »

Thanks for the replies.

My income is about 40k after tax but this new loan would be paid by my business, I imagine the banks won't accept this though..

As I'm already "maxed out" (in thoery) I realise I would need to pay higher APR rates in order for the lender to take the risk in lending to me.. Or does it not work like that?

Interest would not be big matter, if you really have to pay loan soon.

vaporate

Why would you want more debt?

iolanthe07

TBH unsecured loans of £25K, while in theory are available, are not offered much these days except to gold plated clients whom the banks are confident will repay.