Trying to get a $10,000 loan to start my business.
I do transportation and I also do carrier work. I need $10,000 to buy (not finance or lease) but $10,000 to buy a Used van to use for work. Using my car is putting too many miles on it... on top of driving to my night job. I need this van so that I can do this full time and make decent money. I applied for a loan in the past and was approved but then after I got my car and my personal loan now they’re denying me saying because my credit cards are maxed out. Which they are all paid off now! They also said that my loan to balance ratio was too high. And that’s where I’m confused because I have a personal loan for $500 with my credit union and at the time I still owed $390 was this the loan to balance ratio? But now I have 1 payment left on my personal loan which is $75.
OR was it my car loan?
I have been late since the day I got my car loan but it’s not to the point where I ever been 30 days late. Just 10-15 lates because I lost my job and been doing odd jobs to pay bills and I have to break my car note down. My monthly bills is $1980 per month, thank god I have a roommate. But I only met $1200 per month with my job and I have a side gig doing transportation and deliveries to pick up the slack. I’m gettin more contracts and want to do this full term and need another car.
However, my credit report shows that I’ve paid 4% of my loan and I’ve had it for 9 months. 14.7% interest rate pretty jacked up terms, $528 monthly for a 24,000 truck! And I now owe 22,000 because due to the lates not much is going towards the principal. Although my payment history reflect exceptional.
I had $3500 credit card debt, been doing door dash on Sundays aside from other side business and job and just paid $1000 towards my Walmart card leaving me with $634 in debt now. I lowered my credit cards debt down to 30% and lower.
I’m expecting a jump up to 740 at least.
Will upstart give me a $10,000 personal loan?
