Manhattan NY
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New York State Lenders > Manhattan

This page was last updated November 2018

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Fair Credit Lenders in Manhattan NY

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NYU Federal Credit Union
726 Broadway #110, New York, NY 10003
www.nyufcu.com
212.995.3171

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Progressive Credit Union
131 West 33rd Street #7
New York, NY 10001
www.progressivecu.org
212.695.8900

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Self Reliance Federal Credit Union
108 2nd Ave, New York, NY 10003
www.selfrelianceny.org
212.473.7310

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The Finest Federal Credit Union
59 Maiden Ln, New York, NY 10038
thefinestfcu.org
646.661.1886

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Neighborhood Trust Federal Credit Union
1112 St Nicholas Ave, New York, NY 10033
www.neighborhoodtrustfcu.org
212.740.0900

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Santander Bank
841 Broadway, New York, NY 10003
locations.santanderbank.com
212.372.0033

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Wells Fargo Bank
731 Lexington Ave, New York, NY 10022
www.wellsfargo.com
917.322.6700

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TD Bank
125 Park Ave, New York, NY 10017
www.tdbank.com
212.697.0983

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Atlantic Bank
404 Park Ave S, New York, NY 10016
www.newyorkcommercialbank.com
212.447.9000

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First Republic Bank
442 6th Ave, New York, NY 10011
www.firstrepublic.com
212.253.8888

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Bad Credit Loan Form for Manhattan NY

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)

Learn about GAP (Gift Angel Program)

 

Manhattan NY Lender Service Area Map

Manhattan Bad Credit Lenders Map - Initial Static Image

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Manhattan 5x5 Loan App Volume

Top 5 Manhattan neighborhoods for loan application volume in the last 5 months. Source: WFL Lender Pool. Updated: Monthly.

  1. Douglastown/Little Neck
  2. Bensonhurst
  3. Flushing
  4. Bedford Park
  5. High Bridge

Statue of Liberty Manhattan NY: Licensing

Bad Credit Loan in Manhattan

Philippe’s credit rating nose dived after he missed a few payments on one of his loans. He lost his job and could not pay his monthly bills and felt he had no options at the time.

He has since obtained another job and is trying to get his credit rating back in shape. He needs $8000 to pay his credit cards and lower his interest charges.

Many people do not know what can cause their credit rating to nose dive. In Phillippe’s case it was his failure to meet payment obligations that triggered the initial decline.

But then he applied for several credit cards and was declined. Every time a consumer applies for a loan or credit card, a hard inquiry is made against your credit report. Many inquiries can also lower your credit rating and it can take up to 2 years for these inquiries to be removed.

Another little known detail is credit utilization. If all of your credit cards are max’d out to the limit your credit utilization is very high, 95 to 100%.

Lenders like to see a credit utilization number below 30% which is difficult to achieve if all of your credit cards carry a balance near the maximum approval limits. Acquiring a new credit card and not using it will improve the utilization level.

Philippe also closed one credit card account thinking that this would improve his rating by leaving him exposed to less debt. Closing the credit card account actually had the opposite impact by increasing his credit utilization number and lowering his credit rating.

He was eventually approved for a personal loan and his now using a credit counsellor to help him improve his credit rating.

A $8000 personal loan with a five-year term and 12% interest rate for Philippe cost him the following per month:

• Loan Amount (principal) = $8000
• Interest Rate = 12%
• Term Length = 3 year
• Monthly Payment = $265.71
• Total Paid Back = $9565.72
• Total Interest = $1565.72

Philippe has been working with his debt counsellor for the past few months and is well on the way to improving his credit rating. He was approved for the loan and paid the full balance on his credit cards. The loan improved his credit utilization number immediately and he is not using his credit cards to avoid more debt.

There was an error on his credit report which his counsellor pointed out and helped him remove. Although it will take another year and a half to get his credit report back in good shape, he is already making progress with the steps he has taken so far.

As mentioned hard inquiries can remain on your credit rating for up to two years. A bankruptcy, which fortunately for Philippe was not his situation, can remain on your report for up to seven years.
Next time Philippe applies for a loan he will have an improved credit rating and qualify for a lower interest loan and will be approved much quicker than this time. Philippe is definitely on the right track of improving his credit rating.

If you live in the Manhattan and you need a loan regardless of a bad credit rating we hope our website helps you in some way.

Sincerely,

Andy Somerset

Andy Somerset is the son of Lance Somerset who founded the We Find Lenders Pool. He writes for WeFindLenders.com whenever he's not working hard on his degree in finance.

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Employment & Education Advancement Opportunities in Manhattan NY

If you live in Manhattan and you're struggling to make ends meet, consider advancements in education and employment.

Job Upgrade: Indeed / Monster

Education Advancement: College / University

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Credit Counseling In Manhattan NY

Manhattan Credit Counsellors Map - Initial Static Image

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Neighborhood Trust Financial Partners
530 W 166th St, New York, NY 10032
www.neighborhoodtrust.org
212.927.5771

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Century First Credit Solutions
230 Park Avenue, 10th Floor, New York, NY 10169
www.centuryfirst.net
844.646.1581

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Credit Counseling
224 Thompson St, New York, NY 10012
212.777.7377

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Credit Counseling
224 Thompson St, New York, NY 10012
212.777.7377

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ARC Credit Counseling, LLC
2268 Amsterdam Ave, New York, NY 10032
credit1ny.com
347.766.6362

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Credit Pro Repair NYC
39 Broadway, New York, NY 10006
www.cprscore.com
855.562.0432

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Manhattan Assistance Programs

Food Bank: Food Bank / Address: 252 West 116th Street, New York, NY 10026 / Phone: 212.566.7855

Hot/Cold Meals: Holy Apostles Soup Kitchen / Address: 296 9th Avenue, New York, NY 10001 / Phone: 212.924.0167

Homeless Shelter In Case of Eviction: The Bowery Mission / Address: 227 Bowery, New York, NY 10002 / Phone: 212.674.3456

Social Assistance Programs: New Beginnings Program / Address: 1649 Amsterdam Avenue, New York, NY 10031 / Phone: 212.283.1753

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Usury and Regs. Governing Manhattan NY

New York State's official website for consumer lending laws.

Summary of New York Usury Law(s) Pertaining to Manhattan / Legal: 16% Contract: 6% but not clear as per the New York State documentation / Judgment: 9% / Corporate: No rate specified.

To learn how you can file a complaint, and/or learn more about the legal code(s) and laws pertaining to consumer financial services in the State of New York go here.

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WFL Loan Product Menu

  • Bad credit scores below FICO 650
  • 200+ lenders review your pre-application(s)
  • Applying does not worsen your credit score
  • Interest rates starting as low as 9% (cs)
  • Collateral not always required
  • Funding between 24 hours and 5 days
  • Terms from 6 months to 10 years
  • Borrow between $500 and $50,000
  • Loans for people with 650+ credit scores
  • 500+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Fast approvals and fast funding
  • Line of credit approvals with reasonable APR
  • Borrow between $500 and $150,000
  • Lenders who provide bad credit consolidation
  • Debt settlement or debt relief services
  • 300+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Seamless approval and funding process
  • Debt relief counseling available
  • Borrow form $5000 - $150,000

 

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