New York City NY
Fair To Bad Credit Loans

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This page was last updated September 2018

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Bad Credit Loan Testimonial Reviews

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Fair Credit Loans in NYC

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New York Community Bank
4246 Broadway, New York, NY 10033
www.mynycb.com
212-543-0960
9AM - 5PM Mon-Fri
9AM -2PM Sat
Closed
Sun

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Municipal Credit Union
280 St Nicholas Ave, New York, NY 10027
www.nymcu.org
212-693-4900
8:30AM - 5PM Mon-Fri
9AM -2PM Sat
Closed Sun


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Lower East Side People's FCU
37 Avenue B, New York, NY 10009
lespeoples.org
212-529-8197
9AM - 4PM Mon - Wed
9AM - 7PM Thu / 9AM - 4PM Fri
10AM -3PM Sat
Closed Sun

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Self Reliance Federal Credit Union
108 2nd Ave, New York, NY 10003
www.selfrelianceny.org
212-473-7310
9AM - 3PM Tue - Thu
9AM - 7PM Fri
9AM - 2PM Sat

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Amalgamated Bank
275 7th Ave, New York, NY 10003
www.amalgamatedbank.com
212-895-8988
8:30 - 4PM Mon - Wed, Fri
8:30 - 6PM Thu
9AM - 1PM Sat
Closed Sun


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NYU Federal Credit Union
726 Broadway #110, New York, NY 10003
www.nyufcu.com
212-995-3171
9AM–3PM Mon - Wed
9AM–6PM Thu
9AM–3PM Fri
Closed Weekends

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New York Times Employees Federal Credit Union
620 8th Ave, New York, NY 10018
www.nytimescu.org
212-354-0351
9AM–4PM Mon - Wed
9AM–5PM Thu
9AM–4PM Fri
Closed Weekends

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Apple Bank
2100 Broadway, New York, NY 10023
www.applebank.com
212-877-7195
8:30AM–4PM Mon -Thu
8:30AM–6PM Fri
10AM–2PM Saturday

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Atlantic Bank
936 3rd Ave, New York, NY 10022
mynycb.com
212-355-3160
8:30AM–4PM Mon - Wed
8:30AM–6PM Thu
8:30AM–4PM Fri
Closed Weekends


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M&T Bank
11 W 42nd St, New York, NY 10036
locations.mtb.com
212-921-5606
9AM - 4PM Mon - Wed
9AM - 5PM Thu - Fri
Closed Weekends

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Bad Credit Loan Form for New York

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

Learn about GAP (Gift Angel Program)

 

NYC Lender Service Area Map

New York City Bad Credit Lenders Map - Initial Static Image

Tap image for interactive map.

The map above shows the main service area covered by the WeFindLenders.com lender pool for NYC. We've also created markers for our recommended traditional financial institutions listed above.

NYC 5x5 Loan App Volume

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

  1. Astoria
  2. Upper West Side
  3. Crown Heights North
  4. Lenox Hill
  5. East NYC

Empire State Building NYC NY: Licensing

NYC $20000 Loan

Andrea in Queens NYC wanted to clean up her mounting debt, and she wanted it done yesterday. She needed a loan for $20000 to clear off her credit card balances, car loan, and some cash loans she made the mistake of excepting. Once again, another consumer fell for a predatory loan offer. No surprise these days with the amount of consumer debt we're carrying as a nation.

At one time Andrea's credit rating was in the fair range and once-upon-a-time she used a financial product from one of the credit unions listed at the top of the page. But those days were over for her. Her score was so low that lenders wouldn't touch her with a ten foot pool - much less transfer $20000 dollars into her bank account.

The days of yesteryear in the world of finance was over. It's been a long time since the good old days when you could get approved for a loan based on your good nature and reputation. It's all just numbers now, and her numbers were low. So low that she gave up trying to get approved and was considering just claiming bankruptcy and walking away from her debt. Her parents talked her out of it thank goodness. You don't want to be claiming bankruptcy over a relatively small amount of money like $20K.

As mentioned above, she had already made the common mistake of getting a loan with a (not even going to say the word) quickie fast cash store. These operations are the worst companies ever, but Andrea felt like she had no choice at the time.

For a job she worked as a registered nurse, so she took home a pretty decent salary. She was grossing around $85000 a year but even with that she was struggling because her DTI (debt to income ratio) was way out of whack. She could never learn to be frugal and live life in a conservative way. She wanted excitement and adventure every day. The problem is that excitement and adventure costs money. Some times LOTS of money.

She went to Florida twice a year and then the Bahamas just months before she realized she was spending herself in to debtor prison. But her wake up call had sounded and she was starting to get a grip on her financial reality.

Andrea found our site through a friend she plays basketball with. Her friend recommend she give WeFindLenders.com a try so she got right on it, found our site, and applied for a debt consolidation loan. She heard back from four different lenders over a nine day period and she took one of them up on their offer to lend her $20000. She had to prove her income and provide details on how much she was paying out each month for utilities and bills.

Her interest rate was 13% with a term of three years. Using the calculator below we can sort out the specifics of her loan.

  • Principal = $20000
  • Interest Rate = 13%
  • Term Length = 3 year
  • Monthly Payment = $673.88
  • Total Paid Back = $24259.65
  • Total Interest = $4259.65

Of course 13% is a high rate to have on a consolidation loan for only three years, but it was by far her best options considering her initial debt was now carrying a massive rate. Then there's the penalty fees accumulating on her balances. She got approved which is great, but if she doesn't get her spending under control she will right back to where she started.

If you live in the New York City and you need a loan regardless of a bad credit rating we hope our web site 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 New York NY

If you live in NYC and you're struggling with making ends meet, you may consider advancing your education and/or finding a higher paying job. We've provided some links here to help with that.

Job Upgrade: Indeed / Monster

Education Advancement: College / University

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Financial Counseling In New York City

New York City Credit Counsellors Map - Initial Static Image

Tap image for interactive map.

1) New York City Financial Empowerment Center / At Phipps Neighborhoods Center / 1030 East 178th Street / Bronx, NY 10460 / Languages: English and Spanish / Mon, Tue, Friday 9AM - 5PM

2) New York City Financial Empowerment Center / At Central Library / 10 Grand Army Plaza / Tue, Thu in the InfoCommons, Room 3 Brooklyn, NY 11238 / Languages: English and Spanish / 9AM - 4PM Tue, Thu / 10AM - 4PM

3) New York City Financial Empowerment Center / Catholic Charities / 161-10 Jamaica Ave 5th Floor / Jamaica, NY 11432 / Language: English / 9AM 7PM Mon-Fri

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

NYC Assistance Programs

Food Bank: Food Bank For New York City Financial Empowerment Center / Address: 71 St. Nicholas Ave, New York, NY 10026 / Phone: 646.981.6111

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: Covenant House New York / Address: 460 West 41st Street, New York, NY 10036 / Phone: 212.613.0300

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

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Usury and Regs. Governing New York City

New York's official website on lending laws.

Summary of New York City Usury Law(s) / 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 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

 

Loan Calculator For Crunching Numbers

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