Is there anyplace that loans small amounts of money?

WARNING!!!

loan sharks will normally tell you that the interest rate is X% a month. remember that there are 12 months in a year.

1.95% monthly interest sounds low, but its actually almost 29% interest rate.

a lot of these people actually charge 10% and 20% and more monthly! you will never be able to pay that back

If it’s just a small amount of money I’m sure your family member/friends can provide that with honest and without interest.

There’s also http://www.microgiving.com/ but that’s designed for much larger needs.

@grumpyfish I saw someone on there needing 250 or 500 bucks

Around here you can’t spit without hitting a place that will make a “pay day” loan. They have outrageous interest rates, though.

I

Grameen Bank is set up to do exactly this, but mostly in Third World countries. They’ll make micro loans which are actually business loans, to people (women especially, if not almost exclusively, I think) who have an actual business plan and realistic expectations of making a profit and repaying the loan.

Parents.

http://www.zopa.com – Small to large amounts, low interest.

What do you need? Send me pictures and addresses of your family and we’ll talk.

http://www.prosper.com/ may be another good idea, I have not used the service so I cant make a recommendation.

@SarasWhimsy
Use a credit card if it’s only a few months.

Ask your grandma, that what my grandkids do.

Can I borrow a couple thou’ Granny?