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Cash Advance Payday Loan – San Gabriel, Temple City, Los Angeles

Mr. Garcia (name changed) applied for a cash advance payday loan from his home and business in San Gabriel/Temple City. This is as bedroom community directly East of Los Angeles. His financial situation is unfortunately not uncommon, in that he can’t get approved for a small business loan from his local established creditors, and he can’t get approved for a loan as an individual because he does not have a job with an employer. He slips through the cracks of the lending world – so to speak.

So in this application the applicant (Mr. Garcia) was trying to get approved for a payday cash advance product with a local PDL provider, and the money was really for his small business which he operates out of his basement suite. This seems crazy I know, but it’s the only option many small business owners have these as the banks are keeping their money tightly to their chests.

At the end of this loan application we provide a tip for this applicant on how to get a very small micro-loan from a conventional lender, with a proper APR. This involves incorporating your small business and begin treating yourself like an employee of the corporation, with the normal IRS Form 944 slips and the normal pay stubs. This way lenders can’t assume you are just some fly-by-night jippo operator. This puts you in a far better position for loan approval and qualification.

Cash Advance Payday Loan – San Gabriel, Temple City, Los Angeles – The App

What kind of loan are you applying for :: Payday cash advance loan, but I’m using this money to buy some much needed inventory for my small home business.

How fast do you need this loan funded :: I could have used this cash advance back in November but if I can get the cash in my account a week before Christmas that would make it so that I could get my inventory built up for the Holiday rush. I tried to get a normal small business loan from some of the local banks and/or credit union branches here in the Temple City, San Gabriel area, and I tried to get approved for the small loan with a Bank of America Branch in Los Angeles as well – with no luck at all. Damned frustrating trying to get any kind of capital at all these days! The BOA branch that turned me down is included below, just in case you are looking for a small business loan Los Angeles too. You might want to not waste your time with this branch.

Cash Advance Payday Loan in Los Angeles – Purpose of Loan

What do you need this cash advance for :: I’m purchasing some inventory for my little home business that I run out of my basement in my home located at the boundary of San Gabriel and Temple City (L.A.). I sell shoes, skateboard decks, skateboard trucks, wheels, T-Shirts, DVDs, and magazines. I need to get a cash advance of $2000 – $3000 to buy what I need for the season. After everything is sold I will easily be able to pay you back with interest.

What City, State, and County do you live in? :: San Gabriel-Temple City, Los Angeles, California in Los Angeles County

Zip :: 91776 – 91780

Are you serving in the United States Military? :: Nope

Cash Advance Payday Loan in Los Angeles – Employment History

What is your employment history? :: I have worked in various retail stores as a salesperson, clerk, inventory order clerk, and shelf stock-er. I have been mostly involved on the floor in sales working with potential buyers and customers. I have over 6 years experience working stores around the East Los Angeles area and right downtown in L.A. as well. I am now self-employed and need some help with a quick cash advance loan. I know that it’s a little bit weird using a payday loan or cash advance to stock inventory, but it’s the only option I have left now. Please help me get through this season because I am desperate for this advance.

Employment Position :: Owner proprietor.

When are you paid (biweekly/monthly)? :: I pay myself every week and the amount of my payday depends on how much product I have sold in that week. So to answer your question, I get paid every Friday.

Bank name and Branch Location ::  Bank of America – 102 E Las Tunas Drive San Gabriel, CA 91776 – (626) 453-8400

How are you paid (EFT, paper check, cash)? :: Cash on the barrel head so to speak 😉

Gross Amount Per Paycheck :: The amount of my Friday take-home pay varies greatly. I make around and between $600-$800 a week after all my creditors are paid and all my overhead is looked after.

Have you ever a paycheck go NSF with a no Teletrack payday lender in the past? :: No – never ever applied for a payday cash advance loan before. This is the only time of year this might work for me, because of the sheer volume of sales I can generate. I have a loyal customer base.

Cash Advance Payday Loan in Los Angeles – Privacy Considerations

Don’t include ABA, bank routing, or SS #s here. Will you allow this info published online (privacy guaranteed) :: Yes. You can do with as you wish as long as my real name, address, and email are hidden from public view. Please make sure my privacy is secured.

Extra info here :: With the on coming busy season, and compared to last year’s intake of profit from my little home business, I am certain I will make a solid profit this December, and I will be able to pay you back the cash advance in full by January 15th. Please give me an opportunity to prove my ability to do so. Thanks very much in advance for considering my loan.

Cash Advance Payday Loan in Los Angeles – CLF Tips and Conclusions

Attached note from cash advance provider :: Our staff at CLF spoke with Mr. Garcia on the phone and expressed our concern regarding his form of income. You see, all of our payday cash advance lenders only approve, qualify, and fund cash advances to applicants that have steady employment, in this case Mr. Garcia does not have a reliable and steady employer, even though he claims to have a solid income from his small business.

TIP for Self-Employed Applicants :: Consider incorporating your small business and then generating the IRS Form 944 slip to yourself as an employee to show lenders and banks your actual income. This goes a long way to show how organized and viable you are as a customer/borrower/client. You can also generate a cash-able check and pay stub from your own corporation, showing banks and conventional lenders that you have a steady income from your employer.

I have personally applied for loans with conventional and lenders as an employee of my own company, and not even mentioning that I am also the owner of the company. Banks then treated me just like an employee with a steady paycheck.