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Credit Union Loan for $5000 in Fresno California

The current writer is looking for a credit union loan for $5000 and lives in Fresno California. He and his wife both work and they believe they have fair to good credit rating. They have no other loans or debt at this time. They rent a town home and are just making enough to live a comfortable life. Unfortunately they have not been able to save any money towards emergency expenses.

Their second car has broken down and they need over $5000 in repairs to the car. Fortunately he works at a car dealership which gives him access to discounted car parts and the repair bays to do some of his own work. Even with these savings the cost of the parts for his car is gong to come to over $5000. Right now they are sharing the other car to commute to work.

They have a good to fair credit rating since they do not have any loans at the moment and they have never missed any payments on utilities, credit cards or past loans.  This situation gives them a good credit rating, however at the income level they are at, cash flow is a bit of a problem. They make sufficient income to pay all of their monthly bills, with little left over at the end of the month. There are no savings for emergencies like this one.

Based on this information, they may have difficulty qualifying for a loan. Their rent and utilities is a large portion of their monthly income. However both intend to ask for additional hours at work and hope to be able to repay the loan, if it is approved, more quickly. As soon as the car is repaired they plan to work more hours.

With only one car, the commuting time is just too much to also try to work extra hours as well and coordinate pick ups and drop offs at each others place of work.  They also have credit cards which have a zero balance at the moment. They do not want to use their credit cards due to the high interest rates on unpaid balances. Even with overtime it will take them several months to repay the loan in full.

This consumer will be asked to provide additional information to help with the decision to approve the loan. Once the loan is approved, the money can usually be in his account within twenty four hours. He will need to pay for the parts before he can begin to work on the repairs to his car. It may take him a few days to get his car back on the road and then begin working added hours.


Home/Mortgage Loan Amount : $5000

Home Loan Application and Processing Speed (when do you need the funds): immediately, to help pay for repairs to my car

Do you currently have a mortgage? : no, we rent a town home in the city

Bank Name and Branch : California Bank and Trust, Fresno St

What City/Town, State and County do you live in? : Fresno, California

Zip : 93720

What is your employment field? : Automotive Repair

Employment Position : Parts Manager at a local dealership

When are you paid? (monthly/weekly/biweekly): Biweekly

Your credit rating to be – excellent, fair, or bad? : Fair to good, I think

How did you find us? : Looking for loans online that can be processed quickly without a lot of red tape

How are you paid? (direct deposit/paper check): direct deposit into my checking account

Gross Amount Per Paycheck :$1200

Do you agree to have this information published online, without your PRIVATE information of course? : Sure, no problem with this information being published online, however I really do not want my work place to know about this application, so please keep all of the personal stuff private

Extra information here please (some detail): I need a $5000 loan to pay to get my car repaired. I work as a parts manager for a local dealer and will have the car repaired at the shop. They give employees pretty good rates on parts, plus we can access the repair bays after hours to work on our own cars. The dealership is excellent that way.

Although we get a discount on the cost of the parts, I still need to pay for them up front before installing them on my car.  Right now I just do not have the money saved for this kind of repair costs and I cannot take the car in to work on it until I can pay for the parts.

We have two cars. My wife is dropping me off at work and then continues on to her job. It is out of the way and makes her commute pretty long. That is why we have two cars on the go all of the time. We both want to get the second car repaired as soon as possible so that we can have more time at home and less time on the road.

The money situation is pretty tight at the moment. We can afford this small loan, however there is not much money left at the end of the month for anything else. We both plan to work some overtime to repay the loan more quickly, however we really cannot start with more overtime until we have two cars on the road again. Our schedules are already pretty crazy and trying to balance two jobs with crazy hours and one car would be impossible.

Regarding our credit rating, I think we are ok. We have never missed any payments on loans or credit cards or on utility payments. Our rent is always paid on time as well. We do not use credit cards, although we have them. We just find that they are too tempting to use and the interest rates are really high. In this situation we might use one of the cards if we cannot get a more reasonable personal loan.

Can you help us with a $5000 loan to pay for parts to repair our second car?