Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Loans for Hospitality Workers - Covid19

Options
  • 19-01-2021 4:34pm
    #1
    GRPETER
    Registered Users Posts: 2 ✭


    Can anyone offer advice for a hospitality working seeking a (car) loan.

    My own bank declined my personal loan application so I went to a broker.
    They said no lenders are looking at hospitality sector worker applications due to the current uncertainty of the industry.

    After an assessment of my personal finances; repayments are not an issue so I am disappointed I am currently labeled as high-risk.

    I have yet to apply for any Hire Purchase application - I hope this my be more fruitful as the vehicle would obviously act as security.
    I am holding my breath.

    Does anyone have any advice?
    Perhaps if I were able to get a guarantor on a loan? - although I think this might only be an option for student loans?
    Is there anywhere else I could turn to??

    Thanks.
    Tagged:


Comments

  • Options
    #2
    phormium
    Registered Users Posts: 3,331 ✭✭✭phormium


    Credit Union? If you are not an existing member it might be more difficult but some do take loan applications immediately, mainly the bigger ones.


  • Options
    #3
    GRPETER
    Registered Users Posts: 2 ✭GRPETER


    I have contacted my local Credit Unions.
    My closest one isn't taking new members during Level 5 (typical!).
    So I signed up online to my next closest. I am just on the border of their 'Common Bond' which is like their catchment area.
    I am waiting for my membership application to be approved now!
    Then I will have to try apply for loan.
    I did some online research in the meantime and it looks like Credit Unions are giving loans to workers affected by Covid but potentially only up to €2,000.
    This is a nightmare.


Advertisement