Long Beach CA
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California Lenders > Long Beach

Last updated April 2019

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Fair Credit Lenders in Long Beach CA

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LBS Financial Credit Union
4341 E 10th St, Long Beach, CA 90804
www.lbsfcu.org
562.598.9007

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Long Beach Firemen's Credit Union
2245 Argonne Ave, Long Beach, CA 90815
www.lbfcu.org
562.597.0351

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SchoolsFirst Federal Credit Union
4725 E 2nd St, Long Beach, CA 90803
www.schoolsfirstfcu.org
800.462.8328

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Remove
lantic Ave, Long Beach, CA 90806
www.ahfcu.org
562.933.0370

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Orange County's Credit Union
1802 Ximeno Ave, Long Beach, CA 90815
www.orangecountyscu.org
888.354.6228

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Long Beach City Employees FCU
2801 Temple Ave, Signal Hill, CA 90755
www.lbcefcu.org
562.595.4725

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Farmers & Merchants Bank
4545 California Ave, Long Beach, CA 90807
www.fmb.com
562.984.3600

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TNL Car Title Loans
225 W 3rd St, Long Beach, CA 90802
www.thenetlender.com
562.276.2528

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Long Beach Auto Title Loans
4510 Pacific Coast Hwy #407, Long Beach, CA 90804
www.autotitleloanslongbeach.org
562.392.8693

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Fast Money Car Title Loans
3451 Cherry Ave, Long Beach, CA 90807
www.ineedafastmoneyloan.com
877.594.4025

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Bad Credit Loan Form for Long Beach

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

Learn about GAP (Gift Angel Program)

 

Long Beach CA Lender Service Area Map

Long Beach Bad Credit Lenders Map - Initial Static Image

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Long Beach 5x5 Loan App Volume

Top 5 list of neighborhoods in Long Beach for pre-app volume. Source: WFL Lender Pool Data. Updated Monthly.

  1. Elftman
  2. Belmont Heights
  3. Lincoln Village
  4. Dolores
  5. Los Altos

Long Beach CA: Licensing/Credit

Consolidation Loan In Long Beach

Dashawn was asking to be approved for a loan so he could pay off some payday loan companies, his two credit cards, and some money he owed his uncle.

Here is the breakdown of these different debt amounts.

$1000 to payday loan store
$500 to cash advance store
$2500 to Visa card balance
$1000 to his Amex card
$1000 to his uncle

It was difficult for Dashawn to find a lender who approve such a relatively small loan. We've seen borrowers actually spend a few extra thousand dollars to put their total debt above the $10000 dollar mark.

That way you can find more lenders who will consider a personal loan. Each lender has it's own threshold principal they go by. All lenders have a principal amount minimum written into their policy and procedure manual.

So Dashawn ended up applying online and not using a lender in his home town of Long Beach. Actually, he wasn't even approved with a lender in the State of California. He chose to accept the terms and conditions in the loan agreement of a nation wide lender.

We'll list of the offers he received from the WFL lender pool below.

• Debt Consolidation Amount = $6000
• Interest Rate = 9.97%
• Term Length = 1
• Monthly Payment = $527.41
• Total Paid Back = $6,328.94
• Total Interest = $328.94

With his $6000 dollar loan at a rate of 9.97% he was paying $527.41 for 12 months. This results in over $6300 paid back to the lender in total. The monthly payment was something Dashawn was fine with considering the income he gets from his two car wash jobs.

However, he really wanted to get the monthly payments down to around $150 per month. That wasn't possible because none of the lender would agree to that number.

You can only hope that Dashawn will continue to maintain his monthly income so he can service his new debt.

Nation wide lender @ 9.97%
CA State lender @ 12.38%
Long Beach local lender #1 @ 13.02%
Long Beach local lender #2 @ 10.34%

That's actually quite a large variation in the interest rates he was offered by the lenders who emailed him. The rate of $9.97 is still relatively high for an interest rate.

Ideally you want to have some kind of asset (like a house) and a line of credit leveraged from that house. Then you want that HELOC (home equity line of credit) to have a rate very close to the federal rate. Even with all that you would still have to have an excellent credit rating to get a rate that low.

But Dashawn was very happy to be out from under the debt collectors. He was really happy to be free of the payday loans and the cash advances. He was caught up in the "cycle of abuse" that predatory lenders are so good at getting young people hooked on.

If you are having a hard time paying your rent and servicing your existing debt, try to stay away from these payday lenders. It's nothing but trouble.

Are you a Long Beach resident and need a loan regardless of bad credit. We're here to help!

Sincerely,

Andy Somerset

Andy Somerset is a WeFindLenders.com contributor with an extensive background in personal finance and money management.

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Education & Employment Advancement Opportunities in Long Beach CA

Having money problems? Can't keep up with your bills? Consider upgrading your education and/or seek more lucrative employment in Long Beach area.

Job Search: Indeed / Snag-A-Job

EDU Advancement: College / University

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Credit Counseling In Long Beach

Long Beach Credit Counsellors Map - Initial Static Image

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Unified Credit Repair Service of Long Beach
3224 E Anaheim St #642, Long Beach, CA 90804
562.222.5928

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Fresh Start Credit
3728 Atlantic Ave, Long Beach, CA 90806
freshstartcredit.net
562.275.7157

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Cred Up Credit Management Group
F5, 3711 Long Beach Boulevard, Long Beach, CA 90807
credupla.com
562.922.1936

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Springboard Nonprofit
3363 Linden Ave # A, Long Beach, CA 90807
800.431.8456

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Long Beach Assistance Programs

Food Bank: Food Bank of Southern California / Address: 1444 San Francisco Avenue, Long Beach, CA 90813 / Phone: +1 562-435-3577

Hot/Cold Meals: Catholic Charities Of LA Long Beach Community Services Center / Address: 123 East 14th Street, Long Beach, CA 90813 / Phone: +1 213-251-3432

Shelter In Case of Eviction: Long Beach Rescue Mission / Address: 1335 Pacific Avenue, Long Beach, CA 90813 / Phone: +1 562-591-1292

Social Assistance Programs: Long Beach WIC / Address: 2525 Grand Avenue, Long Beach, CA 90815 / Phone: +1 562-570-4242

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Usury and Regs. Governing Long Beach

California DOB Website / California Usury Law Codes

Summary of California Usury Law(s) / Legal: 7% Contract: 10% for personal, family or household purposes or any other purposes / Judgment: 10% / file an online complaint, or learn more about the legal code(s) applicable to the State of California view our California State page.

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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

 

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