Is it hard to get a $5000 personal loan?

Answer by  hightide (131)

It depends on your credit score. Generally, with a credit score of 600 or more, it isn't hard to qualify for a $5000 personal loan. With a score of under 600, banks usually require a collateral (such as a car) to secure that loan. If you earn more than $5000/month, you can easily qualify for a $5000 payday personal loan.

Answer by  okcmouseketeer (779)

The difficulty can vary. Loan amounts are based on many factors. Some of these factors are how much money you earn, current amount of debt, credit scores, how you have handled loans in the past, and what collateral you have for the loan.

Answer by  Jenn69 (29)

It is easy to get a $5000 signature loan from a local credit union if you have fair to good credit and are a member of their field of membership.

Answer by  snceflyf (448)

Whether or not it is difficult to get a personal loan depends on many variables. If you have assets to put up as collateral for your $5000 loan, then it should be fairly easy to get a bank loan. If you do not have any assets, then getting the loan will be more difficult.