Non-Traditional Lenders Offer Easier Approvals

Online, December 27, 2010 (Newswire.com) - If you are one of those adversely affected by the recession and are looking for employment, I'm sure that you are intensely aware of the many costs associated with job hunting. And, while new technologies such as on-line job sites and electronic classifieds have made looking for a job easier sometimes, the opportunity cost of the time spent job-hunting, the unavoidable out of pocket expenses can really add up. Job-hunting costs include the costs of printing and mailing resumes (yes - many people still look for a job the old fashioned way!), travel expenses, relocation costs and sometimes even clothing costs.

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Even the traditionally "employable" - recent college graduates are struggling. As the job market has tightened, more young people report difficulty finding jobs. While President Obama has asserted that the economy continues to improve and contended that the economic stimulus legislation passed a year ago is having a positive effect, it will take some time before enough jobs are created to offset the average national unemployment rate of 9.7%.

Often, those who are searching for a position find themselves having to turn to personal loans or tap into a revolving line of credit in order to make ends meet during this difficult time. Non-traditional lenders have often been easier to work with - approving personal loans for those in difficult financial circumstances, while banks, a more traditional source of credit have struggled. Credit unions, small banks, private money lenders and finance companies often have retained the ability to make personal loans to young people, and are usually more flexible in their approval guidelines.

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