Banks Suck

Being self employed for 6 months, it is impossible to get a loan from a bank. But Apparantly if you are employed by a self employed person for a few months, the bank will take that as a steady income and gladly give you a loan. I dont blogswear much but thats fucken crazy. In other words if i had been working for a self employed landscaper for 3 months and received regular pay slips, i could take them to a bank and take out a decent sized loan, hardly any questions ask, but the owner of that buisness would be unable to get that same loan because he is is classed as self employed, not employed, and would have to wait until he had 12 months of book keepings to access the loan.

The other frustrating thing about banks is that if you work somewhere and receive weekly payslips, not only can you get a loan but you can borrow a few hundred thousand for a house, but if a self employed person wants to borrow a measly 5 thousand dollars for a car, it is deemed too much of a risk. There is nothing to say that the employed persons job is safe, he could be fired or retrenched at any second, or may be taking out the loan with the knowledge he will leave that job as soon as the loan money hits the bank.

If i knew 6 months ago what i know now, i would of applied for my loan a month before i was due to leave my old job, showed them my payslips and borrowed ten thousand dollars for a ute.Then left that job to start my buisness.

In talking with an independant loaning agency, they seemed quite happy to loan me money, at a similar interst rate, but their catch was minimum 15 thousand dollars, and all of that had to be transfered to the car delearship, so in other word i couldn't use any of the money for a trailor or a pond pump, over 4 years the repayments where about $100 a week,

I have banked with the commonwealth for over 15 years, and deposited tens of thousands of dollars with them, yet the tight arses cannot provide me with a measly 5 thousand dollars,

Not only that, if i want to open a buisness account with them, it would cost me $50 for them to confirm my abn is legitimite. A process that would take less then 30 seconds to do via the taxation website, And then it would also cost me fees and so forth every year for their privilidge of using my money to invest with. I wish every single person would withdraw all their money from the commonwealth bank, and show them we dont need them, they need us, and see how it feels to be left without money. Fuck the commonwealth bank and it's billion dollar a year profits, and its ceo's being paid tens of millions of dollars, yet a hard working small buisness owner cant get a small loan due to their pathetic salary requirements.