Odd Online Loans

Wacky Reasons Behind Borrowing

Odd Online Loans
September 13, 2018

Can you believe someone was able to borrow money online to buy basketball trading cards? Not just any card, but a Michael Jordan rookie card that could be worth six figures! While millions of people have borrowed money online to buy a house or condo, we found a social worker from New Mexico who used financing to finish paying off her yurt!

These wacky loan requests were both fielded by the online lender LightStream, which has lent money to good-credit borrowers for all kinds of reasons without any collateral. Among the oddest requests they have fulfilled:

  • A Kentucky man took $10,000 to buy a laser engraving cutter to pursue his hobby;
  • A social worker from New Mexico borrowed $15,000 to finish paying off her yurt;
  • An Arkansas resident borrowed $6,000 "for hearing aids and a car repair";
  • A California man took out a $35,000 loan to purchase an "exquisite" Michael Jordan rookie card;
  • A Georgia resident got a $5,000 loan for grave markers for her parents;
  • $15,000 was spent by someone in Florida to purchase "a Rolex for my spouse";
  • A Florida veteran bought a $5,000 kiln to pursue his hobby;
  • A loan in Pennsylvania for $10,000 was for "new jewelry to celebrate a 25th anniversary." We hope they paid it off before their 50th!
  • A Florida woman invested $7,000 in herself, for career coaching/training and to hire a headhunter;
  • Another Floridian, a retiree, took out a $6,000 loan for a golf cart;

MoneyTips doesn't recommend taking out a loan to take a vacation, but many people have done just that. A Tennessee resident borrowed $5,000 from LightStream to "take my mom on a two-week vacation," while a loan from Oklahoma for $10,000 was funded for "a Homeland birth tour for our daughter."

Weddings are expensive, so many people choose to borrow money to pay for them. But one couple took out a $10,000 loan to help pay for "two weddings: one for a son; one for a daughter." Timing is everything. A Florida couple received $25,000 for a "marriage vow renewal, and a new kitchen." Did the vows say, "I promise to honor, obey, and sauté"? And a Tennessee man took out a $6,000 loan to pay for his son's divorce! We hope it was worth it.

Says LightStream spokesperson Julie Olian, "Clearly, we see that when LightStream offers loans for practically any purpose, people get loans for practically anything, touching all areas of family life, fun and financial well-being." They've certainly proved that!

If you have an odd request for funds, contact LightStream. If your request is wacky enough, it may appear in an upcoming article!

DISCLOSURE: We receive compensation from our partners. The results of our tools (like our credit card comparison tool) and editorial reviews are based on quantitative and qualitative assessments of product features. While compensation may influence which products we review and write about, and whether products appear on our site, it doesn't affect the analysis and opinions of our writers. While we try to feature as many product relevant offers on our site as possible, our site does not feature every company or financial product available on the market.


Photo ©iStockphoto.com/milehightraveler

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