Now more than ever, people are relying on personal loans to finance their purchases. In fact, over the last five years, the number of people with personal loan debt totaling more than $30,000 has risen by 15 percent, according to data from Loanry.
While most people think of important purchases like homes, cars and a college education when they think about loans and debt, the reality is that people can take out personal loans — or at least put in applications for one — for anything. Seriously — anything.
To prove just how bizarre people’s loan requests can get, Loanry surveyed 5,086 loan brokers and personal bankers about the oddest loan requests they’ve gotten. The results were shocking, to say the least.
One broker noted that they once received a loan request to buy a tiger. Another got an application to borrow money to follow David Hasselhoff on tour around Europe. Someone else worked with a client who wanted to borrow money to visit every Applebee’s in the U.S.
The absurdity doesn’t even end there. In the survey, one person noted that they once reviewed an application that requested a personal loan to get plastic surgery to look like Kris Jenner. Another applicant wanted to build an underground nuclear shelter inspired by the video game Fallout. Perhaps the most unusual request, though, came from someone who simply wanted to see what $10,000 in cash looked and smelled like.
Of course, these loan requests are hardly the norm, and professionals don’t encourage people to take out large sums of money for such silly things.
“We encourage everyone to be cautious when taking on debt, use loans responsibly, and to ensure they pursue every avenue available to them to make the right choice,” Ethan Taub, founder of Loanry, said in a press release.
According to Loanry, it’s unclear how many of these loan applications —if any — were approved. Honestly, though, I’m rooting for the Applebee’s guy.
Get everything you need to make this delicious Butternut Squash Bruschetta from Walmart+:
If you want to spend your money on something unusual, this T. rex can be yours for a cool $8 million.
More from In The Know:
The post These are the strangest reasons people have taken out personal loans, according to bankers appeared first on In The Know.