My best friend Max recently found that he was in need of a new freezer. The old freezer that he had been using completely stopped working the other day. He needed to take all of the food out of his freezer and take it to the home of his best friend Chuck so that it would not spoil. Max went to the store this morning to see how much a new freezer would cost. He quickly began to realize that he would need to get a personal loan so that he could afford to buy a new freezer. He will apply for a loan today.