Where to Go for an Unsecured Loan

Finding a fast personal loan means knowing where to go for an unsecured loan. There are several places to go when you want to apply for an unsecured loan. In finances, just like in life, sometimes it is more important who you know, but even if you are not “connected” you can find unsecured loans. Unsecured loans are loans that require no collateral to back them up.

You should have these things in hand when you go to apply:

  • Proof of income – pay stub, tax form
  • Identification, driver’s license with photo
  • Recent bank statements
  • Personal references information

If you have good or excellent credit it will be easier to find this type of loan. If you have no, bad or poor credit rating the search is a bit harder, but not impossible.

Where to Go for an Unsecured Loan

  1. Friends or Family. The best place would be somewhere you borrow cash with no interest. This could be a family member or a friend.
  2. Credit Card Advance. Another opportunity to obtain an unsecured loan at low or no interest is with or a credit card that has a low interest rate or special deal for balance transfers.
  3. Financial Institution. The next best place to seek an unsecured loan would be a regular financial institution like a bank or credit union. Here you need good credit standing and your loan will have a longer repayment period than cash advances. These are low interest loans for most applicants.
  4. Payday Loan or Cash Advance Store. An option for those who are credit challenged with bad or no credit is cash advance or payday loan stores. With income, a bank account and identification you can get a smaller loan from $100 to $1500 that has is unsecured.


  1. A loan that is backed by collateral requires that if you default on the loan the lender can seize your pledged collateral item and sell it to pay off the loan. If they do not recover all you owe, they will still come after you for the balance of the loan.
  2. Payday loans are unsecured but you leave either a check or ACH withdrawal permission so if you default you will be in a bounced check situation and incur fees, possible legal action and will still owe the lender.