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How to Get a Personal Loan

It was a hot summer day, and Fred’s air conditioner unit had finally quit. He knew it was on its last legs but was hoping it would hold out for the rest of the summer. It cost $4,000 for a new and efficient AC unit, and he didn’t have the money. Fred needed to get a personal loan so he and his family would not suffer in the intense heat. What can he do? Here are some of the options.

Credit Cards

If you have enough available on your credit line, most businesses will accept them as payment. However, not everyone has this much available. This is not always an option, especially when you need several thousand dollars.


Banks are willing to help if you can give them collateral. They may let you have a signature loan for a thousand dollars or so, but if you need more, you’ll have to look elsewhere.


Family can be a great place to get a personal loan if you have a good relationship. However, borrowing money is a good way to create family problems. If a relative doesn’t have the money, he or she may offer to co-sign on a loan. However, this makes it harder for that person to obtain financing until the loan is repaid.

Online Unsecured Lenders

Online unsecured lenders offer many financing options, but which one should you choose? When you go to a personal loan specialist, they can help you get a personal loan that best meets your budget. Here is how it works:

  • Go to the loan specialist website and apply.
  • They check out all the available programs and match them to your credit rating.
  • In as little as ten minutes you can have a list of available loan programs.
  • Pick the loan from the list.