• Loans from friends or family members – If you know someone who’s financially comfortable, you might be able to arrange a no-interest or low-interest personal loan.If you go this route, however, be certain you can afford the loan. Avoid any strained relationships or hard feelings by keeping up with the payment schedule.
• Home equity loan – If you own a home, you may be able to tap into your equity. While these loans tend to come with lower interest rates, the downside is that your home serves as collateral, giving the lender the right to foreclose if you default.
• Car title loan – With a car title loan, you use your vehicle as collateral to secure the loan. However, these kinds of loans are notorious for charging high interest rates, and you risk losing your vehicle if you can’t pay back the loan.
• Pawn shops – Pawn shops offer loans by holding your personal property as collateral and charging interest on the money you borrow.Because these loans tend to come with very high interest rates, however, they’re generally not the best option. Worse, you risk losing your property if you can’t pay back the loan.
• Get someone to cosign – If you can’t qualify for a personal loan on your own, you can try getting a cosigner. If you go this route, however, make sure your cosigner understands that they will be responsible for the balance if you default.

When you’re in a bind and need quick access to cash, it can be tempting to sign with the first lender willing to take you on. Before you commit to any form of personal lending, however, it’s important to make sure you understand all the terms and conditions, including the interest rate and any penalties and fees.

If you’re unemployed, you may still qualify for a personal loan. On the other hand, even if a lender is willing to offer a loan to a borrower who’s unemployed, almost all lenders require some sort of monthly income.

For example, if you receive disability benefits or spousal support, this might be enough to get your loan application approved

Likewise, some lenders accept borrowers who receive Social Security benefits, and some will approve applicants who get a certain amount of retirement benefits or pension money every month.

If you have bad credit and you’re unemployed, working with a loan aggregator can be an effective strategy for searching for personal loans. This is because you submit your financial information through a single application, so potential lenders can see exactly what kind of income and credit score you have before they extend a loan offer.

In most cases, loan payday loans fast Mississippi aggregator sites don’t do a hard pull on your credit, which means you don’t need to worry about accumulating several hard inquiries that can hurt your credit score.

If you choose to pursue a loan offer, however, the individual lender will most likely run a hard inquiry, which will post to your credit profile for several months.

Can I Get a Loan Without Proof of Income?

Depending on the type of loan you want, you may be able to get approved without showing proof of income.

In some cases, you can get a secured loan without proof of income. With a secured loan, you offer some sort of collateral, such as a house or vehicle, to protect the lender in the event you default on the loan.

With a car title loan, for example, your vehicle serves as the collateral that secures the loan. However, you risk losing possession of your car if you can’t make your payments, which is why it’s best to avoid these types of loans.