A loan shark is anyone who loans money to an individual through private means. There is a growing misconception that loan sharks are related to illegal practices. This notion is false. There are peer-to-peer lending services which link you with individuals interested in lending you money.

Things You Will Need

Pen and paper

Step 1

Search for a licensed loan shark lender. These lenders are much more reputable than the traditional loan shark, you can find them all over the internet but only a few sites are deemed reputable. Search on different search engines to find these types of web sites. Usually, the ligitimate lenders are listed on the Better Business Beureau website. Always search a lenders name before proceeding with any negotiations. These lenders also charge unreasonable interest rates.

Step 2

Advertise on Craigslist. Craigslist is a great way to connect with many different types of people, including loan sharks. There is a business and lending section that allows you to post ads. You can post ads that describe your needs and situation. A loan shark will frequently go through these listings to identify which ones have the lowest risk.

Step 3

Advertise on media boards. Media boards that are related to loan sharks can be found everywhere on the internet under the category of blogs. These blogs are related to finding loan sharks and many lenders scan the message boards. You can post your location and a limited amount of information. You can also post a way of getting in touch, such as an old email that you aren't worried about.

Step 4

Search on Peer-to-peer networks. You can find websites that connect you to lenders through their networks. This is the best chance of connecting with individual lenders, because of the ability to link you with thousands of individual loan sharks that can loan you the money you need. You can use a search engine to find these websites.

Step 5

Compare all interest rates. After you find potential loan sharks, make sure to compare all the interest rates. Even if you find a lender with a low-interest rate, always be vigilant. Make sure to look up all lenders on the Better Business Beureau website.


Tips & Warnings