Loans are hard to get in a bad economy, mainly because the banks are tightening up their budgets and it's even harder to get a loan with no credit. The most common type of loan given is the payday loan, but even it requires some form of credit for rating purposes. However, there are plenty of ways to get a loan with no credit.
Things You Will Needpen and paper
Prepare what information you have. You should get tax returns, prior employment stubs, bank statements and personal I.D. information. Most sites you go to will offer you the ability to send this information right away or talk with an agent first. All of this information will be needed for the loan application process.
Go to Peer-2-Peer lending sites. Peer-2-peer lending is a popular way of connecting with millions of possible lenders across a broad network. These lenders are not banks but affiliates of Peer-2-peer lending sites. Your credit is important but certain types of investors will knowingly take on riskier investments. They do this so they can raise the interest rates and pick out the few good borrowers. Your credit is usually rated from A to E, and even credit ratings of E can get loans on these networks. You will have to pay a high interest rate though.
Look for loan sharks. Loan sharks are notorious for being associated with illegal activities, but that isn't the case in this situation. These types of lenders are refered to as loan sharks because they are not an institution or private lender, they remain under the radar. You can find these types of lenders on forums related to loan sharks. They will frequently scan forums where people are asking for money. Some lenders will even post information on forums.
Shop for the right interest rate. Whether you're dealing with loan sharks or a peer-2-peer lending network, you should look for the right interest rate. Even with a credit rating of E, you shouldn't have to pay more than 30% interest. Make a list of each site or lender and compare interest rates given. If a person is offering you a really low-interest rate or one that is too high, you should scratch them off the list.
Do background checks. The online world is notorious for being infested with scam artists and con men. The various types of scams involve lenders offering unreasonable interest rates and trying to get you deep into debt. You should never deal with anyone who has a criminal record. If you are going through peer-2-peer lending, all of your clients have already been verified.