Person to person lending is one of the most common ways to acquire an unsecured personal loan. Peer-2-peer lending has become more common in lending practices. These sites connect the lender and borrower in a secure way to do business. Beware of scams and company's that are not verified by the Better Business Beureau.
Things You Will Needpen and paper
Verify your employment. Each lender will ask you to verify your employment and credit at the beginning of the process. Make sure to be specific on what dates you worked and didn't work. Collect all pay stubs dating 6 months before the date of application.
Use Prosper. Prosper is one of the most direct ways to connect with the lender at a low fee. These lenders often charge less for unsecured loans than most banks. This site claims to have loaned millions of dollars through its peer-2-peer network that connects borrowers and lenders.
Go through private lenders. People have flocked to private lenders because of the difficulty involved in getting banks to lend. Private lenders offer higher interest rates for new or high risk customers but they deal with unsecured loans. To find the best private lenders, look for online reviews of company's near your city.
Step 4Pay attention to the loan contract. Some lenders will add unreasonable terms to their loan contacts to scam their customers. Be vigilant and be aware of lenders who will charge unreasonable interest rates. You should also be aware of company's who will change the interest rate on your loan in the middle of the re-payment process.
If you have poor credit, consider a loan shark. Loan sharks are widely misunderstood as being people who break bones and deal illegally. This notion is widely incorrect, most loan sharks are honest people who are willing to lend to high risk clients in exchange for high interest rates. You can find loan sharks in online forums or chatrooms looking to lend. Make sure to check the persons legitimacy through background or criminal checks.
Verify each lender. Fraud is always a problem in a monetary system, which is why you should verify a company's legitimacy through the Better Business Beureau website. Read each complaint with an open mind, because some customers will deliberately leave bad comments about a company because of unresolved issues.