Five Easy Ways to Get a $10,000 Bad Credit Personal Loan

To most folks with a poor credit history, it seems unlikely that they could manage to land a personal loan of any type, forget about a $10,000 loan. But, there are ways to get that much cash, usually without all the tedious paperwork required from traditional lenders.

Way One -- The $10,000 Friendly Loan

No credit check is needed for this type of loan. The borrower has no need to present proof of employment. Though it may require some personal adjustment, such as setting aside your ego; your success rate for getting approved is greater than you will experience with a bank or other traditional lender. Even if jobless, friends or family understand the problems you are facing and more willing to lend an ear and a loan. Work out a payment plan, offer interest, write everything down and sign it.

Way Two -- The $10,000 Employee Loan

The next way to try is approaching your employer or an employees credit union. Many bosses will make loans because it is in their personal interest to do so. It promotes loyalty. And, there are no worries about where you work or what you are paid. Waiting for the loan to be disbursed should not take long. If your company has an employees credit union, pretty much the same requirements are enjoyed. Also, loan payments can be taken directly from your paycheck.

Way Three -- The $10,000 Home Equity Loan

This way is an extremely easy way. With your house as valuable collateral, many lending institutions or loan companies are willing to give you $10,000 at very affordable rates, even if your credit is less than stellar.

Way Four -- The $10,000 Licensed Lender Loan

For this way, peruse the want ads of your local newspaper, check the yellow pages, or start your search on the Web. These lenders will do required background checks, proving your identity and residency. These lenders operate under different regulations than do banks or other traditional lenders. They also charge rather high interest rates because of the risk involved. Even though the rates may be high, just figure they are a necessary evil to get you the cash you need.

Way Five -- The $10,000 Cash Advance Loan

Lenders who make this type of loan will have to do background checks as well before they will grant a $10,000 bad credit personal loan. You will also have to provide bank account and employment information, as well as your social security number. You can usually have your cash within a day with these types of loans.

The $10,000 Bad Credit Personal Loan Is Doable

By taking the right approach, setting aside your ego, realizing your interest rates are going to be high, you should be able to land a $10,000 bad credit personal loan. Just be sure you have the wherewithal to pay the loan or you will be assigning yourself court room time, attorney fees, and even more debt. This is not play money. Be sure the way you have chosen is the best. Be sure to do plenty of shopping around – rates vary widely from lender to lender.

Small Business Loans to keep your Business running

One of the most popular kinds of small business loans is the business lines of credit. Any business operator or owner will be granted a lifeline if he opts to go for a business line of credit. People who run small businesses will find this kind of loan to be extra helpful. The money from small business loans like this can be used for any purpose ranging from financing their bill payment, meeting the payroll demands or simply just keeping the operations running when there is a downtime for the business. Banks and financial institutions meanwhile get a chance to keep that business on a short lease of credit while the market value for the business and their future rankings are determined.

The good news regarding these kinds of loans is that they are easily available and even for people that have not been running their business for long or have just started out in the industry. But getting business lines of credit is not that easy because in normal circumstances you will require to provide some kind of personal guarantees to banks or other financial lending institutes that you can pay back the loan amount in good time. Some banks and financial institutes also require the users to undertake a co-signing agreement.

Normally banks and other financial institutions usually give small business loans to companies or organizations that have been operating successfully for a period of more than two years. This stipulation is in place due to the fact that the chances of a business or organization failing in the first two years of its life are much greater than the chances of it failing after a period of two years. Therefore once a company or bank passes this threshold period of two years, it will be eligible to receive business lines of credit from banks and other lending institutes.

Different business owners use small business loans for different purposes. Most business operators and owners use business lines of credit to keep a steady cash flow at hand and to make seasonal or special purchases of items that are in demand or short in supply. Some business owners also use the money to re-stock on some of their current inventory items. This amount can be used for any purpose and you should only make sure that the money is being used for useful purposes as directed by the bank or the financial institute where you got the loan from. Some of the things in which it is not suggested to use business lines of credit are when you are paying the salaries of your employees or giving bonuses to them for extra effort or other reasons. The amount can also be not used to repay credit to other banks or financial institutes.

About Author: 50k guaranteed provides small business loans and business lines of credit that help growing any business without any effect of personal credit report of business debt.