Obtaining small to medium sized loans has become increasingly difficult since the onset of our recent global financial trouble, but there are many good deals out there if you know where to look. Although the media might well claim that banks are no longer lending, the truth is very far removed from their projected reality, and so this guide will help you to make informed choices and find the most suitable loan for you. The Unsecured Option The benefits of an unsecured loan are numerous. Rates are usually fixed, which means you know from the onset how much your repayments will be month to month. Also, if you wish to pay your loan back early, lenders of unsecured money are only allowed to charge a maximum of two months interest, which makes this option ideal. These loans are specifically designed for people who do not own property, and its a good job too. In the past it would have been impossible to obtain a loan if you had no collateral, so the unsecured option is a real godsend because you don’t have to risk valuable commodities. The Secured Option If you’re a homeowner, a secured loan will most certainly offer the best interest rates for you and your family. Although, it is important that you read the small print as secured loans often have variable rates, which means your monthly payments could well increase and decrease at the will of the lender. You will undoubtedly manage to secure more credit if you use your property as collateral, and nowadays can even loan cash against the value of your car with fantastic companies like Mobile Money. What To Do If You Have A Poor Credit Score Not everyone will have made the best financial decisions in the past, some may even have many debts already, and this can often cause your credit score to drift away from the desirable. If this is the case, then you might wish to apply for credit card with bad credit. Still, never fear, you can obtain a copy of your report very cheaply nowadays and this is certainly a good move for anyone considering applying for a load. If you have a bad credit rating, you will almost certainly be refuse any sort of credit. However, payday loan companies and doorstep lenders often overlook the credit rating, choosing to judge the situation based on the individual. It is vitally important that you read through all paperwork and consider all options before you take out a loan because both payday loan companies and doorstep lenders often charge extortionate rates of interest if you miss payments. However, if this isn’t a problem, and you’re certain the repayment money is on its way – these options could well be your only choice. So there you go, a quick and simple guide, highlighting the credit options available to you in this time of serious financial need. The best option is always a secured loan, but if you own little property, this solution is unlikely to be available to you, so at least now you know you haven’t hit a brick wall.