If you’re like most folks, you probably need a little bit of financial help from time to time. It might be that you’re struggling after a layoff, and looking at the end of your unemployment benefits. It could be that you’re changing jobs, and you’ve got a gap in between the time you get paid from your old job and when you actually start your new job. It could be that you’ve decided to go back to school. Whatever the reason, many folks find themselves out there looking for a personal loan.

The problem is that personal loans from traditional lenders can be hard to come by. If you’re just looking for some temporary living money, let’s say less than $1,000, the bank isn’t probably going to give you a loan.

Yes, you can talk to someone in your family about getting a personal loan from a relative. But that doesn’t always work out so hot either. If it goes wrong and you’re not able to pay the loan back, it can make for some seriously awful Thanksgiving dinners.

So, what do you do? Well, here are some unlikely sources you might consider for taking out a personal loan:

1. Person-to-Person lending. A person-to-person loan is also known as peer-to-peer lending. There are a number of websites that will hook you up with someone who wants to lend money. You agree on specific terms with the lender, and they give you the money. Make sure to check out the validity of the site before giving out any personal information, of course.
2. Payday loans. These places suck, at least in terms of their interest rates. If you can pay off a payday loan in 2 weeks, it’s not so bad. Most folks wind up having to renew the loan several times, meaning they wind up paying a ton of interest.
3. Loan sharks. Now, we’re not advocating anything dangerous or illegal. If someone named “Vinnie” or “Guido” wants to loan you money, make sure you can pay it back or you might wind up with a couple of broken legs.
4. Employer paycheck advance. Some employers are willing to give you an advance on your paycheck. If your employer has a formal policy, look into it. If you work for a smaller company, you might be able to talk to someone about the possibilities.

No matter what you do, make sure you have some way to pay back the personal loan before you take the money, or you’ll be in more dire financial straits than when you started.

Photo via alancleaver_2000