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Being able to get money when you have bad credit isn’t easy. In fact, most often it’s next to impossible – especially if you are trying to get a loan with a low interest rate. Nevertheless, there are ways you can get money if you badly need it and are willing to put up with high interest rates.

5 Ways You Can Get Money with Bad Credit

1. Credit Unions

Unlike a bank, a credit union is owned by its membership and is nonprofit, so the business model under which it operates to provide loans is based on more than just a credit score. If you want to gain access to funds through a credit union, you will have to join it, but keep in mind that just being a member will not secure you a loan. You still have hoops to jump through and will also face a high interest rate if your credit is poor.

2. Peer-to-Peer Loans

Peer lending is a recent trend in the online lending world where companies connect borrowers directly to loan providers. Typically, seeking a loan through here can be beneficial for the borrower because lenders offer better rates than what you can normally get at a bank or credit union. Even if you have bad credit you might still be able to get a loan.

3. Friends and Family

While asking a family member,or friend, for money can be an uncomfortably awkward experience, it is another option for you if you have bad credit. They are someone you know and trust, and they most likely see you in the same light when it comes to being trust worthy. The upside to this type of loan is that the terms of the loan are far more flexible to manage and you may not have to deal with an interest rate.

4. Secured Loans

Home Equity, Car Title, and Pawn Shop Loans are all considered “secured loans” because you use these properties as collateral in securing the money you need. Each are different in their own way. A home equity line typically has a lower interest rate, and you can pay it off over longer period of time; car title loanscarry more risk because you must pay off your loan within thirty days or lose your car; a pawn shop loan is typically only for a small amount of money, and you can lose the property if you don’t repay the pawnbroker in the given time period set in the terms of the loan.

5. Refund Loans, Credit Card Cash Advances, and Payday Loans

These loans carry the greatest risk when it comes to getting money with bad credit, so they should only be used as an absolute last resort if you need money and need it fast. High interest rates are the reason for this caution, but if you need the money, there are a number of companies like need2000loan.com that can help.