If you are like a lot of people in the last few years, you have lost a ton of money and if you are like ten percent of the United States you are currently unemployed.  That's right - 10% of the people in our great nation currently don't have a job.

Since things have been so tough in our country, a lot of people have been struggling to get back on their feet.  While most people should take their unemployment and go back to school, for other people this is not an option and while they look for a job need a way to get some money to make ends meet.

For other people they just need a small loan for a business, for an addition to their home, or to bridge a gap between jobs or in case of a funeral or other similar event.  If any of these scenarios sound like you then one of the better options is to look for good signature loans.

As the name implies, these loans are loans that only require a signature and do not require you to put up any collateral that is later in danger of being repossessed.  For instance on a car loan the lender can come and take your car away if you don’t pay.  A home lender can take your house away if you don’t pay.  On a signature loan however they cant take anything away from you, of course if you fail to pay it you will see that on your now damaged credit history.

The standard interest rate for this type of loan is about 11% right now. This of course is dependent on your credit history. If you don't have a FICO score that's above 720 you'll probably have to take a higher interest rate.

If your FICO score isn't that great, fix your credit.  For instance most credit histories have a few mistakes and if you can correct them you will be in a lot better situation come loan time as you can get a far better interest rate as well as fewer prepayment penalties. You can also greatly improve your credit score my paying down your credit card accounts.  If you want to get any type of loan, especially a signature loan then you should look into your credit history.

If you're interested in taking out this type of loan and have bad credit, you have limited options. I would highly recommend taking a glance at my article if you're in this situation: Signature Loans For People With Bad Credit. It will at least help you to figure out whether you're a candidate or whether you're going to have to make a radical change to be able to get your funds.

There are quite a few different lenders that will allow you to apply online for these loans. If you want to learn about a few of them, you can read articles that I've written about some of the major banks: Wells Fargo, Bank of America, Chase, Bank One.

There are basically two ways to get signature loans with no credit check. The first is by committing fraud and obviously I wouldn't recommend that. The second is by visiting a payday loan store. This option is legal in most states but you will get absolutely destroyed on your interest rate.

I have quite a few people ask me about using these loans in college. DON'T DO IT! There are tons of student loans that would be smarter, even if you need student loans for bad credit. They will have better interest rates and will be a lot more favorable in their terms and conditions. They even have student loans for off-campus housing if you're trying to pay for your apartment.

If your credit history is legitimately in horrible shape then you will likely have to resort to getting a loan from a payday loan outfit.  These lenders while very easy and simple to borrow from have been referred to as the legal mafia as they charge extremely high interest rates for their loans.  Whereas a high loan with a bank may be twenty percent interest a payday loan shop will charge upwards of thirty percent a month.  Yes, you read that right a signature loan from a payday loan shop can cost thirty percent a month.  So when getting a signature loan pay attention to your options and your credit history.

People try to find information on this all the time, but the truth is that all signature loans are unsecured.