Well technically you are getting something called an ‘unsecured’ loan. That’s what a payday loan is.
Which basically means the lender isn’t asking you to provide anything to ’secure’ the deal. For example, they are not holding any of your personal belongings for cash.
Something a pawn shop owner in South Surrey may do. Or like a bank would ask for some "collateral "(Like your house or car, etc). In exchange for releasing funds.
This makes a personal loan an ‘unsecured’ loan. At least that’s the technical way of looking at it.