If getting an unsecured personal loan doesn’t work out, you might consider one of these alternatives:
Borrowing from friends or family: Keep in mind that the IRS says these types of personal loans must be reported on tax returns and paid back with interest. You might be better off asking for a gift, as long as it doesn't exceed $16,000 (as of publishing). Line of credit: A line of credit is similar to a personal loan in both its requirements and its application process. The main difference between the two types of funding: A personal loan is paid out as a lump sum, while a credit limit, like on a credit card, lets an individual borrow up to a certain amount over time. Home equity loan/HELOC: If you’re a homeowner, you can use a home equity loan or line of credit to leverage the equity you’ve built up through years of mortgage payments. Debt consolidation loan: Debt consolidation companies help you pay off your current debts with a new loan. You then make just one monthly payment. Crowdfunding: Online crowdfunding platforms, like GoFundMe and Kickstarter, give you the opportunity to raise funds from people on the internet. Payday and title loans: These types of cash advances should be a last resort. Be aware: Many companies targeting folks with “bad credit” charge extremely high APRs — sometimes up to 100% or more. We suggest first exploring payday loan alternatives. Other loan options: Depending on your situation, a business loan, 401(k) loan, car loan or peer-to-peer lending might work out.