How to Find a Loan Fast

A quick loan can help meet your immediate financial need, wherein you'll have cash to pay for items such as a car repair, home improvement or school tuition. But unfortunately, getting a loan often proves challenging. You can't walk into a bank and request a loan without providing the institution with specific information. Knowing what to bring when applying for a loan can speed the process and result in a easy approval.

• 1

  Get your credit score to assess your chances of getting a loan. People with low credit scores rarely qualify for bank loans. Order your score from MyFico.com, and take steps to bring up your score -- preferably higher than 700 to get a loan and a good interest rate. Pay bills on time and reduce high credit card balances.

• 2

  Get your finances in order. Be prepared and make duplicate copies of tax returns and paycheck stubs to show potential lenders.

• 3

  Check with your personal bank. The bank or credit union you choose to bank with may approve you for a low-rate personal loan based on your good history with the institution. Speak with a bank loan officer to discuss your options

• 4

  Shop around for other loan deals. Contact one to three other banks for a loan quote, and then compare these quotes with your bank or credit union to determine the best loan deal.

• 5

  Secure the personal loan with personal property. Collateral helps you acquire a loan with little hassle. Choose collateral that matches the value of the requested amount. Good collateral includes a car title or home equity.

• 6

  Let someone co-sign the loan to help you get approved. When your credit score or income isn't enough to get a loan, use a co-signer to qualify. Lenders will use their credit score and combination of both incomes to determine loan eligibility.