Getting a loan can be a bit tedious and may be impossible for people with poor credit scores. However, the days when the banks were your only option for getting a loan are long past and there are plenty of other options out there.
There are several other kinds of financial institutions which have the ability to issue loans, which can significantly improve your chances of being granted a loan.

Internet-Based Lenders

The Internet is an amazing invention which has not only created countless jobs and enabled fast and reliable communication all over the world, but also helped propel some of the existing jobs and services into the high gear which make our fast paced modern world possible. One of those things is banking and loaning.
P2P or peer to peer lending is an amazing advancement in loans technology, where you don’t get a loan from a single person or a single entity, but rather from a group of peers. This type of loans is good for all parties. The borrower can expect a smaller interest rate, because there isn’t a huge cumbersome bank behind the loan, whereas people who invest their money in P2P lending get a pretty good interest of their own, much bigger than if they put their money into a savings account. Seeing how everything is done online, you can take your time and browse through different agencies at the same time and pick the one whose conditions suit you the best.
If you want to learn more about this kind of lending, you can read this handy article One of the most appealing things about these loans, apart from great conditions, is the fact that everything can be done online, without a third party involvement.

Credit Unions

Unlike traditional banks, credit unions are financial institutions which are qualified as not for profit organizations. Whereas banks give out loans for their own profit, these organizations are largely focused on serving the community. The members of the credit union are the owners of the union itself, which makes it easier to get a loan there.
However, there is a catch. In order to get a loan from a credit union, you need to become a member of that union. Some of these unions are fairly close-knit and it would take knowing someone in that union to join, whereas others will let you join for a small contribution.
The huge advantage of these credit unions is that the interest rate you can expect is much lower than the one you get from a bank. In fact, it will probably be the lowest one you can find anywhere. However, some of these credit unions still expect you to have a good credit score to qualify, so even if you are a member, a loan cannot be guaranteed, and you would still have to pay the joining fee.

Non-Bank Lending Organizations

If neither of these previous two options work out for you, there are other options. Non-bank lenders do exist, but the interest rates on this form of lending will be higher, so it is strongly advised that you research the previous two options.
To get a non-bank loan, you will still need to go to the offices of the lender in person, which complicates things somewhat, especially if that organization doesn’t have a branch near you. However, the loans in these organizations are still approved even when your credit score is fairly low, which may be a life saver for people who really need a loan.
Even though these organizations do work online, and require you to apply online and will even pre-approve you online, they require you to come in person and confirm your identity. Another thing which these companies do is offer all kinds of insurances for the loan you are taking. They are much more likely to convince you to insure your loan in person. However, if you talk to any financial advisor, they will likely advise you against it, as it is just a waste of money and you don’t really need it.

What to Pick?

All in all, you are much more likely to get a loan and to find the conditions that suit you the best thanks to the internet and the existence of alternative lending organizations. You should still look out for various scams and shady business practices, but overall, the odds of successfully landing a loan have improved greatly over the last few decades.
Fortunately, the development of the internet has enabled us to research the whole process online and to compare the possible rates and final outcomes well before we commit to anything. Do your homework and make sure that you don’t miss the opportunity to pay less. Listen to experiences of others, or even consult a financial advisor to help you.