Lenders will typically find your eligibility through a credit check. You may also need to be in full-time employment or have regular income that is above a set threshold. The amount you’ll be eligible to borrow will depend on your credit score, your monthly income, and how much you can afford to pay.

But long gone are the days when you had to go to your bank and ask for a personal loan directly. These days, you can borrow money from a network of trusted lenders online, even if your credit score is low. However, to make sure you don’t end up paying sky-high interest rates or expensive hidden fees, you’ll need to know the right places to look.

It is best to spend some time researching the most reliable and trustworthy lenders online. There are financial experts with websites and blogs that can recommend more. It’s also a good idea to read forum posts or customer reviews to point out dubious or fake lenders; it’s easy to get caught up this way.

You might consider using a lending platform that can connect you with a network of pre-vetted lenders. This is a great way to find reliable lenders with the best APR (Annual Percentage Rate) to make sure your data stays protected and you get the best deal.

The type of lender you choose will depend on a number of factors related to your current financial circumstances. There has been a recent trend of “payday” lenders, which allow people to borrow small amounts to get by until the end of the month. However, many of these short-term solutions are best avoided, as their interest rates are incredibly high.

If you only need a short-term loan, it’s best to check with your bank or a trusted online lending source. The best lenders will advertise APRs between 5.99% and 35.99% depending on your personal circumstances, so rule out any lender that charges higher annual interest rates than this.

If you know your credit score is low (you can check it for free online using a site like Clear Score), you’ll need to find a lender that accepts people with poor credit. These lenders will decide how much you can borrow based on other factors: your monthly income, reliable employment, time spent at the address, etc.

Keep in mind that late payments will negatively affect your credit score, so don’t borrow more than you know you can afford. Most responsible lenders will calculate how much you can afford based on your monthly income, any outflows, and your chosen repayment period, so they shouldn’t offer you more than you can afford.

Once you have found a personal loan site, you will need to apply for a loan of money. This will usually involve filling out a simple form. They may ask you the purpose of your loan, how much you need to borrow, and how long you think it will take to repay.

Once you’ve entered these details, an online tool should calculate how much your monthly payments will be and how long it will take to pay off your loan. You will then need to provide proof of your identity, income, and possibly your employment before a decision is made on your application.