Not all of us are blessed with having good credit and if that situation applies to you, unsecured loans can be a convenient and easy way to get much-needed money. One advantage of this type of loan is that because they are unsecured, you aren’t risking any collateral to borrow the money, unlike a car payment in which your car can be taken away if you don’t pay back the loan on time.

Many unsecured loans can be applied for entirely online; gone are the days when applying for a loan meant hours of waiting and filing paperwork at your bank, only to have your loan application refused. It typically takes a few minutes to provide the required personal information, along with your bank account details. And of course, the lender wants to be reassured that you’re able to pay back the loan, meaning you’ll need to provide proof of your income, which doesn’t necessarily have to be from employment.

As previously mentioned, it isn’t necessary to have great credit to be approved for an instant cash loan. Whether you are just starting out in building up a good credit score, or your score has suffered because of job loss, divorce or any other reason, your actual score shouldn’t prevent you from being approved for a loan. That said, the higher your credit score, the better the interest rate offered to you. In fact, a loan can actually be useful in helping your credit score to improve over time, once you are making the monthly payments on time.

Whether it’s for some much-needed home improvements, medical expenses that are simply too high, or to finance the purchase of a new car, the cash from your unsecured loan can be used for anything. The lender isn’t going to ask you what you need the funds for, and there are no restrictions. With most loans, you can have your money deposited in your account that same day, eliminating the need to wait days for approval, and some loans also offer the option of having a line of credit available. Lenders also make it easy to borrow the amount you need, with different loan amounts readily available.

Whether it’s money you need quickly for a car payment, unexpected medical expenses, helping to pay for college, or anything else, unsecured loans are a fast, safe and convenient way to have access to the money you need.