The no-interest loans are very small, but the low interest loans may suit your purpose if you are looking for a ,000 loan.
With this type of loan, you can finance a car, computer, or another domestic expense.
If you need the loan now for an emergency, that obviously is not an option, but if you are not in a huge hurry, it is a good place to start.
Here in Australia, there are non-profit organizations which help out members of the community with their needs.
The payday lender may or may not be interested in your credit rating; it depends on the company you go with.
There are two main risks you should be aware of when dealing with these types of lenders. Since subprime and payday lenders work with desperate customers, they know they have the upper hand.
The risk to the lender is negligible at this point, since they can always take your property if necessary to recover the amount of the loan.
If you are certain you will be able to pay back your loan in a timely fashion, a secured loan is a great option for you because it allows you to work with a familiar lender, perhaps even your own bank.
You are given a few years to pay these loans off, and the low interest rate never balloons.
Organizations that provide loans to disenfranchised community members usually restrict the uses of their loans to a few purposes, but if your purpose fits with theirs, and you qualify under their eligibility guidelines, you may very well find a community program like this one to be the best option.
One organization to look into is the Good Shepherd Youth and Family Service, which has been operating in Australia for 150 years.