Do you have needs that go unmet because your paycheck is insufficient to pay for anything other than essentials? If so, you may want to consider taking out an unsecured loan that can help you pay for all the items that you have been missing out on. An unsecured loan is readily available for many of the purchases that you wish you had money to make, such as new furniture for your home, new appliances for the kitchen, or even holiday shopping needs.No Collateral At RiskAn unsecured loan is a loan that is not secured by any type of collateral. The unsecured loan is great for borrowers who do not wish to risk their collateral (such as their homes) in order to secure the loan they need. Also, if you are a borrower with no collateral to pledge, the unsecured loan is perfect for you.Borrow Up To $15,000Unsecured loans can be obtained in varying amounts, ranging from $1,000 on the lower end to $15,000 or more on the higher end. Be certain to borrow only the amount that you truly need, and be sure to take into account any financial constraints you might have before taking out your unsecured loan.All Credit Types WelcomeBorrowers of all credit types can qualify for unsecured loans. However, those borrowers with credit scores that exceed 650 will be given priority and also lower interest rates. Those borrowers with FICO credit scores less than 650 can still qualify, although the unsecured loan will cost more in terms of the interest that will be charged on the principle amount borrowed.When a lender is considering your application for an unsecured loan, they will be looking at a number of different factors. First and foremost, the lender wants to see that you have adequate income to repay them when they extend money on your behalf. Good work history is a must when obtaining an unsecured loan, and lenders like to loan money to people who demonstrate that they are capable of holding down a job with the same employer for a number of years. The lender will also look at your previous credit performance to determine the risk that he is taking when he loans you money by examining your track record with other lenders.Although bad credit borrowers are approved everyday, your interest rate will be determined indirectly by the manner in which you have paid other lenders – so if you have been late, interest rates will increase on your unsecured loan offer. The potential lender of your unsecured loan will also look at the types of credit you have had and how you handle your credit limits – this shows your lender your ability (or lack of) to manage money.Borrowers with all types of credit histories can qualify for readily and with more ease with online lenders. Online lenders have lower standards when it comes to writing unsecured loans because they have more capital to invest than your local bank does. What this means for those who have had some financial difficulty is that they can borrow money on an unsecured loan at rates that are very competitive with traditional lenders, regardless of their bad credit history.