 TITLE: How Does a Hardship Loan Affect Your Credit? CONTENT: What Is a Hardship Loan?\n------------------------\nA \"hardship loan\" may be more of a marketing term than a technical one, says Rod Griffin, senior director of public education at Experian. \"Typically, these are small-dollar, short-term personal loans that are meant to help people get through difficult times,\" Griffin says. \"Some may carry a slightly higher interest rate because they're being marketed to people who are experiencing financial difficulty.\"\nWho offers hardship loans?\n*   **Personal loan providers** specialize in uncollateralized loans, although they aren't necessarily called hardship loans.\n*   **Government programs** may exist to help people in need, particularly if you're looking for a small business or agricultural loan. Check this interactive government loan finder for federal resources, or investigate programs in your state or local area.\n*   **Employers and employee groups** may offer loans to employees, such as programs for federal employees.\n*   **Credit unions** often provide hardship loans to their members and may feature relatively low interest rates.\n*   **Banks** don't always offer these types of loans, but it never hurts to check with your bank for options.\nNot all lenders who advertise hardship loans are great options, however. Some loan offers are scams, while others may come from predatory lenders that charge triple-digit interest rates and give you only a few weeks to repay. These loans make it difficult to get out of debt. Because the term \"hardship loan\" can mean so many different things, it's critical to gather and verify as much information as possible before you apply for a loan. END