 TITLE: How to Get a Small Loan With No Credit CONTENT: Where to Apply for Small Personal Loans\n---------------------------------------\nYou can apply for small personal loans at banks, credit unions or online. Begin by investigating which lenders offer personal loans with small minimum amounts. You may want to start with your current bank or a credit union you belong to. Experian's CreditMatch™ tool can help you find prospective sources of personal loans.\nOnce you narrow down your options, it's time to apply. You may have to make a call or pay the lender an in-person visit at some point in the process, but most lenders let you at least start the application process online and get prequalified for a loan that way. Prequalification provides you with estimated loan amounts, costs and terms you can use to compare lenders and doesn't affect your credit score. Some lenders don't require a credit check or they'll use alternative data to help them determine your loan eligibility. Once you find a lender you like, you can move ahead with the application process.\nYou'll need to provide personal data (name, address, birthdate and Social Security number) to apply for a loan. You may also have to submit tax returns, pay stubs, bank account numbers and other personal financial information to help a lender understand your income and existing debt obligations. Different lenders also might consider additional factors; for example, online lender Upstart also considers alternative data including your standardized test scores, which college you attend\/attended, your major and your grade point average.\nWhen comparing personal loans, look at the following factors:\n*   **Interest rate**: Lenders express interest rates as an APR that includes interest, fees and other costs. Most lenders provide a range for their current loan APRs; just keep in mind that with no credit, you're likely to be charged at the higher end of that range.\n*   **Loan terms**: Personal loans are short-term loans and generally must be repaid within 12 to 60 months.\n*   **Fees and other charges**: Find out if origination fees and other costs will be taken out of your loan proceeds and if there is a prepayment penalty for paying the loan back early.\nYou can use Experian's Personal Loan Calculator to compare different loan terms and costs, calculate your monthly payment and decide which loan is best for you. END