If you need some cash for a personal reason--such as medical bills or debt consolidation--you may be considering a Personal Loan. And they're a good idea, since there are no restrictions on how you can use the money (unlike a car or mortgage). Although interest rates are higher than that of a Home Equity Loan or Home Equity Line of Credit, Personal Loans are available to anyone--even those who don't own their home. To find a Personal Loan lender, try:

LOCAL BANKS

One of the best places to start is with your local bank or credit union, especially if you're already a customer. A good banking history will make you a premium customer, making it more likely that you'll get approved for the loan. And some banks will charge current customers a lower interest rate than what they'd charge someone new. If your bank doesn't offer the loan you need, flip through the yellow pages to find other local financial institutions that might have the product you desire.

ONLINE LENDERS

There are lots of online lenders who offer personal loans to new customers. Do an Internet search for "personal loan" or "personal loan lender," and chances are you'll come up with hundreds of possibilities. Just make sure you watch out for unscrupulous scammers! Online lenders should still provide you with excellent customer service, reasonable interest rates and reasonable fees.

ASK FRIENDS AND FAMILY

Odds are someone else you know has borrowed money with a personal loan at some point in time. Ask friends and family if they have a particularly good loan company to recommend. It's also a good way to find out about any bad lenders, too, who jack up their rates or charge exorbitant fees. If you know someone who's had a great experience with a Personal Loan lender, make sure to include their reference when you're comparing loan companies. Here is a list of recommended Personal Loan Lenders online. It's important to use a reputable lender online to make sure your personal information is secure.

After you find a few different Personal Loan lenders, make sure you compare all the basics like interest rates and fees before you pick one to ensure you get the best deal.