Most people can qualify for an unsecured loan as long as they can prove steady employment. An unsecured loan is a loan that does not use property as collateral.

This means if a person cannot pay the loan back, the lender has nothing they can seize in order to pay off the loan. These types of loans are a gamble for banks and other lenders because it can take a long time for them to get their money back if a person declares bankruptcy or just doesn