The global financial crisis is in full swing, and unlike the rich fat cats on Wall Street, the little guys like you and I do not have an affluent Big Brother (aka: the U.S. government) who is looking out for us and bailing us out of our financial difficulties with billions of dollars in taxpayer money. If you are among those who work for a living but have a need for funding to make major purchases perhaps you should consider a personal loan to fight the financial crisis. Personal loans are available as either secured or unsecured, which means you may or may not want to pledge collateral to obtain yours.Money For Your NeedsA personal loan is a loan that hard working individuals take out to meet their financial goals and needs. You may have a multitude of purposes for needing a personal loan. Many people take out personal loans to catch up on mortgage payments or utility bills. Perhaps you need to purchase furniture, pay for a wedding, take a vacation, buy a car, pay tuition for you or your child to attend college, remodel your home, renovate your garage, install a pool or sauna, or a myriad of other ideas you might have in mind. A personal loan is great for these purposes and more.Choose Your Loan TypeTwo types of personal loans are available, the secured personal loan and the unsecured personal loan. The differences between the two are the total amount that the credit will cost you as well as the length of time that you will have to repay your lender. Whether or not you wish to pledge collateral will also weigh into yourThe secured personal loan requires that you pledge security in the form of your home or automobile to secure the loan. Many borrowers prefer the secured personal loan because they get lower interest rates and a longer repayment term, which means that they will make smaller monthly payments, leaving more of their income free for other purposes. The secured personal loan is also the easiest to get approved for creditors of all borrowing types.The unsecured personal loan does not require that you pledge security. This is a riskier loan, and therefore will cost you more in terms of interest that you will pay on the loan over the loan term. You will also be required to repay the unsecured personal loan faster than the secured version, and thus your monthly payments will be higher, leaving you less of your personal income for other purposes.Go With An Online Lender To Save MoreBoth versions of the personal loan are readily available for borrowers with all types of credit histories online via the Internet. Most lenders doing business online are very competitive due to the large number of lenders in the online marketplace. What this translates to for you as a borrower is even lower interest rates and friendly repayment conditions when you go with an online lender for your personal loan.