Do you find yourself in need of quick money? Maybe you’re in a bad financial spot as the result of a job loss or illness. Or maybe you’re seeking cash in an attempt to keep your business afloat.

Regardless of your situation, there are a few places you can turn. Since you’re in a hurry, some options, such as a bank loan, may not suit you. For this reason, you may immediately turn your attention to two other options:

• Credit card
• Loan shark

While it’s never a good idea to run up a large amount of credit card debt, it’s always better to choose this strategy as opposed to “doing business” with a loan shark. Here are three reasons why:

• Credit card companies are reputable. With a credit card company, you know you’re working with a legitimate and reputable operation. The same cannot be said about a loan shark.
• Lower interest rate. Even if you have a high interest rate credit card, it’s safe to assume that the rate will be lower than what you would secure through a loan shark.
• For example, you can pay a small minimum payment each month if necessary. Along with this, you may have the opportunity to transfer your balance to a zero percent credit card in the future. None of these things come into play if you borrow from a loan shark.

With all this in mind, you should have a better idea of why it makes more sense to choose a credit card than a loan shark.

Racking up credit card debt may not be your idea of a sound financial move, but this is always preferred over taking money from a loan shark.

On the surface, there are many reasons to do business with a loan shark. You can secure funding in a hurry. You don’t have to complete a lot of paperwork. The “lender” will tell you everything you want to hear.

Of course, if you continue down this path, you could soon find yourself in a bind.

Rather than opt to do business with a loan shark, you’re better off considering one of many other options. With a variety of benefits and flexible features, a personal loan is something to consider.

Here are four reasons why this is one of the best alternatives to a loan shark:

• Zero fees. This may not hold true with every lender, but many don’t charge origination fees. Furthermore, they charge no other fees as long as you continue to pay on time.
• Fixed rate. Forget about your payment changing from month to month. With a fixed rate loan, you’ll always know how much you owe.
• Flexible repayment term. Are you interested in a 36 month loan? How about 84? What about something in between? You have many options.
• The amount of money that you need. Depending on the lender, you may be able to borrow up to $35,000 (or more).

Along with the above, there’s one last thing to note: some lenders are able to provide an instant approval (or denial). This allows you to get a better idea of where you stand, all without the wait.

In many ways, a personal loan is similar to one from a loan shark. The one main difference, however, is that you’re completing the transaction with a reputable lender who has your best interests in mind.

What are your thoughts on securing a personal loan? Is this something that could improve your finances?

Is your business in need of capital for expansion? Are you considering all options with the idea of finding the method that will put your company in the best position to succeed?

If you find yourself in this spot, there are steps you should absolutely take as well as things that you need to avoid.

Before we get into the three best ways to secure business capital for expansion, we want to mention something you should never consider: a deal with a loan shark.

These lenders appear to have everything you’re looking for, including lots of money that is available in a relatively short period of time. However, the problem with this is the high interest rate and the lack of a formal agreement.

Sure, a loan shark can lend you money when you need it. Even so, the interest rate will work in their favor and the overall safety of the transaction will leave a lot to be desired.

With all that out of the way, here are three of the best ways to secure capital if the time comes to expand your business:

• Bank loan. Why turn to a loan shark when you can work directly with a legitimate lender? This will give you a variety of options, as well as peace of mind.
• Credit card. It’s not always the right approach, but a credit card can help you access money without delay.
• Friends and family. If there are people in your life who are interested in investing in your business, don’t hesitate to present them with an offer.

Business expansion can be one of the best moves you ever make in regards to your professional career. As long as you know where to get the capital you need, you won’t find yourself making a mistake that could backfire in the future.

Have you expanded your business in the past? Where did you turn for funding?

Are you in need of money? Are you interested in getting your hands on cash in a hurry?

If so, it’s likely that you’ll begin to consider your many options. For example, you may turn to your credit card. Or maybe you ask a friend or family member for a loan.

In the business world, when you need cash fast there are a variety of places to turn. Unfortunately, some people talk themselves into thinking that it’s a good idea to strike a deal with a loan shark.

Here are several reasons why you may try to talk yourself into a deal with a loan shark:

1. It’s Fast

When compared to a traditional bank loan, for example, a loan shark can fund you in less time. For many, this is like a dream come true.

Of course, there is more to taking a loan than speed. You have to consider what you’re giving up by getting involved with this type of relationship.

2. Less Paperwork

Loan sharks don’t require that you fill out a long and detailed application. Instead, all they care about is lending you the money and charging a high rate of interest.

Once again, this may look good on the surface, but it will actually work against you in the long run.

3. More to Come

Loan sharks are notorious for telling you that they’ll loan more money if you need it in the future. While this may be true, it will come at a cost. After all, this is how these people make their money. They charge a high rate of interest and use scare tactics to ensure that you pay on time.

Although you may be tempted by a loan shark, don’t talk yourself into this relationship. Instead, seek a more legitimate opportunity. By doing so you’ll feel much better in the end.