You must be careful when you need a loan. Some businesses make it very easy to get a loan, but the payments are very high. One type of these businesses is payday loans. For example, you may need $200 to fix your car, but you may end up paying $700 back. These businesses are called “predatory lenders” because their lending practices can take advantage of the weak and those who do not know much about money. They make the process easy, but they also charge very high interest on the loan, such as 300 or 400 percent. Instead, you should go to a bank or credit union. Yes, it is true, some banks or credit unions will not work with people who do not have a history of getting loans or a credit card. That is why many people seek out these predatory businesses. But there are enough banks and credit unions that will work with you. It is a matter of finding the one that is best for you. So you may need to visit or call some different ones and explain your situation, or work with someone you trust to help you find a good alternative to the storefront lenders.