If you don't have any assets to use as collateral for a loan, don't worry. There are still options available to you. Funds in a retirement account such as 401 (k) or IRA generally do not qualify as collateral, nor does cash in a savings account or certificate of deposit (CD) account. You can also look into getting a guaranteed installment loan from a reputable lender.
Many major banks and credit unions offer home-equity loans or car loans with similar collateral at affordable prices. However, it's best to avoid car title loans, as they usually have high APRs (think 100% or more depending on the FTC) and short repayment periods of 15 to 30 days, making them an expensive way to borrow. Savings Secured Loans are another option for those without collateral. This type of loan allows borrowers to keep their cash liquid in a deposit account, usually a savings account or certificate of deposit, while also getting a loan to finance something they need. Finally, Connect2Capital is creating a network of specialized lenders that offer unsecured loans.
If you don't have business assets to cover your financing, you may still be able to get approved for an unsecured loan.