Short on cash in a big way and need a loan? The usual way to go about getting a loan is through the traditional channels, like going to your bank or credit union and filling out a long application. Trouble is, these days having a perfect credit score is just not a reality for everyone out there and it can be hard to get a loan from these big institutions with bad credit.

If you are facing the need for quick cash but at the same time have poor credit, the idea of finding a loan shark has probably crossed your mind once or twice. While the term "loan shark" has a negative meaning for many people, there is no shame in going to such a business for a loan. And, these are legitimate companies and are fully legal.

Simply put, a loan shark (although most do not call themselves that) is a company who is willing to put up a short or mid-term loan for people who need the cash right away. Usually, you pay a higher interest rate, but the benefit is that you can get a loan quickly, even with bad credit.

Here are 4 tips on how to find loan sharks online:

1. You can find lenders who specialize in helping people with bad credit

Even though they do not call themselves loan sharks, you can get ready access to a number of companies who are in business to help people like you who need that extra cash when in a pinch. They specialize in working with people who have less-than-perfect (or even very bad) credit scores.

2. Many of these lenders offer unsecured loans

Many people approaching these lenders for the first time are worried that they will need to put up some sort of collateral in order to be eligible for a personal loan. Fortunately, this is not the case. Unlike with a mortgage or automobile loan, getting a personal loan does not require that you put up any collateral, such as valuable personal property.

3. Most loans of this type do not require that you put any money down

For mortgages and auto loans, it is common to have to put 10%, 20% or more down in order to get the loan. However, in the case of a personal loan, you do not need to put any money down. Your loan will be paid out at 100% of the cash value of the loan. This makes getting a personal loan of this type especially convenient.

4. You can get funded right away

Unlike going through major financial institutions when getting a loan, going to a loan shark-type company does not require a complicated application process or a lengthy wait. Often, you can get funded within 24 - 48 hours of applying for the loan.

Having the need to get your hands on cash quickly is not an uncommon problem in today's economy. Luckily, there are companies out there who are ready to extend a loan quickly to someone with poor credit. If you choose to go this route, it is important to do your research and talk to multiple lenders before settling upon the best one.