My dear friend, long story short, loan is not supposed to be given to somebody who cannot give it back. Bad credit score indicates that you have been a defaulter in the past, hence it’s not very easy to get a loan from banks and NBFCs.
Loan is a one of the major businesses for lenders, hence they can take risk. But there are some institutions who are willing to disburse small amount of loan to anybody basis on your ability to repay.
Caution: Such loans are very expensive. To give you an idea about the heavy interest rates you end up paying for such loans would be between 18% and 40%.
Here’s a list of sources you still can get loan at high prices
P2P Lending:- It is a crowd-funding model, which is largely online. This is a platform where people invest their money with people who want to borrow without any interference of any financial institution.
Loan from friend: Kyoki har ek friend zarrori hota hai. If you are in a dire need of money. Request your friends, if you are lucky and a trustworthy individual, your chances are high to get money you need.
Loan against collateral: If you are ready to keep some of your valuables with the lender as collateral, you have fairly good chances that a small loan can be taken. In such cases, the lender will lend because there is no risk involved, if you do not repay they can sell off your collateral to recover the amount you have lend. Remember, you get nearly half of the price of your total collateral as loan.