There are various other types of ways for borrowing cash but all those different financing vehicles can actually be categorized into a “secured” or “unsecured” loan. These are the only two basic types of loans that are ultimately available for any borrower. Knowing the differences is important if you want to be smart when it comes to your finances. When you begin researching personal loans you’ll quickly learn that there are different ways to borrow cash for all sorts of things that you need money for.