Unsecured Loans loan is smaller, and might be due within a few weeks, but many lenders have repayment plans available. Some lenders will even take an application over the phone or the Internet, and wire the funds via direct deposit. A person needing some instant cash for an unexpected expense could find unsecured loans are a great tool for sparing and responsible use. All that's meant by unsecured loans is a loan that is lent without the backing of collateral, which means there usually is a financing charge, or a shorter repayment term. It is hassle free.