To avail these loans, you need to be in a job that pays you monthly salary regularly for at lest past few months. However, the best way to apply for these loans is through loan service providers, as these loan providers work with a wide network of lenders and take out the best loan deal from the marketplace. However there are number of factors on the basis of which lenders approve your loan amount and repayment term that might comprise your ability to repay the loan and your present financial position in the market. Typically individuals apply for loans once Christmas is round the corner or once they begin looking.