The availability of loans from established lending institutions is at a premium. Banks are more hesitant than ever before, so consumers with bad credit ratings are forced to think outside the box to find the funding they need. This is especially true for large sums, like a $10,000 personal loan.While it is true that applicants have a difficult time, it also means that more creative financing, complete with previously unknown benefits, are being discovered. And for those in need of a large sum, the ability to get loan approval despite bad credit is certainly good news. But what are the alternatives to traditional lenders that we can choose from?As with all unsecured personal loans, it is necessary to convince the lenders that their money will be repaid in full, complete with interest. So, offering something to help in building that assurance is a key aspect to a successful application.Forms of AssuranceIn approaching a lender, it is a good idea to offer something in the way of security, but this in itself can be a challenge. For a $10,000 personal loan, for example, it is necessary to find an item that is worth $10,000 and to offer it as compensation to the lender in the event that repayments can no longer be made.Forms of acceptable security include cars, jewelry and even home equity. These can all help to secure an approval despite bad credit, but ultimately leave the borrower risking something of value themselves. An alternative is to find a cosigner who will accept the responsibility of making repayments should the borrower no longer be able to.But a cosigner must first prove they have an excellent credit rating, have sufficient income to handle the debt and prove their existing debt is not already too high to merit another one. Only if these conditions are confirmed can a cosigner be accepted as part of an application for an unsecured personal loan.Smaller Loan SumsAnother option when securing a $10,000 personal loan is to actually divide the total sum into smaller sums, and seeking funding in that way. This may mean being creative in managing the terms of loans, and even in the purchase or payment plan for whatever the purpose of the loan is.For example, if the funds are to pay for college fees, then a structured payment plan with the particular college could be agreed. Perhaps, small loans can cover each semester, like a $2,000, with the balance repaid over the summer break. This can lead to approval despite bad credit.But be careful. These unsecured personal loans are usually high interest, so monthly repayments on $2,000 could be $750. However, once repaid, the terms of the second loan is better, and then the third is better again.Family or Company LoansOne of the advantages of smaller loans is that online lenders make no credit checks. This means that credit ratings have no part in the approval process. But for a $10,000 personal loan, family and company loans are more practical.Family loans are private loans from family members, and as such vary in their terms. In many cases, there is no interest involved, or is at least very low interest. This makes repayment much more affordable. Approval despite bad credit is certain - all that matters is that the family member can afford the loan sum.Company loans are made by employers to an employee, and because they are the source of income, repayment of the loan is guaranteed. For unsecured personal loans, this is probably the most clear-cut option, and is often the most affordable with low interest rates charged.