I need to borrow money

 There are many sources of borrowing money, but it is important that you choose a source that doesn’t put you in a more disastrous position. In Australia IOUs from relatives, family and friends is over $12 billion between the age limits 18-34. A risible thing here is that over 50 per cent of the Australians who borrowed money from their family happily admit that they never paid back.
Banks, friends, family, or any other loaner will lend you the money that you need based on certain important things that builds your credibility. Before you approach your lender, it is better to know about the person (or institution) and proceed accordingly. Why know about them? If you are not able to pay on time, you can negotiate the interest for a comparatively less late payment.
Your credibility depends on the following;
Your ability to repay – This is one of the most important things that determine if you can borrow money or not. If the lender thinks you have the ability to pay back on time, you’ll be granted the money. So keep in mind that you should always make it clear to the lender that you will be able to pay back the borrowed money on time.
Your credit history – Always keep an impressive record. Your credit history matters for a lot of reasons. Even if you want to borrow money for a business, your credit history will be canvassed. Thus, get your personal credit report and ensure that you have a good credit record. If you have a bad credit report, you should have a good explanation for it and how you managed to rectify the same.
 Your Income tax payment – Pay your income tax and file all your income tax returns. This is very important if you’re going to banks for loan.
Your Collateral security – This is another important thing to keep in mind if you’re going to approach banks for loan. Basically, collateral is your second source of repayment. House, furniture, shares, are some of the most common collateral.
If you have the entire above points perfect, your loaner will not hesitate to lend what you require.