How long it takes: Usually one to two days for the check to clear.
Pros: You can create your own terms, but interest rates of about 1.65 percent might apply (check with an accountant about tax implications).
Cons: Not repaying can ruin your relationship with a family member.
Do it right: Get the terms in writing. See a sample note at legaldocs.com.
How long it takes: About a week.
Pros: Peer-to-peer lending sites lendingclub.com and prosper.com let you borrow from strangers. Interest rates average about 13 percent for a three-year loan.
Cons: You need a great credit score (750+) for the best rates.
Do it right: Have some recent pay stubs to fax to verify your income.