Get a better domain for one. I doubt anyone who's interested in getting cheap loans are going to go on google and search for 'cheapy loan'.
This is wrong: Tough if you get some giid traffic and make it known, the domain does not matter so much if it''s just easy to remember.
Build up the PR and with good traffic, join PPC (adsense, text link ad...), join affiliate marketing. Maybe like the guys suggest sell the whole thing later.
get some unique content you bought that template and text. you need to change all the words and make it unique - then get a lot of backlinks from blogs about loans. but first I think you need to learn about internet marketing a little
Write some articles and submit them to article directories, get some calculators on there. I did this on my finance site and this brings in quite a few visitors looking for loans.