Loans for Unemployed People

Need Money Now? No Job? iPaydayLoans is Happy to Help

Business closures, company downsizing, and health problems, are some of the main causes of layoffs. Have you thought through what’s common to these causes? Let’s help you with a clue; they are beyond the employee’s control. So consider this before beating yourself up too sore. Forgive yourself for getting laid off and draw support from those willing to help you. iPaydayLoans is one of those.

iPaydayLoans can help you up to your feet once again by connecting you with lenders who can provide you with favorable loans for unemployed people. You can turn your finances around for the better by trimming your expenses and making judicious use of this extra cash. Get started with iPaydayLoans now!

Is It Really Possible to Get Emergency Loans for the Unemployed?

Though unemployed, it’s still possible to stay on top of your finances. All you need is a pragmatic approach towards expenses, and of course, utilizing the resources at your disposal. One such resource is a loan.

But the question is how many lenders will be willing to give you one seeing you aren’t currently engaged. It’s only logical that lenders approve employed persons, who they are more reassured have the means to repay and do so on time.

But you’re probably missing this part; that monthly paychecks aren’t the only things that count from a lender’s perspective. Income from rental properties, retirement, disability benefits, interests and dividends, social security, and trust funds also do.

Others are money made from self-employment, freelancing, non-taxable combat pay, and gig economy work. There’s still a good chance of qualifying for a loan if you have any of these alternative sources of income.

How Can I Qualify for Loans for the Unemployed?

To be eligible for a loan for the unemployed, you must:

• Be 18 years or older.
• Have a checking account.
• Have a debit card.
• Have a main or alternative source of income.
• Be an American citizen.
• Have a government-issued ID card.

How Do I Take Out Loans for the Unemployed?

Simple. Fill out the short, simple form provided by iPaydayLoans. In this form, you will be asked basic questions relating to your biodata, and financial information; nothing more. Submit the form and in no time, you will be connected to a panel of lenders.

Each lender reviews your submission, runs soft credit and affordability checks, and presents you an offer if they are comfortable with the results of the checks. Review each lender’s offer, and pay special attention to the loan term, loan conditions, interest rates, and extra fees. Then, choose the one that works best for you. Sign the quote, and you have a deal!

Our partner lenders are proactive and should begin processing your cash soon after. They have a record of releasing funds as soon as the following business day, many times, a lot sooner.

What Are The Advantages of Loans for Unemployed People?

Being out of a job, depending on how long that has been, can make you heavily dependent on friends and families. It doesn’t have to remain this way. You can take out a loan to help you start a side hustle, or polish your CV with newer skills. Why should you consider a loan for unemployed people ahead of bank loans and other alternatives?

Here are some of the reasons why you should consider obtaining one:

• They are very easy to get. Zero paperwork is involved and the entire application process is completed online and within a few minutes.
• They are reliable and quickly disbursed. Since these loans are designed for financial emergencies, lenders make sure to release them as soon as possible.
• They are mostly unsecured. So, you do not need to turn in any of your assets as collateral to get cash.
• Your credit score is no hindrance. You are covered even if you have a bad credit score.

Can I Get Emergency Loans for the Unemployed If I Have Bad Credit?

Yes, you can. A bad credit report doesn’t disqualify you from getting approved for an emergency loan for the unemployed. You have a high chance of approval once you satisfy the basic eligibility requirements. These requirements include that you are at least 18 years old, have an active bank account, provide contact information, have American citizenship, and can provide proof of income.

This income does not have to be a salary or monthly paycheck from an employer. Alternative sources of income also count. This includes unemployment benefits, money from social security, pensions, child support, disability payments, partner income, inheritance, or alimony.

Other Ways to Borrow Money When I Have No Job

Car title loans

Have you been struggling to get a loan due to bad credit? Consider yourself lucky if you are an outright owner of a car. You can use your car title as security or collateral against a loan. Secured loans like this usually have lower interest rates than payday loans.

Assistance from family or friend

For most people, this is the most stress-free financing option to explore if available. But it’s not without its attendant risks. For instance, you risk straining your relationship with a loved one if you fail to pay back the loan on time.

Government hardship grants for the unemployed

There are unemployed benefits and hardship grants given out by the government to help unemployed persons and needy families cover their day-to-day living expenses. These hardship grants are available through different programs run by the government and a few charitable organizations. Show proof you’re in a financial emergency, and you may just be helped with your expenses.