Just because you don’t have a traditional job, it doesn’t mean that you’re excluded from access to finance when you need it most. For example, unemployed people often don’t have a mainstream job, but they still earn a monthly income through alternate streams.
In the past, getting approved for a loan when you weren’t employed was tricky, and you’ll still find that most banks are reluctant to offer you a loan if you’re not working – this is where unemployed loans come in.
The reason lenders tend not to be keen to take on unemployed borrowers is that they worry that if you’re not working, you won’t be good for the money when it comes time to repay it. If you take an unemployed loan, you’ll be given several alternate options of providing proof that you’ll eventually be able to pay back the money you borrow.
Unemployed loans are most commonly used for:
- Household maintenance and repairs
- Vehicle repairs
- Paying off debt
- Going on a vacation
- Buying appliances and equipment
And much more.
At Viva Payday Loans, you can apply for an unemployed loan by filling out a quick online form. It takes a few minutes to get all your details capture, and when you submit the form, just two more minutes until a decision is made. Once the decision is made and the loan agreement signed, the money is sent to your account, ready to use by the next business day. We can provide you with access to some of the best instant loans for unemployed people in the USA with a few simple clicks!
Unemployed loans available at Viva Payday Loans:
- Amount: $100 – $5,000
- Terms: 2 to 24 months
What Are Unemployed Loans and How Do They Work?
As the name suggests, unemployed loans are designed to help people without a job borrow money. Because many lenders will only allow people to borrow money if they’re currently working, cash loans for unemployed people are the breath of fresh air that many would-be borrowers need to know about.
Unemployed loans are small loans that can be received almost instantly by the borrower. Think of them as a small injection of cash to be used for necessities until the borrower is able to repay the money in the near future.
People who are unemployed can apply for an unemployment loan by proving they have a regular source of income. If you’re unemployed and managing to pay your monthly expenses, you probably know that it’s entirely possible to live without being permanently employed. That’s where alternate income sources come in. Proof of earnings doesn’t necessarily need to come from an employment pay stub. Many people receive income every month through various other sources. Some of the most commonly accepted forms of income include:
- Allowance or regular aid from family
- Monthly benefits
- Disability income
- Income from a spouse or partner (your spouse will need to co-sign)
- Child support
- Trust proceeds
- Dividend and recurring interest payments
- Stocks and bonds
- Rental/property income
If you’ve got a good credit score, you will find it easier to be approved for an unemployed loan. This is because, with a good track history of repaying the money you’ve borrowed, lenders feel more assured of your ability and willingness to handle your finances correctly.
However, even with a less-than-perfect credit score, some lenders can help you get the cash you need. In fact, some lenders regularly offer these types of loans. Viva Payday Loans works alongside specialist lenders to provide loans for unemployed people, self-employed people, freelancers, students, and others who don’t have a traditional mainstream job.
Types of Unemployed Loans
At Viva Payday Loans, we offer the following types of unemployed loans.
Loans for Unemployed People
Not many people know that there are loans for unemployed out there. Loans for unemployed people may seem a little obscure, but they’re not. They are the perfect financial solution for people who don’t have a traditional job but still earn or receive a regular monthly income. If you’re self-employed, on benefits, receive an allowance, have a trust, or earn income through royalties and investments but don’t have a regular job, you’re considered “unemployed.” If you’re in this situation and need a personal loan in a hurry, apply for our loans for unemployed people at Viva Payday Loans today.
Guaranteed Loans for Unemployed
Of course, you don’t want to spend hours applying for loans only to receive rejection after rejection, and sadly, that’s what happens to most people without a traditional job and pay stubs to present. That’s why so many unemployed people choose to apply for a loan through the Viva Payday Loans portal. Our panel of lenders offers guaranteed loans for unemployed individuals. So, if you get your regular income through means other than a job, you’re in luck! Apply for a loan with us today!
Emergency Loans for Unemployed
Emergencies crop up for everyone, even people who don’t have a regular job to go to every day. At Viva Payday Loans, the lenders on our panel offer emergency loans for unemployed people as long as they can prove they receive a regular income and can afford the cost of the monthly installments. Income can be in the form of trust payments, rental property income, investment dividends, royalties, your own business (self-employed), an allowance, or similar. Just make sure you have all of the supporting documentation required and meet our minimum requirements!
Instant Loans for Unemployed
Not employed in the traditional sense and need cash in a hurry? By now, you’re probably aware that people without proof of employment and regular pay stubs often have a hard time getting a personal loan. An emergency loan is even more difficult. At Viva Payday Loans, we pride ourselves on working with lenders who offer instant loans for unemployed people as long as they meet the minimum requirements. What’s even more exciting is that the application process takes just 2 minutes, and you can expect to get the cash you need in as little as just 1 hour. – Personal Loans for Unemployed
Payday Loans for Unemployed on Benefits
If you don’t have a regular job and you’re currently on benefits, it doesn’t mean that you’re out of the running for a payday loan. In fact, we work with lenders who are willing to assist unemployed people on benefits. When you apply for payday loans for unemployed on benefits, we put you in touch with lenders most likely to approve your loan request. Getting a payday loan without a regular pay stub has never been simpler.
Loans for Unemployed People with No Income
If you’re not receiving a traditional monthly salary and need to get some bridging cash or a personal loan, what do you do? Apply for a loan with Viva Payday Loans! With our loans for unemployed people with no income, you can take out a small loan using alternative income streams as proof of affordability. Perhaps you have investments, an allowance, or even a side hustle. To find out what your options are, apply for a loan via our platform today.
Urgent Cash Loans for Unemployed
At Viva Payday Loans, we work with lenders who make urgent cash loans for unemployed people a reality. Of course, you must be able to prove affordability of the loan, which means you must have some form of income, be a US citizen, and be at least 18 years of age. To find out what type of loan you’re eligible for, use our quick online application form.
Loans for Unemployed with No Bank Account
Many Americans avoid the regular banking system by managing their money with prepaid debit cards and cash apps. If you don’t have a regular bank account and don’t have a traditional job either, you may think it’s impossible to get a loan. Here’s the good news! At Viva Payday Loans, the lenders we work with offer loans for unemployed with no bank account. Simply use the online application and wait just 2 minutes for an outcome. That’s it! Payouts are typically done on the same day, or at most, 24 hours from the time of approval.
Unemployed Loans Bad Credit
If you don’t have a regular job and also have a poor credit history, it doesn’t mean that you can’t get a loan when you need it. If you receive an alternative form of income on a regular basis and an income vs. expenditure assessment shows that you can afford to pay the expected monthly installments of your loan, you can apply for unemployed loans bad credit right here at Viva Payday Loans.
Unemployed Loans with Poor Credit
If you’re not traditionally employed and have a less than perfect credit score, there’s good news for you. Take just a moment to complete our online application form, wait just 2 minutes for approval, and we will put you in direct contact with lenders who can offer you unemployed loans bad credit. Instead of determining the outcome of your application based on your credit score, the lenders on our panel are more interested in the current affordability of the loan to you. If you’re unemployed and with poor credit but can afford the monthly installments of a loan, apply for unemployed loans with poor credit right here at Viva Payday Loans.
Unemployed Loans No Credit Check
If you’re worried that your credit score will hold you back from getting the cash advance or personal loan, you need to see yourself through the month or pay for an unexpected expense; don’t worry! At Viva Payday Loans, our panel of lenders will determine the outcome of your loan based on your income vs. expenses. There’s no need to carry out a credit check, and in fact, we will connect with lenders who don’t! Apply for unemployed loans no credit check by completing our quick and easy online application form.
Unemployed Loans Near Me
Where can I find unemployed loans near me? At Viva Payday Loans, we offer unemployed loans online to those who don’t have a traditional job, but acquire a regular form of alternative income. If you can prove that you receive the minimum monthly amount of $1,000 per month and can afford to pay the expected monthly installments of your requested loan, you’re eligible to apply for an unemployed loan through us!
Unemployed Loans Same Day Payout
Wait days for a loan payout can be excruciating, especially if you need the cash in a hurry. At Viva Payday Loans, we understand that financial emergencies crop up and if you’re applying for an online loan, the chances are that you need the money sooner than later. Because of that, we connect each of our loan applicants directly with lenders most likely to approve their loan. If you’re looking for unemployed loans same day payout, we’ll put you in touch with just the right lenders. Our same day online loans are typically paid out within 60 minutes, or at the very latest, without 24 hours of approval.
Unemployed Student Loans Without Cosigner
If you’re a student without a regular job and don’t have a relative or friend in good financial standing willing to co-sign the loan with you, you may think that you don’t stand a chance of getting a loan. In reality, that’s just not true. Our panel of lenders will determine the eligibility of your loan request based on your income and affordability. If you receive a regular allowance or some form of regular income, it could be just what you need to get the loan you’re after! Even more exciting is that you can get the money on the very same day that your application is approved. Apply for unemployed student loans without cosigner by completing our quick and easy online application form.
Best Loans for Bad Credit and Unemployed
If you’ve been hunting for the best loans for bad credit and unemployed, borrowers, you’ve come to the right place. At Viva Payday Loans, we work with a panel of lenders renowned for approving bad credit and unemployed loans. Credit history and traditional jobs are no longer the main determining factors in the loan application approval process. To see what type of loan you’re eligible for, complete our simple online application form and wait just 2 minutes for an outcome!
Features of Unemployed Loans When You Borrow Money
The type of unemployed loan you choose, as well as the lender you borrow it from, will determine the finer details of your loan. However, many unemployed loans share similar features – these are listed below.
The concept of unemployed loans is low-amount, relatively short-term loans made available over a short period. Most lenders on our panel offer loans ranging from $100 to $5,000. You can find lenders that will offer more than this but do be careful – you don’t want to end up with a loan on your hands that you can’t repay. Also, bear in mind that higher loan amounts mean higher monthly installments and a longer repayment period. It’s really important that you only borrow what you need.
Most lenders that offer unemployment loans allow you to select a term (how long you’ll be repaying your loan) ranging from 60 days to 12 months. At Viva Payday Loans, you can repay your loan over 2 to 24 months. A smaller loan amount generally equates to a shorter term.
It’s advisable to choose the shortest loan term that you’ll be able to pay off comfortably – this means there’s less likelihood of unexpected financial burdens down the line and that you’ll get a lower overall interest charged on the loan. Interest is charged monthly, which usually means the longer your loan term, the more interest you’ll end up paying.
Be sure to only agree to a loan term and repayment schedule that suits your finances. The majority of lenders will automatically deduct your installment from your bank account on the day your income makes its way into your account. This is a plus for you since you don’t need to worry about missing a payment or manually paying it, and because the payment is taken on your “payday,” you know exactly how much money you have to last you for the remainder of the month.
You can also set customized repayment dates if these better suit you by contacting the lender. You can choose a weekly, semi-monthly, or monthly repayment schedule depending on the agreed loan term and amount.
Fees & Possible Hidden Charges
Always read the fine print of your loan.
When it comes to charges, our lenders offer interest rates of 5.99% to 35.99%.
Other additional charges could include:
- An early settlement penalty
- A late payment penalty
- Collection fees if the lender hires a debt collector to recover funds
You will, of course, always need to pay interest on your loan. Interest rates for unemployed loans are higher than secured loans, for example. This is because unemployed loans have higher interest rates since the lender is taking on more risk and because these types of loans are designed to be repaid fairly quickly.
Certain factors can help you get a lower interest rate on your unemployed loans, such as a higher loan amount and longer term. You should also consider putting up collateral such as your vehicle, improving your credit score, or co-signing the loan with a guarantor.
A lender’s reputation is one of the most important factors to consider before taking out an unemployment loan. Viva Payday Loan’s panel of lenders ticks all the right boxes when it comes to reputation, good service, and transparency. With this said, it’s best practice to perform due diligence as a borrower to be absolutely sure you’re borrowing from a credible lender.
Often the best way to research a lender’s reputation is to read their online reviews. A quick search should bring up customer testimonials that you can use to determine the lender’s credibility and track record for customer service. You can also look at their website and social media to get a feel of a lender or call them to speak to them directly.
Fast Payout of Cash Loans for Unemployed People
A big advantage of no job loans for the unemployed is their quick payout time frame. Once you’ve submitted your (usually brief) application, you’ll be given an outcome in a matter of minutes.
If approved, most unemployment loan providers disburse your loan in just a few hours. For the overwhelming majority of lenders, this means you’ll get your cash on the next business day, although it can sometimes take a bit longer than this.
Examples of Unemployed Loans – Loans with No Job
Here’s a brief example of loans for the unemployed at Viva Payday Loans.
|Lender||Loan Amount||Loan Term||Disbursement||Requirements|
|OppLoans||$500 to $5,000||6 months to 3 years||1 business day||Reside in an eligible state, bank account, regular source of income, receive income via direct debit|
|CashNet USA||$500 to $1,000||8 to 31 days||Same day if applied for before 10.30am||Social security or disability relief, some form of acceptable income, you live in Illinois, New Mexico, Nevada or Rhode Island|
Advantages & Disadvantages of Getting Loans with No Job at Viva Payday Loans
Applying for a loan with no job is beneficial at Viva Payday Loans. Take a look at the advantages and disadvantages below.
Advantages of Personal Loans for Unemployed
Getting an unemployed loan has never been simpler. Without reams of paperwork or even needing to leave the house, you can borrow money online with Viva Payday Loans. You’re able to find a loan that suits your exact needs with our user-friendly platform and easy-to-follow process at any time of the day or night!
Quick Disbursement of Emergency Loans for Unemployed
When you need cash, you don’t need it next week or in 3-5 business days’ time. You need it now! Personal loans for unemployed borrowers can be received much quicker than traditional bank loans, with some lenders offering same day cash loans for unemployed people.
When you use Viva Payday Loans, you’re able to receive approval in 2 minutes and disbursement by the next business day – maybe even sooner.
Manageable Loan Amounts
Our lender panel consists of reputable lenders that aim to offer genuinely affordable unemployment loans. Your loan installments are designed with affordability in mind and you won’t be hit by hidden fees.
With this said, it’s still important for borrowers to check the cost of their installments and compare this to their income. Be sure to leave enough funds each month to cover all your financial obligations and to have some to spare for life’s unexpected costs.
Disadvantages of Loans for Unemployed Individuals
Higher Interest Rates on Same Day Cash Loans for the Unemployed
Loans for unemployed people carry greater risks for the lender. Without stable employment, a borrower is less likely to be able to repay a loan than someone who is employed and receiving monthly paychecks from their employer. This is why unemployment loans typically carry higher interest rates than other forms of loans.
All lenders have their own terms and fees, and therefore interest rates vary. Most lenders on our panel at Viva Payday Loans charge a maximum APR of %35.99, with many of our loans carrying an APR much lower than this.
Remember that while interest rates for unemployed loans are higher than other loans, they are intended to be short-term agreements for small amounts. 24-hour loans for unemployed people can really help out borrowers who need to meet financial obligations and are ineligible for traditional bank loans.
Eligibility Criteria for Loans with No Job
At Viva Payday Loans, we don’t require much from you to be eligible for an unemployment loan. The only things you need to prove are that you are:
- 1. Over 18 years old
- 2. Receiving a regular monthly income of $1,000 or more
- 3. Living at a permanent address
- 4. Hold a valid checking or savings account with direct deposit
Do you meet these criteria? Then go ahead and apply for a loan with VivaPaydayLoans.com!
How to Apply for No Job Loans for the Unemployed
The process is simple. Here’s all you need to do:
Use our online form to choose how much you want to borrow and for how long you want to repay the loan. Viva Payday Loans range from up to $100 to $5,000 and can be repaid over 2 to 24 months. Only select a loan amount that you are sure you can comfortably repay and a term that is suited to your current and foreseeable future financial obligations. Once you’ve settled on the amount, fill out the quick and fast online application form.
After determining your loan amount and term and completing the form, you may need to provide us with some additional information, including:
- An official form of ID
- Proof of address
- Proof of income (social security payments, retirement payments, payslips, or bank statements)
All information you provide us will remain completely secure and confidential and will never be shared outside of your lender and us.
After you’ve completed and submitted our form, you’ll receive a decision on your loan approval within 2 minutes. The majority of potential borrowers are connected with one of our independent lenders without issue, regardless of their credit history. If successfully connected, you can receive your funds in just one business day.
How Much Can I Borrow With an Unemployed Loan?
At Viva Payday Loans, you can borrow between $100 and $5000.
How Long Will My Loan Last?
You can make repayments over 2 to 24 months – just select your preferred loan term when filling out our online form.
How Long Does Viva Payday Loans Take to Approve a Loan Application?
Not long at all. You’ll know whether you’ve been approved for your loan in just 2 minutes!
How Quickly Will I Receive My Loan?
Viva Payday Loans provides almost instant loans for unemployed people. You’ll receive your funds via an electronic transfer to your bank account.
How Will I Receive My Loan?
You’ll receive your funds via an electronic transfer to your bank account.
Will I Be Contacted About My Loan?
You won’t necessarily be contacted directly, but some lenders may want to get in touch with you to go over some details about your loan or request documentation. This could be via phone, email, or text.
Do You Lend in Every State?
No, there are some states we do not operate in. These are Arkansas, Connecticut, New Hampshire, New York, Montana, South Dakota, Vermont, West Virginia, Indiana, and Minnesota.
Will My Credit Score Be Checked?
This depends on the exact type of loan you choose, but our lenders will never conduct a credit check without your permission.
Is Viva Payday Loans Free to Use?
Yes! Our service to you is free.
How Do I Make the Repayments for My Loan?
Your loan installments for a loan using Viva Payday Loans will be debited from your account automatically on your payday or a day of your choosing. This is very convenient for you as it means you don’t need to do anything to pay your installments.
However, if you don’t have enough funds in your account, you may incur fees both through the lender and your bank when the payment isn’t honored, so you must always know you have enough money to make your repayments.
Do I Need a Good Credit Score?
No. There are plenty of unemployed loans out there that are designed to accommodate borrowers with a poor credit score or even no credit score at all. However, if you do have a good credit score, you may be able to get a higher loan amount with a lower interest rate.
Will An Unemployed Loan Hurt My Credit Score?
Usually, your credit score is unaffected or even benefits from an unemployed loan – this is as long as you keep up with the payments and pay the loan in full. If you are rejected for several loans or apply for several unemployed loans at once, this can also negatively impact your credit score.
Will My Unemployed Loan and the My Personal Data be Kept Confidential?
As long as you apply for a loan through a reputable lender such as the lenders on our panel at Viva Payday Loans, your information will be kept secure and confidential. A simple way to check if a website is secured or not is to look for the little padlock icon in the address bar – if you see it, this means that your data is kept securely.