Cash assistance to unemployed people

11 February 2013

When you are out of a job, you face a number of financial problems. There is no proper source of income, and expenses keep mounting. Friends do help you sometimes, but they have a limit.

You try frantically to come out of the situation, but fail. In today’s tight job market getting a job is not so easy.

You get unemployment benefits from the Government, but that doesn’t cover up all your expenses. The situation has left you depressed. You have tried loan market too, but big lenders don’t want to deal with you because they know that you won’t be able to repay the loan. Their anxiety is natural.

But you can get a sigh of release now. A few lenders have launched a new loan facility by the name of loans for unemployed. Apply for this loan; you will get money even if you have no job.

You will be only required to provide a few of your personal details including the information about the means of repayment that you think you have. If the lender is satisfied, he will grant your loan.

You won’t require security or a guarantor. That is not the criteria here. It’s an unsecured loan. Lenders never demand security or guarantor. They are only apprehensive about your repayment ability.

Since the loan is given without security or guarantor, the lender is exposed to risk which he compensates by charging a little higher interest. For this reason, you should apply for an amount which you need for immediate requirements.

It will assist you to keep the charge of loan in check. Once you take the loan, serve your needs and repay the loan as schedule, your financial condition improves actually.

Lenders mostly don’t offer such loans directly. There are loan matching service providers in the market. You will be required to apply to a service provider with your details.

If the service provider is satisfied with your application, he will forward it to a lender who offers this loan. If the lender thinks that you have the repaying capability, he will give money directly in your bank account.

Summary:

Most of the lenders avoid lending to unemployed borrowers. But what about the cash needs faced by such people? Considering this fact lenders now offer loans for unemployed. However like any other loan you should borrow these loans only as per your needs.

Please note that payday loans are meant to be used for short term financial emergencies and are not designed to provide long term solutions

The operator of this website is not a lender and does not make credit decisions. The information you provide will be used in securing you a payday loan with one of our carefully selected panel of leading Payday Loan Lenders in USA. The personal, financial and employment information that we collect is stored electronically during the duration of the application and is removed from our system upon acceptance from the lender.

We expect you to repay your loan on the date agreed, so if you do not think you are in a position to make your repayment, please do not apply with us in the first place. It is not worth risking your credit rating for such a small amount.

Do not pay any lender or broker an upfront fee to process your loan application.