Do you need to borrow without having to prove your permanent income? You may be surprised, but there are companies on the market that also provide loans to the unemployed, or people who are unable to prove their fixed monthly income. Which specific companies have loans for the unemployed online in their portfolio and under what conditions do they provide these loans?
Only non-banking companies provide loans to the unemployed online
If you are unemployed or unable to prove your fixed monthly income, you will surely know that every single bank will reject any loan application. Although there are so-called. American mortgages (information), which are included in a diverse range of financial products from a number of banking entities, but they require real estate guarantees, which is not acceptable to many. Indeed, many people without income prefer smaller loans, which are provided without the need for property or third parties. Such loans for unemployed online can only be obtained in selected non-banking companies, which in most cases provide them up to several hundred, up to a few thousand crowns.
Loans for unemployed online up to 350 dollars from Loan
The non-banking company has in its portfolio of services also loans for unemployed online which you can get through very easily and most importantly quickly. It only takes a few minutes to complete the application, and the company will require you to provide only a few basic details to verify your identity. Lender thus simply provides loans ranging from USD 25 to USD 350, with a loan maturity of up to 31 days. Its disadvantage is higher APR and higher interest rate, which most clients expect in advance.
Loans for unemployed online are also provided by Lite lending company
Lite lending company is another non-banking entity that also has loans for online unemployed in its portfolio of services. It provides express mini loans of up to USD 350 with a repayment period of 30 days which you can extend for a fee of 15 or 30 days. You can get them just as easily as in the case of Borrowing Machine, and you can apply for the loan either online or via SMS. If the loan is approved, the money will accrue to your account within 24 hours.
We must not forget, however, that even in this case, loans to unemployed people are only provided at relatively high interest rates and APRCs.
Loans for unemployed online up to USD 3,000
Lite lending company has been providing its clients with online loans for up to 3,000 dollars. In this case, the maturity period is significantly more favorable, as the customer has the possibility to spread the installments for up to 42 months. However, Lite lending company requires at least some form of income from its clients, which may not be in the form of working on TPP.
Loan benefits for unemployed online
- Provided without having to provide constant income
- Also available to clients who have an entry in the debtors register
- Simple request and express verification process, which in most cases only takes a few minutes
Disadvantages of Loan for Unemployed Online
- High interest rate and high APRC compared to ordinary bank and non-bank loans
- Shorter due date
- High fees for extending the payment schedule
- High penalties for late loan repayments