Can the unemployed get a payday loan?
Since most banks and financial companies issue payday loans to borrowers with official employment, it is somewhat difficult to get such a loan for the unemployed. However, Bankchart website analysts have found loan offers for the unemployed. All of them are located on this page. We offer their brief description so that potential borrowers can take them into account.
So, the main types of unemployment payday loans
- Lenders may consider unemployment benefits as a form of income. Therefore, when applying for a loan, be sure to provide the most complete information about receiving unemployment benefits.
- Loans of guarantors. Another way to get a loan for an unemployed person is to enlist the support of a guarantor with a good credit history and official income. Thanks to the guarantor, the chances of a loan and better conditions increase
- Credit unions are also ready to provide a payday loan to a person who is temporarily unemployed
- Short-term loans from specialized lenders. Some financial companies have developed special programs for the unemployed and borrowers with irregular incomes. Therefore, the chances of getting a loan from such lenders are quite high. Among the disadvantages are possible high interest rates.
As an alternative, you can also take out a personal loan. Your possible expenses:
Personal loan calculations for 1 year (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 5,000 | 6.65% | 180 |
| 5,000 | 7.65% | 207 |
| 5,000 | 8.65% | 234 |
| 10,000 | 8.75% | 474 |
| 10,000 | 9.75% | 528 |
| 10,000 | 10.75% | 582 |
| 20,000 | 10.85% | 1,175 |
| 20,000 | 11.85% | 1,284 |
| 20,000 | 12.85% | 1,392 |
| 25,000 | 12.95% | 1,754 |
| 25,000 | 13.95% | 1,889 |
| 25,000 | 14.95% | 2,024 |
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Details of companies offering the financial services:
Cash Compare
Head office’s address: London
Web-site: https://www.cashcompare.co.uk/
Cashfloat
Head office’s address: Office 8. 2A Highfield Avenue London, NW11 9ET
Contact center: 020-3757-1933
Web-site: https://www.cashfloat.co.uk/
Evolution Money
Head office’s address: 9 Portland Street, Manchester
Contact center: 0161-814-9158
Web-site: https://enquiry.clarity-uk.com/
Fast Loan UK
Head office’s address: Shire Park, 2 Falcon Gate, Welwyn Garden City AL7 1TW
Web-site: https://www.fastloanuk.co.uk/
Got Capital
Head office’s address: 131 Finsbury Pavement, London
Contact center: +44(0)203 7500096
Web-site: https://gotcapital.co.uk/
Lending Stream
Head office’s address: Lending Stream, PO Box 10756, LEICESTER, LE3 4GX
Web-site: https://www.lendingstream.co.uk
Payday UK
Head office’s address: Payday Loans Limited, The Charter Building, Charter Place
Contact center: 0800-302-9409
Web-site: https://www.paydayuk.co.uk/
Salad Money
Head office’s address: 49 Greek St, London W1D 4EG
Contact center: +44-20-3092-0896
Web-site: https://www.saladmoney.co.uk
Solution Loans
Head office’s address: Hamilton House, 87-89 Bell St, Reigate RH2 7AN
Phone: +44 1737-886-202
Web-site: https://www.solution-loans.co.uk/
Sunny
Head office’s address: London
Web-site: https://sunny.co.uk/