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Unemployed, Need Money Today? Find Payday Loans On Unemployment Checks

by Financier on Saturday, July 21, 2012

I Need A Loan But I Have No Job

If you are unemployed, and you need money today, where can you get a loan with no job? For people who are not working and unable to access traditional loan products, trying to find lenders who can offer unemployment loans with bad credit is not easy but you don't always have to depend on the banks or large financial institutions for borrowing money without an income. Not everyone needs a large personal loan from the bank and if they just want a 1000 dollar loan with no income verification to help themselves get back on their fee, there are payday loan lenders that give short term payday loans for people on unemployment benefits.

Unemployment Payday Loans With Benefits

A payday lender generally provides small personal loans to people who need a cash advance ahead of their payday. It is secured by handing over to the lender a post-dated check which acts as a collateral with which the lender can cash it out by way of receiving back the money. If you are unemployed and need a loan today, you can now apply for unemployment payday loans if you are on benefits.

This service is essentially the same to those online payday loans which allow you to borrow 1000 dollars until payday. The criteria is that you must be paid by direct deposit for whatever benefits you are getting from the government or any other welfare groups. Guaranteed payday loans for the unemployed range between 100 dollars to 500 dollars but other factors can also influence the amount of money you can borrow, such as the state of residence and the size of your allowance. There is also no guarantee that you can really get a fast loan with no job even though you are collecting unemployment benefits because unemployment payday lenders that are more selective about their customers may fear that these benefits may be cut off any time, exposing them to higher business risks from loan defaulters.

Loans With No Job Verification

The trade-off for using a payday loan for people with benefits is the fact that online payday loans cost a lof of money and that's why they are vilified as high risk, high interest personal loans. Annualized rates of interest on these short term unsecured loans can go as higher as 400% and up. If you decide to get a loan with your benefits, the main consideration is to ensure that you have the financial ability to service the repayment. If you can't afford the interest rates on a 1000 dollar payday loan with no job verification, skip these altogether. 

Payday loans are not always suitable for everyone. If you want to apply for a loan today, using benefits as your source of verifiable income, please visit our lender's website for more details.

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