Can I apply for personal loans in unemployment?

Loan for the unemployed

One of the most asked questions by unemployed people is, can I apply for personal loans while unemployed? Obtaining financing of money in a situation of unemployment is not something very common that on many occasions can happen because, one of the requirements that many of these entities ask is to have a job.

Nowadays, getting a loan either through a bank or a private company, are actions that are taken to cover or solve some debts either due to a fine, an emergency, or simply to finance an item that he requests I wanted to acquire.

It should be known that this type of financing in a situation of unemployment normally becomes a request which must be studied by the company, whether public or private, since for many entities it is a fundamental requirement that the client has a payroll what guarantees to the same the return of the money in question.

Current unemployment rate in United States

It is important to note that at this time the current unemployment percentage in the United States has already exceeded the last estimated percentage that was made in December 2019 ; loan applications increasing in their wake. For example, according to data carried out by the Active Population Survey (EPA), 2019 closed with 13.7% of the population unemployed, it is predicted that this figure will be exceeded by 8.7% more unemployed people, this gives us a total percentage of 21.7% in the second quarter of this year.

The Bank of United States approximated a total of 4.6 million unemployed persons distributed as follows:

Workers affected by ERTE 3,100,000
Self-employed 900,000
Temporary workers 600,000
Total unemployed workers: 4,600,000 people
Number of unemployed people

In turn, it is important to note that the number of people previously named are those who have made a request for benefit to the ERTE so far in 2020, but it is not the exact number of individuals who have managed to collect it. Once the request has been made to this administration, the entity must carry out various procedures such as studying one by one that the requirements received meet the necessary requirements so that the provision can be made; This procedure usually takes up to 15 days or more.

Credits for the unemployed

On some occasions, these credits will be made with certain conditions, they can go from the days of term that will have to pay or also, in the amount of money that the applicant in question needs, sometimes, you can request only a maximum amount of money established by the entity.

However, there are private companies that, if they require an employment contract or, failing that, a stable source of money, such as: if the person is collecting unemployment benefit through the ERTE, it can be considered a justification of appropriate income to apply for a personal loan.

What do I need to apply for a personal loan without a job?

Next, we will present some requirements that several companies have in common , these must be presented at the time of requesting a loan if you are unemployed in any private loan entity, although some of them may vary, remember to choose the lender that best suits you adapt to your needs:

  • Being over 18 years
  • Have DNI / NIE
  • Have a bank account
  • Documentation or endorsement
  • Have an email
  • Reside in United States
  • Have a mobile phone number
  • Being solvent, that is, not being in any registry of defaulters (it will depend on the entity).
  • Present certain documents (these may be some of the utility bills, it may vary)

Can I apply for personal loans if I am delinquent and unemployed?

Yes, there are many entities that do not require that the plaintiff strictly have an employment contract , even, even belonging to Credit Checker or being delinquent, there are entities that can grant you a loan if you are unemployed, as is the case with Prestamer .

Check here the lenders that grant credits with Credit Checker .

Although also, for most private loan entities, the basic requirements can vary between the minimum age allowed, the amount (if it is your first time, the maximum amount to request a loan may vary), the APR percentage or also the days of terms that will be assigned to you to repay the loan.

Also, there are various entities such as Dineocredito , Quebueno or Freezl , these only require that the interested party fill out a form, this must be completed with the person's data, as well as the loan data; These are procedures that will allow the company to verify the identity of the person concerned. It should be noted that the approval of the loan will often depend on the amount of money required.

Why private lenders?

One of the most relevant advantages of private lenders is that you can request your loan with just a simple click, that is, through the Internet. On many occasions you can contact an agent directly if you want to make a more specific request or question, most of these entities will provide you with the answer immediately.

But can I apply for personal loans if I am unemployed?

In conclusion, if you can request a loan while unemployed , you just have to inquire a little about the benefits and requirements that all entities will offer you. Also, it is important to note that many of these companies will not ask as a strict requirement to have a job or job, but it will be necessary for the interested party to justify a reliable source of income .

We hope that this article will help you to get the entity you need if at any time you need to request a loan or if you become unemployed . Also, do not forget that if you are a new client of one of these companies, your maximum amount may not be what you need at that time. We advise you to compare the offer of loans without payroll , that there you can find that loan company that best suits your needs.

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