Loans for Unemployed People
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Rates from 12.9% APR to 1625.5% APR.
Representative Example: £1,000 borrowed for 18 months. Repayment of 17 Months at £87.22 and final repayment of £87.70 The total amount repayable is £1570.44. Interest amounts to £570.44, an annual interest rate of 59.97%. Representative APR: 79.5% (variable)
Unemployed Loans
Money can be one of the biggest stresses in a person’s life, regardless of one’s employment status. However, when you’re unemployed, it can be significantly more difficult to get a loan when you need one. Emergencies don’t discriminate between those who have employment income and those who do not, so this can make life especially difficult for those on the latter part of that spectrum.
While many lenders will require proof of income before they will approve a loan application, there are lenders who will consider other forms of income besides employment. If you can show that you receive income as a freelancer, from benefits, or another source, you may still be eligible to receive those emergency funds.
Finding the lenders who will accept those alternate forms of income can be a pain, though, so Now Loan has made it significantly easier. After asking you a few questions about your finances, your situation, and what you need to use the money for, NowLoan will provide you with a list of potential lenders.
Since you’ll select that your income comes from a source outside of employment, that list will be comprised of lenders who can provide “unemployed loans” specifically. This takes a huge weight off of your shoulders, allowing you to find a reliable lender without all of the guesswork.
Get Loan NowRepresentative Example: If you borrow £2,600.00 over 36 months at a Representative rate of 49.7% APR (variable) and an annual interest rate of 41.00% (variable), you would pay 36 monthly instalments of £126.61. The total charge for credit will be £1,957.89 and the total amount payable will be £4,557.89.