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Representative example: Borrowing: £1,200 Interest: 0.34% per day for up to 75 days (124% per annum, variable) Representative: 49.7% APR (variable)
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.