The status of the unemployed today applies not only to people without sources of income, but also to persons who work without formal registration. The need to take out a loan can be a serious problem for an unemployed person.
Loan for unemployed
The need for money can suddenly arise when:
- withhold salaries or advances;
- it was necessary to pay for urgent repair of household appliances;
- need repair of shoes or clothing;
- need to pay for medical services;
- there is a need to pay for university education or study materials;
- need money to pay for rent or utilities, etc.
The problem with obtaining a cash loan for the unemployed is the inability to provide income statements. So the question often arises: where to get credit for the unemployed?
Most often, they take a few days to solve any current problem that requires financing. The reasons why people ask for money in the non-banking sector are also different:
- there is no time for a long process of bank verification of documents;
- unfavorable lending conditions by banks;
- high interest rates on loans;
- non-transparent terms of interest accrual for the use of the loan;
- lack of ability to repay the money taken online;
- the bank does not issue a loan because of age restrictions or insufficient financial capacity.
Why the unemployed are denied by banks
The reasons for refusing a bank loan for an unemployed person are:
- age requirement less than 20 years or older 65;
- low income;
- inability to confirm income;
- hiding information or providing false information in the questionnaire;
- negative credit history.
In some banks, the loan can be obtained without a certificate of income on the collateral of the property owned by the potential borrower or in the presence of guarantors with a high level of security. The Bank may also consider granting funds at high interest rates. Therefore, the share of financing of the unemployed in the non-banking sector is steadily increasing .
When completing a bank transaction and completing a loan application form, you will need a passport, code and income statement for the last six months. In addition, the questionnaire also provides information about the property, family composition and other information. Absence of these data, inability to confirm, giving false information, as well as insufficient level of income may cause the bank to refuse to issue a loan.
What financial products exist for the unemployed
There are not many banking products for the unemployed. One of them is deposit security. In this case, interest on the use of funds is paid off by the deposit. It is also possible to repay the body of the loan through deposit funds. The next banking product is a loan. Most banks do not provide this type of service.
Even if you do not need the income statement on the terms of the bank, the banking institution will in any case check the solvency of the borrower. This is why microcredit is the most affordable way of getting money for the unemployed.
No credit for real estate or car can be taken without verifying the source of income. These types of financing are considered products for high-income people.
Lending to the unemployed by non-banking organizations
In the financial services market, apart from banks, there are financial institutions providing various types of loans. Lender provides microfinance services to the unemployed on favorable terms. You do not need an income statement to get a loan. Lender can issue a loan to unemployed people online for a period of 5 to 30 days for any purpose.
Most often, unemployed people make loans for:
- purchase of small appliances;
- various household expenses;
- urgent repair of equipment;
- payment for medical services.
The age requirement is from 18 to 65 years. It is possible to issue a loan for pensioners with the same minimum set of documents. The company does not limit the range of potential clients and provides loans to different categories of population:
- young families;
- the employed;
- low-income people;
The minimum loan amount is 300 USD. If you are a regular customer of our company, the maximum amount can be increased up to 10000 USD. To receive it it is important that you have no outstanding debts at the time of the new application. The transfer of money to a bank card occurs immediately after its confirmation. If you are applying for a loan for the first time , the maximum possible amount for obtaining a loan will be 3000 USD.
How To Take An Unemployed Credit
To apply for a loan you need to register on the company’s website, log in to your account and apply for a loan. You will need:
- identity document (passport);
- identification code;
- bank card number to which the money will be credited;
- mobile phone number.
The amount and timing of repayment can be adjusted independently when applying. Advantages of financial service from the company:
- The service is available online 24/7 .
- The application will be reviewed within 20 minutes if you first contacted the company. The regular client will receive the confirmation of the application within minutes after its creation.
- Minimum interest rates. Payment for the use of funds is only 0% for new users and 1.6% per day for regular users.
- The loan is issued for a period of 1 month. With the timely repayment of the loan it is possible to extend the repayment period.
- Transparent design conditions.
- You can make a loan at any time convenient for you from any device. To do this, just go to your office on the site and apply.
- The design conditions are clear and simple.
- You can repay the loan in any convenient way.
lender has a state license to conduct financial transactions, which guarantees absolute legality and security of the transaction. The company provides a loan without collateral for a period of 5 to 30 days. Among the company’s core values are:
- transparency of all operations;
- openness to any means of interaction.
How to repay a loan
The debt repayment period is from 5 to 30 calendar days. In case of unforeseen circumstances, the client may take the opportunity to repay the loan with a delay. It is enough that interest on the use of funds is paid in a timely manner and then you can repay the loan with a delay.
You can pay for regular payments using a bank card, in your office, at a bank branch or through a self-service terminal. The main requirement is the timely repayment of the amounts in accordance with the financial obligations.
Can I get an undocumented loan?
Without the identity documents, it is impossible to execute a transaction. For your registration in any financial institution, you need a passport and TIN. If you have any questions, you can call and receive detailed answers to any questions regarding the loan.
Why it’s beneficial to collaborate
The Microfinance Organization has several advantages over the banking sector:
- a passport and an identification code are sufficient for the loan;
- loans are issued to persons from 18 to 65 years;
- no income statement required;
- money is transferred to the card of any bank;
- the loan is granted for a period of 5 to 30 days;
- all transactions are conducted without hidden fees and commissions;
- loan clearance in just 20 minutes;
- the usage rate is just 0% for new users and 1.6% per day for regular users.
Lender’s short-term loans are economically feasible due to low interest rates and flexible lending conditions. You can borrow the necessary funds quickly and return them at any time in a convenient way for you.