Affordable loan deals

Unemployed with Bad credit can apply

Same day fund disbursement

Funds available 24x7

Unemployed Loans - Small Solutions Can Nullify Big Problems

Unemployment should never be a dominating thing in your life, but only a phase will pass with some smart planning. The strongest part of that planning should be an assured financial back-up. Whether it is your saving or additional support, you should have support to manage expenses. The unemployed loans can help when your sources go empty.

You may have plenty of problems that occur after the sudden job loss, but our loan deals can bring solutions for every financial issue. We have arranged loan deals accordingly, like poor credit unemployed loans or payday loans for unemployed. It means you do not have to worry about your out of work situation because our helping hand is always with you.

Why loans for unemployed?

The most precise answer is, to handle your money crisis after job loss, you need unemployed loans. Besides this reason, the benefits of this loan product are sufficient to make you apply. The job loss is duration of uncertainty and may be you have your savings but how long can they last? As an alternative, friends and family can also become last minute rescuers. However, both of these may not stay as a strong support for long. In that case, why not manage things on your own?

Instant money – It is not an exaggeration to call these loans instant loans, as they are online. Procedures from application to approval and disbursement happen only online. No documentation, no physical verification, no filing, no faxing, no papers, without bulky files of papers. Everything happens on either your laptop or mobile because it is friendly to all devices.

The choice of tenure – We offer you varied tenures. 3 months, 6 months, 9 months, 12 months, 18 months, 24 months. You qualify according to your repayment capacity, which can be proved through salary slip from last employer. Bank statements are also important and best is if you can show us any additional income but it is certainly not compulsory.

Bad and fair credit scores are accepted – Without job, it is not easy to manage expenses and pay bills on time. The result is drop in credit score but loans for the unemployed with a bad credit situation are available. Also, the loans for the fair credit people are easy to reach. One condition of strong repaying capacity can bring you approval for whatever financial purpose.

Easy choice for people on benefits – Normally, it isn't easy to borrow money when you live on government help. The traditional lenders need a strong income background and do not consider such support as financial stability. But you can get funds in such conditions despite the bad credit. The unemployed loans on benefits with bad credit situation are available 24x7, 365 days.

Payment holiday to fight corona consequences – With lost jobs and derailed personal finances, it can be a daunting task to pay the instalments, and you may miss the regular repayments. It means you need some time to revive and then again pay the instalments financially. Payment holiday gives you that time, and it is good for you that this facility accompanies unemployment loans.

Varieties of Short Term Loans for Unemployed

We specialise in a wide range of personalised deals on the short term loans for unemployed at doorstep in UK. Some of these are explained here:

Unsecured loans: Our deals also consist of unsecured funding where no collateral is required and availing the funds become lot easier. The unemployed people can find these funding sources very useful by considering the no risk factor. It is convenient to borrow money without putting any of your assets in risk.

Doorstep Loans: Under unemployed loans, the funding access is given at the home of the borrowers. In fact, ExtraMile Finance brings a specialised deal on them, which is available as the doorstep loans to your door for unemployed people. Like any other thing, you can get the home delivery of money. It is a great lending product of the new age, digitised industry.

Payday Loans: Sometimes, the smallest of financial problems may disturb your entire budget. For jobless borrowers, such scenarios are quite common. Therefore, we have brought payday loans for unemployed people through which they can solve out little financial issues. Since no full-time job, they can ensure timely repayment through their side-income sources or part-time earnings.

How to apply for unemployed loans with bad credit?

It has been found that most of the unemployed people also have the issue of poor credit score. It is because they do lack the proper funding to their bank account and thus, delayed the payments to make. It impacts severely to their credit record and simultaneously, they face denial on a loan application from the traditional lenders.

If you are among those struggling to manage expenses, you can apply with the following terms and conditions.

  • ok icon white1Your name should be on the electoral roll with the current address
  • ok icon white1Any sort of income source, including benefits, is necessary to show
  • ok icon white1Make sure the recent payment history of 6 months is spotless

We give a choice to the applicants if they want to bring a guarantor. It is only and always optional and not a part of our terms and conditions. The borrower can bring the guarantor to increase their creditworthiness.

Can I obtain Loans for Unemployed when I have No Guarantor?

Yes, indeed. We are the direct lending institution for every situation. Obligations are only the formalities here, and we do not impose them on our prospective borrowers. If you do not have the guarantor, then we do not have any problem at all.

Our financial experts have kept exclusive deals that can answer your queries as you have put here: can I expect loans for unemployed when I have no guarantor to back me?

Thus, if no guarantor is there, then how would you get the loan approval? We approve your loan application on these grounds:

  • ok icon white1Your part-time income should be strong enough to ensure the repayments from own capacity;
  • ok icon white1You may have a fair or good credit score to increase your creditworthiness to impress us;
  • ok icon white1If you want amount from above £10000, then you can pledge the collateral of equal value to seek guaranteed approval;
  • ok icon white1Your government benefits can also fill the gap that occurred with no guarantor at present. You can make the repayment from that availed funding assistance.

Thus, you have other options to avail loan benefits other than the guarantor. Don’t wait; apply soon to save your finances.

Does Extramile Finance offer unemployed loans for startups?

Yes, we do offer funds for start-ups. Financial opportunities do not come all of a sudden. You have to grab them with both hands. However, we have brought a chance of availing start-up loans for unemployed people.

It is very unlike other lending institutions, as they do not favour borrowers with no income. Extramile Finance, on the other hand, is always ready to offer you sufficient funds so that you can open your start-up business. However, these are short-term loans and offer only a small amount to borrow. At the same time, you have a better chance of loan approval.

With us, you have the following benefits to avail for your new business:-

An initial capital is important
We want to see a satisfying amount of initial capital that you have to start the business. It is proof for us that you can save and gather funds. In turn, it is a guarantee that our repayments will come on time.

Borrow on your business plan
Are you confused about how much to borrow? Do not worry about this because we can offer you the amount according to your business plan. However, you make sure that your plan should be precise and valuable for future growth.

Flexible repayment tenures
We are the modern-age lender and ready to offer flexible repayment tenures. While applying for unemployed start-up loans, you can choose your repayment term according to your affordability and capacity to repay the loan.

Longer loan term
Unlike personal loans for unemployed people, the loan term in these start-up loans is an extended one. It means you can borrow up to a more extended period, with manageable monthly instalment and lower interest rate. If you have a blemished credit report, then this facility offers the best chance of improving it.

An Important Note: ExtramileFinance suggests its borrowers not to borrow more than their funding need and capacity to repay. Any missing repayment can hurt the credit record.

The Amount Limit to Borrow

The purpose may cause differences in the maximum limit of the loan amount. The minimum, although, is the same for both personal and business loans. We do not go below £1000, but on the last limit, we can go to a promising number according to the creditworthiness of the applicant.

Personal Loans for unemployed:As we mentioned, the least limit is Pound 1000, and the last limit is Pound 15,000. The financial decision is subject to individual circumstances and the repaying capacity of the applicant. In the case of personal loans, we do not ask about the purpose because the needs belong to your very individual conditions.

Business Loans for unemployed - From minimum to Pound 1000 to maximum Pound 25,000. According to your initial capital, repayment efficiency, business plan etc., we make our final decision. You must have a business idea that works currently. For example, many businesses have lost their spark after corona, while some are still 'ON'. The medical shops are more required than the latest fashion showroom during this vaccine period.

How to apply to for unemployed loans

Personalised pricing

Personalised pricing means a customisation feature that accompanies our loans as an obvious trait. The loan deal, rates and repayment plans work according to the personal circumstances of the fund seeker. The instalments for our borrowers are never unbearable for their budget due to this feature. With the aim of a smooth funding service, we direct all our loans to simpler procedures and customer-friendly deals.

Obligations – No, We Just Want You to be Satisfactory in Current Finances

Unemployed loans are short-term and such loans are never backed by guarantor or collateral. Just show us that your current situation in finances is such that you can afford the loan and then you can get a right amount. By the way, do not worry about the interest rates due to the absence of the obligation. They never go high. Personalisation feature is always there to calm down the rates.

Guaranteed approval – If you want to provide a guarantor on your choice

This denotes that you get an assured approval on the loan. We get applications from some fund seekers who can afford to provide a guarantor. If you are among them and have this backing then assured approval is sure to come. To get this, search us with the guaranteed loans for unemployed and we are sure to appear on the internet.

Fair credit score, bad credit score – we are OK for all

We do understand that after job loss your finances become prone to vicissitudes of credit score performance issues. Excellent may become good, good may become fair and fair may become bad due to pending obligations in the absence of regular income. But you are accepted in all these situations and people on benefits are also part of this.

Perhaps this time there is no need to make you recall the reason behind this. Yes! The repay capacity factor wins here too. Just perform good on this aspect and you are good to go for the loans on benefits with bad credit. By the ways, this is equally applicable in case you are self-employed after job loss.

Income that we consider in your repayment capacity

There are certain things that you can present to prove that you have the adequate efficiency to pay back the loan. Following points can help you.

Note - For people on benefits we have more things to offer in the form of our loans for bad credit with no guarantor on benefits. Apply with no stress and we are determined to clean the mess from your financial life.

ExtraMile Finance is destined to work for the well-being of its borrowers. We transform your trust into lucrative and practical financial solutions. Why not try it on your own?

FAQs

Q I am self employed, can I apply?

Of course, you can apply and avail funds even if you are self-employed. The lender just needs to see a repayment capacity, if that is there at the right place, approval comes easily. Whatever work or business you are doing, if it is giving your sufficient returns to afford the loan you have applied for, getting approval is not an issue.

Q How to apply for unemployed Loan at Doorstep

It is effortless to avail unemployed loan at the doorstep. You only need to follow these steps:

  • ok icon white1First, register at our website
  • ok icon white1Second, fill an online form with mandatory details
  • ok icon white1Third, submit the form carefully
  • ok icon white1Fourth, we send our agent to your home and do the proceedings
  • ok icon white1Fifth, you get the desired cash

Q Do Doorstep Loans for Unemployed need guarantor?

No, there is no need to bring any guarantor as you can manage the repayment on own. The borrowed amount is small, and the repayment terms are also manageable. If you try to find out the guarantor, then it will take a significant time that you cannot afford during an emergency. Thus, apply doorstep unemployed loans with no guarantor.

Q How can I pay back my Doorstep Loans for Unemployed?

For the repayment, we have the procedure of three methods. These are:-

  • ok icon white1Fortnight payment
  • ok icon white1Weekly payment
  • ok icon white1Monthly payment

You can opt for any of these repayments and call our agent to collect the amount. It means everything is done on your doorstep.

Q I receive benefits, Can I apply for unemployed loans on benefits?

Of course, you can apply and avail yourself of funds despite living on unemployment benefits because we consider them your income. The consistent flow of money from any source is worth considering for us. However, you should know that we also look at your recent financial behaviour.

Q Is there any difference b/w loans for the unemployed and loans for people on benefits?

Yes, there is a considerable difference between the unemployed loans and the loans for people on benefits.

Unemployed loans Loans for people on benefits
Unemployed loans are only for jobless people, whether they have bad credit or living on benefits. Loans for people on benefits denote to a wider term because the government benefits are of many types. Single parent help, care leaver help, benefits for the physically ill people, benefits for unemployed people etc.
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