Loans for Unemployed

Borrow Up to £50000 with Poor Credit

Representative Example

Loan of £2,000 repayable over 12 months at an interest rate of 45.3% pa (fixed). Monthly repayment of £210.33. Total amount payable £2,523.98
Warning: Late payment can cause you serious money problems. For help, go to: moneyadviceservice.org.uk

Loans for Unemployed – A Financial Support amid Uncertain Times

Unemployment is an uncertain phase with no fixed income to manage the regular expenses. You are living on part-time income, government benefits, or alternative incomes to pay the bills somehow. Moreover, to make the situation worse, you encounter another financial trouble to rely on loans for the unemployed.

Lack of Trust for the Unemployed Applicants

Loans without a regular source of income are not a common offering in the lending industry. You are facing an uncertain time to make ends meet after a lot of trouble. Thus, it is difficult for the lenders to trust your profile with a loan amount considering the repayment ability.
Apply for Unemployed Loans at FortniteMoney

At FortniteMoney, we offer loans for the unemployed in the UK at manageable interest rates focusing on affordability. You will get the approval within a few minutes of loan applications with the advanced online lending process. It is the financial assistance amid the uncertain times when the established institutions entertain only the perfect profiles.

Financial troubles along with the unemployment phase are not the ideal situation to reach out to a bank for a loan. However, you can contact us to provide the required financial support with online loans for the unemployed. We don’t ask for a perfect credit score or a 9 to 5 job to help our customers sail through difficult phases.

Why Take Loans for Unemployed from a Direct Lender?

You still have a few options left to get financial help if you are unemployed. However, payday loans for the unemployed from direct lenders remain a better option than alternatives in most cases.

Here are some reasons to reconsider your decision to trust the alternatives of loans for the unemployed.

Advantages of Loans for Unemployed over the Alternatives

Simpler loan application than traditional loans
Easy eligibility when compared to banks
98.5% loan approval rates

Lower interest rates than credit cards
Faster processing time than any other alternative
Not much documentation

How Does One Qualify for Payday Loans for Unemployed?

Lenders ask for the employment status to make sure the borrower can afford the repayment. Now, the qualification for a loan during the unemployment phase can confuse many people.

How do you qualify for payday or personal loans for the unemployed to manage the instalments?

Alternate Sources of Income

At FortniteMoney, we consider the income from some other sources to measure your affordability for a loan. It ensures the people who have the following sources of income get financial support:

Living on benefits
Part-time jobs
Some pension scheme
Rental income
Spouse income

In the end, we don’t want our borrowers to fall into a debt trap in the absence of any income to manage the repayment. Therefore, we deal only in affordable loans.

What Is a Debt Trap?

A debt trap is a situation where people take a new loan to repay the previous existing loans. It results from mindless lending and borrowing in the financial industry where lenders only want to make a profit. On the other hand, we put the financial well-being of the customers as a priority instead of focusing on the gains.

What Is the Lending Process to Get Emergency Loans for Unemployed in the UK?

The lending process to get emergency cash loans for the unemployed in the UK from our online platform is simpler than the traditional methods.

Unlike banks, we don’t serve millions of customers to put extreme stress on the limited workforce. The smaller clientele allows us to prioritise the applications to speed up the process.

Application Form

The process starts with filling the application form with the relevant details. You need to enter the loan amount based on your requirement and affordability. Therefore, use the loan calculator before you fill the application form.

The document submission will take place online without the need to visit the office. It eliminates the inconvenience to wait outside the office or standing in long queues.
Approval

The approval process will take only a few minutes because of the online verification of documents. Our representative will take the applications as a priority to assess your profile for the loan amount. Within a few hours, you will receive the approval letter in the email to get the fund disbursement.
Repayment

Our representative will remain in touch with you before and during the repayment phase. They will ask for your preferences, such as the due date, to personalise the repayment process. Also, you can ask for a term extension or repayment holiday to them if your profile is eligible for one.

What If I Want Loans for the Unemployed with Bad Credit?

We are ready to offer loans for the unemployed with bad credit. Credit history will play a critical role while determining the eligibility for a loan. Your credit report contains the list of existing debts and the repayment history to avoid lending money to people irresponsible with money.

However, many people don’t get the chance to explain bad credit since financial troubles can make you skip a few payments. We, on the other hand, follow a widened approach.

Loans Available for Bad Credit

Your affordability is more important than the previous conduct. We offer loans for the unemployed with bad credit as long as the current repayment capacity of the lender qualifies for the applied loan amount. Also, we expect the people to learn from their experience and improve themselves with positive financial habits.
Soft Enquiry on Credit History

We check the credit history of the applicants through a soft enquiry to protect their credit scores. Unlike the hard enquiries, it will not reflect on your credit history to increase the troubles for future loan applications. Another primary reason to consider unemployed loans is from a direct lender instead of an established institution.
Do I Need to Provide a Security or Guarantor?

Security or guarantor improves the chances of approval because it reduces the risk for the lenders. It is a very common practice in the lending business that may die in the future. We give you that relief if you want loans for the unemployed with bad credit and no guarantor. We don’t ask for security or guarantor to our borrowers to reduce the stress of repayment.
Focus on Affordability

We will not offer the loan to people who cannot afford the repayment. The security or guarantor doesn’t make any sense if we trust the borrowers with the loan amount. They can easily manage the instalments from the limited income in the absence of a regular job.

What Are the Top Features of Guaranteed Loans for Unemployed?

The best feature of guaranteed loans for the unemployed is indeed the easy qualification for people with an imperfect profile. However, it is not the only feature to make you fill the application form without waiting for long.

Here are the top features of our loans for unemployed borrowers to consider before making a decision.

Multipurpose Loans – You can use the loan amount for any expense or purpose without sharing it with us.
Pre-approval Available – Your profile is eligible for a loan amount to help you with the planning stage.
Flexible Repayment – The repayment includes various aspects that can change over time based on your financial condition.

Is Start-up Loans for Unemployed Available at FortniteMoney?

Yes, you can apply for a start-up loan for the unemployed at FortniteMoney, even with a bad credit score. The banks can take weeks to process your application and may very well reject it to waste time and effort. On the other hand, we will not make you wait for a very long period to start your professional endeavour

However, the requirements to get a startup loan is different from the payday loans for the unemployed. You need to provide the details of your start-up, including:-

Your monthly expenditures
Personal credit scores
Business plan
Repayment capacity
Financial forecast

What are the Important Things to Consider for Short-Term Loans for Unemployed?

The lending industry has a bad reputation among customers because of certain entities. They make a profit from the naivety of the borrowers struggling through a difficult phase. Therefore, you should watch out for the following things while taking a loan for the unemployed on benefits the same day.

Overall Cost

Do not fall for the easy instalments since the lender may extend the loan duration. You will pay more money for the same loan because of the longer duration. Therefore, consider the overall cost as a priority instead of the lower interest rates or instalments.
Reliable Lender

Do not become a victim of online fraud because the lenders are offering a loan too good to be true. You must contact a lender that follows the FCA guidelines for a safe lending experience. Also, read the fine prints on the agreement to make sure they don’t charge needless fees to increase the overall cost.
Early Repayment Charges

You should not pay for the early repayment of the loan to save money on the overall cost. Lenders don’t want to lose their profit from the interest rate over the original loan duration. Ask the lender about the prepayment charges to calculate the overall cost if you want to repay the debt early.

Why Should I Take No Fee Loans for Unemployedfrom FortniteMoney?

FortniteMoney is a trusted direct lender in the financial industry of the UK with thousands of satisfied customers over the years. We are motivated to provide a personalised solution to the requirement of our customers amid financial troubles.

Following are other important reasons to apply for our no-fee loans for the unemployed at our online platform –

Same day loans are available with fast application processing.
Various income sources are accepted as the repayment mode.
Apply for a loan 24*7 to manage an emergency.
Personalised experience with unparalleled customer service from the experts.

Apply now to get instant financial assistance if you are facing an emergency. Click here to fill the application form for loans for the unemployed.

Apply Now