Warning: Late Repayment can cause you serious money problems. For Help, go to money adviceservice.org.uk
Apply to borrow from

100 TO  25000*

  • Apply for 50-1,000
  • Fast Payout
  • No Fees
  • Secure Application
  • Available 24/7
  • Bad Credit
Choose loan amount
  • Instant Decision
  • Rates From 5.7% APR to 278% APR
  • N60- Second Application From
  • 3-36 month repayment
  • From 100 to 25000
Choose loan amount
  • Online decision
  • Responsible lenders
  • Apply to borrow up to £3000*
  • Rates From 278% APR – 1576% APR*
  • 3-12 month repayment

Get the best cash assistance you need, anytime you need it. Apply now and borrow funds up to £25,000. Even without a credit history or bad credit line, you always have a place here. The process only takes minutes. It is fast, convenient, and secured.

When people apply for small loans, it is usually for a number of reasons. They could be building a house, fixing a car, starting a business, or even paying for a medical expense.

While most banks and credit lenders would be more than happy to provide you with the money that you want to borrow, there are specific conditions that you will be expected to meet first. However, there are conditions that you’ll be expected to fulfil first such as a sound credit history. Generally, a bad credit score will make it more difficult for you to get approval. If you do not have a job, there is a very good chance that you’re in some form of financial difficulty so getting approved for standard easy loans may be a lot more difficult.

Applying for loan without a job

People often ask if it is possible to sign up for a loan when they are currently unemployed. It may be more difficult to get approved for one, but you can. You do have to deal with the downside of a more expensive interest rate. You may get the cheapest loan from a bank too, if you can present collateral. You just have to present one that is worth more than what you are borrowing.

Criteria for applying for a loan without a job

Despite being unemployed, there are people that are still earning some sort of regular income. If you are self employed or run your own business, you can just show to the lender how much money you are making daily or weekly to prove that you are earning something. This is a great indication that you can afford to pay the personal loan back. So showing proof of income consistency despite being unemployed increases your chance for approval and better rates.

Your credit history will figure on how lenders will decide. If you have taken out loans in the past and have paid them off on time, you’ll be able to establish some level of trust with your lender so you get approved for loans with better terms- a sign that you’re a responsible borrower. 

How good or bad is your credit score is crucial for your loan approval.  Even when you are unemployed, if your credit score has remained good all this time, then you can get still get a loan. If it is poor, take the time to fix it before you apply to get a better chance for approval. 

Aside from your credit score, another crucial factor that lenders will want to consider when granting you a loan is if you have a stable income or not. This is, after all, determines who well you’ll be able to pay off the loan if they are ever going to approve it. This is also the reason why it would be a challenge for a borrower without a job to secure financing.

Requirements to meet

Still, getting a loan approval is not impossible. All you have to do is prove to lenders that you have other means to pay the loan back. Whether you are self-employed, receiving benefits, or have other regular income coming in despite being unemployed, you should still be able to qualify for a loan. You’ll need proof and documents to prove this to the lenders though so be sure to prepare whatever supporting information they might need.

Your credit rating will be considered too. If a lender is willing to look beyond your current employment status, they may be willing to forgive some of the negative marks that will likely be present on your credit file. However, there may be limitations to this flexibility though. Most specialist lenders will likely not be able to accept credit files especially if it states that you are bankrupt.

If you are a vehicle owner or have property equity, you may have a higher chance of getting approved. Lenders will see these assets as possible security for the loan, after all.

Important things to consider

Make sure that you have the means to repay the loan. If lenders will see that you can afford to pay back the loan amount and the interest with how much you are earning now, then it will be easy enough for them to approve the loan. If the amount you’re borrowing is just but a small one anyway, getting approved in your current state will be easy. If you plan on borrowing a much larger amount though, lenders might find this to be beyond your financial means so they may likely reject the loan.