Ask anyone what the most important factor when seeking a loan from a lender is, and a high percentage will suggest that being employed is number one. In truth, lenders are reluctant to lend money to those with no income, but there are some offering installment loans for the unemployed.
This might seem strange but it is important to remember https://slickcashloan.com that there is a multitude of loan products available to people with poor credit scores and bankruptcy, so securing loan approval without any income is not a major jump from such levels of trust.
Online lenders are especially approachable when it comes to seeking installment loans that have been designed specifically to benefit unemployed applicants. Sums of as much as $5,000 are within reach, but there are conditions that should be considered before applying.
How Unemployment Loans Are Possible
It is true that lenders are normally unlikely to approve a loan application from an applicant with no income. After all, it does not make sense to lend to someone without any means to make repayments. So how can installment loans for the unemployed be possible at all?