It can be tough to get a loan when you’re unemployed, because most lenders require proof of income. The good news? You can find legitimate lenders who may approve you as long as you have steady income, even if it’s not from a job — such as unemployment benefits, child support, retirement income or disability benefits.
Our top 5 picks for unemployed borrowers
These loans for unemployed borrowers could be a match if you need cash quickly.
Cleo is an AI-powered budgeting and cash advance app, offering 0% interest cash advances up to $250. While its advances are handy, Cleo's strength lies in its ability to help you budget and save money. Set targets based on your income and spending habits, and its quirky AI assistant will help you stay on track.
And unlike some cash advance apps, you don't need recurring direct deposits or W-2s to qualify for cash advances with Cleo. With its combination of cash advances, budgeting, round-up saving and credit-building tools, Cleo is ideal for anyone who wants to take greater control of their finances.
Loan Amount
$20 - $250
APR
0%
Turnaround time
3 to 4 days or instant for a fee.
Available in all states
Cleo is an AI-powered budgeting and cash advance app, offering 0% interest cash advances up to $250. While its advances are handy, Cleo's strength lies in its ability to help you budget and save money. Set targets based on your income and spending habits, and its quirky AI assistant will help you stay on track.
And unlike some cash advance apps, you don't need recurring direct deposits or W-2s to qualify for cash advances with Cleo. With its combination of cash advances, budgeting, round-up saving and credit-building tools, Cleo is ideal for anyone who wants to take greater control of their finances.
The top concern for personal loan lenders is your ability to repay the loan, and usually, that means having steady income from a job. But OneMain considers other sources, such as government benefits, alimony, child support or other forms of income. It also offers a cosigned loan, which can greatly increase your chances of getting a loan, and funding is possible as soon as one hour after approval. But it charges origination fees, its lowest rate is 18% and you may have to visit a branch office to complete the loan process.
Min. credit score
Not specified
APR
18% to 35.99%
Loan amount
$1,500 to $20,000
Not available in: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont
The top concern for personal loan lenders is your ability to repay the loan, and usually, that means having steady income from a job. But OneMain considers other sources, such as government benefits, alimony, child support or other forms of income. It also offers a cosigned loan, which can greatly increase your chances of getting a loan, and funding is possible as soon as one hour after approval. But it charges origination fees, its lowest rate is 18% and you may have to visit a branch office to complete the loan process.
Pros
Accepts alternative income sources
Fast turnaround time
Offers cosigned loans
Cons
Charges origination fees
High minimum APR
May need to visit a branch location
Loan amount
$1,500 to $20,000
APR
18% to 35.99%
Interest Rate Type
Fixed
Min. credit score
Not specified
Turnaround Time
As soon as one hour
Loan Term
24, 36, 48 or 60 months
* OneMain Disclosures:
Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
While many cash advance apps require monthly subscriptions and charge hefty fees for instant transfers, Chime's MyPay feature has no mandatory fees and only one potential fee — $2 for an advance of any size. If you can wait a day or two, this app is totally free to use and offers advances up to $500. Plus, it accepts income from alternative sources, such as government benefits, so you're eligible for a cash advance with no job. But it's not available everywhere, you have to get your earnings by direct deposit and you need to have a Chime checking account to qualify for advances.
Loan Amount
$20 - $500
Turnaround time
Within 24 hours or $2 for instant transfers
Costs
No subscription fees
Not available in: Colorado, Connecticut, Georgia, Illinois, Maine, Maryland, Massachusetts, Minnesota, Montana, Nevada, New Jersey, New Mexico, South Dakota, Vermont, Washington, Wisconsin, Wyoming
While many cash advance apps require monthly subscriptions and charge hefty fees for instant transfers, Chime's MyPay feature has no mandatory fees and only one potential fee — $2 for an advance of any size. If you can wait a day or two, this app is totally free to use and offers advances up to $500. Plus, it accepts income from alternative sources, such as government benefits, so you're eligible for a cash advance with no job. But it's not available everywhere, you have to get your earnings by direct deposit and you need to have a Chime checking account to qualify for advances.
Pros
No monthly subscription required
Accepts alternative income sources
Free funds transfer within 2 days
Cons
Not available in all states
Requires direct deposit
Need a Chime checking account
Loan amount
Up to $500
Loan Term
Until next deposit
Turnaround time
Within 24 hours or $2 for instant transfers
MyPay™ line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS 2316451). MyPay eligibility: To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Available Advance Amount may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details. Instant funds: Option to get funds instantly for $2 per advance or get funds for free within 2 days. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
OppLoans doesn't have a minimum credit score to qualify for a loan, and it's open to income from numerous sources besides employment. It also only requires a soft credit check, so there is no impact on your score — whether you're approved or not. But rates can be steep, you need to receive your income source by direct deposit and it's not available in all states.
Loan Amount
$500 - $5,000
APR
160% to 195%
Turnaround time
As soon as the same business day
Online application
Yes
Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia
OppLoans doesn't have a minimum credit score to qualify for a loan, and it's open to income from numerous sources besides employment. It also only requires a soft credit check, so there is no impact on your score — whether you're approved or not. But rates can be steep, you need to receive your income source by direct deposit and it's not available in all states.
Vola Finance provides an unemployment loan of up to $500 when you connect a bank account that meets three eligibility requirements:
At least three months old
Average balance of $150
Proof of income and activity
The app also features spending analytics and tools to help you better manage your money. However, how much you'll pay for Vola's subscription fee is anybody's guess. Third-party and customer reviews say it's anywhere from $1.99 to $28.99 a month. But the company doesn't clearly disclose a fee structure before you sign up.
Loan Amount
Up to $500
Turnaround time
Within 5 hours or instant to Vola card
Available in all states
Vola Finance provides an unemployment loan of up to $500 when you connect a bank account that meets three eligibility requirements:
At least three months old
Average balance of $150
Proof of income and activity
The app also features spending analytics and tools to help you better manage your money. However, how much you'll pay for Vola's subscription fee is anybody's guess. Third-party and customer reviews say it's anywhere from $1.99 to $28.99 a month. But the company doesn't clearly disclose a fee structure before you sign up.
Pros
Advances up to $500
Get an extension of up to 10 days
Free delivery within five business hours
Cons
Opaque and potentially expensive subscription fees
Our team of loan experts looked at dozens of cash advance apps and personal loans before narrowing them down to the best ones for unemployed borrowers. We also regularly review and update our selections to make sure our picks are the best in the market and ideally suited for their categories.
Here are the criteria we considered when choosing the best loans and apps that loan you money instantly without a job:
Turnaround times
Interest rates
Monthly fees
Origination fees
Transaction fees
Credit requirements
Income/deposit requirements
Loan amounts
Repayment plans
Better Business Bureau ratings and reviews
Trustpilot ratings and reviews
How to compare loans and cash advances for unemployed borrowers
Whether you’re looking for a small cash advance to tide you over or a larger loan amount, here are some key factors to compare.
Advance or loan limits. Loans have higher limits than cash apps, but only borrow as much as you need — especially if you’re on a tight budget.
Fees. Be sure you’re aware of any fees that come with unemployment loans, such as monthly charges for cash advance apps or origination fees for personal loans.
Credit score. Cash advance apps typically don’t check your credit, but personal loan lenders may have minimum requirements to qualify.
Loan terms. Consider how long you think you’ll need to repay the loan. You usually only get a couple of weeks with cash advance apps, but personal loans give you the opportunity to spread out your loan payments.
Turnaround times. Cash advance apps and loans can both offer fast funding, but if you need money instantly, you might have better luck with a cash advance app.
Pros and cons of cash advance apps and loans for unemployed people
Consider the benefits and drawbacks of unemployment loans.
Pros
Fast funding possible
Some options don’t require credit checks
Cash advance apps typically don’t charge interest or late fees
Personal loans offer larger loan amounts
Cons
Cash advance apps may require a monthly subscription fee
Personal loans can come with high rates
Fees for expediting cash advances can be steep
Risk of hurting your credit if you can’t make your loan payments
When to consider a loan
If you’re unemployed, you might be wondering if taking out a loan is a good idea. It might make sense if you:
Need to cover essential living expenses like food, rent or utilities
Have a medical emergency and need to pay for treatment
Have urgent home or car repairs
Are facing some type of expense that can’t be put off
Have a job offer letter with a start date in the next six months
Avoid taking out a loan that you aren’t certain you can repay. If you miss payments, you could end up owing multiple times what you borrowed in fees, hurt your credit and even risk facing a lawsuit from your creditor.
When to consider alternatives
Likewise, taking out a loan while you’re unemployed may not be the right option if one of these situations applies to you:
The thought of adding one more monthly payment to your plate stresses you out.
You don’t have a regular income.
You could sell something you own to come up with the cash instead.
The item you need to pay for is a “want” rather than a need.
We currently don't have that product, but here are others to consider:
How we picked these
What is the Finder Score?
The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.
Alternatives to cash advance apps and personal loans for unemployed people
If a cash advance app or personal loan isn’t the right move for you, consider these alternatives to borrowing money:
Government assistance. Programs like the Supplemental Nutrition Assistance Program (SNAP) and Temporary Assistance for Needy Families (TANF) can help with food or cash needs if you’re not working and need help making ends meet.
Payment plans. If you have a major car repair or a large medical bill, see if you can set up a payment plan rather than borrowing money.
Negotiate with creditors. If it’s existing debt that’s causing a shortfall in funds, ask your creditors about pausing payments for a month or two, getting an extension or lowering your monthly payment.
Sell your stuff. Make some money by decluttering your home or garage and selling your old belongings to people who can use them.
Find a side hustle. Whether you’re between jobs or retired, there are a ton of ways to make a little extra cash in today’s gig economy.
Frequently asked questions
Are cash apps payday lenders?
No, but they share some similarities. Both options offer short-term loans, which are usually paid back within two weeks. But cash advance apps don’t charge interest or late fees, whereas payday loans charge both.
How to get $200 instantly without a job?
Most likely your best option to get $200 fast is with a cash advance app that offers loans for unemployed people. You’ll have to pay a fee to get the funds transferred instantly, but at least you won’t have to pay interest.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf.
See full bio
I need help due to a recent divorce my credit score has plummeted . I have a decent verifiable income of $1600 every two weeks and no overhead bills but I still cannot get a loan. I have received my credit report and it is being handled by an attorney but I need help now .where should I look for a loan that will just check my verifiable income
Finder
HaroldDecember 20, 2017Finder
Hi Frank,
Thank you for your inquiry.
While having a low/poor credit score may affect your chances of getting approved for a loan, if you have the ability to repay and able to meet all the eligibility requirements, there may be a lender that can work with you.
There are bad credit personal loans that you can compare and apply for. Online lenders tend to have more forgiving credit requirements so they may be a suitable option for you.
Before you apply, please make sure to check all the eligibility criteria and read through the Product Disclosure Statements/Terms and Conditions before making a decision on whether it is right for you.
I hope this information has helped.
Cheers,
Harold
JohnDecember 17, 2017
Im looking for a small loan . for my self . like 1.500. . but i dont have a job or a bank account. .
Finder
HaroldDecember 18, 2017Finder
Hi John,
Thank you for your inquiry.
As per checking you are already on the right page. What you can do next is to compare the available options that will best fit your personal requirements. Please use the table provided on this page for your reference.
I hope this information has helped.
Cheers,
Harold
JFDecember 16, 2017
Hi, I’ve been unemployed since October, 2017. I had to quite/leave my job because my wrist was swollen and couldn’t perform job duties. Now I’m on the edge of going homeless with bills piled up. I need a loan for at lease $250 to pay the bills off. I make small income by selling my items, helping with events, and babysitting. So is it possible for me to get a loan without a job/ proof of income, and with low credit scores? I on the other hand do have an active bank account.
ArnoldDecember 21, 2017
Hi JF,
Thanks for your inquiry
Yes, some lenders will consider you for a loan when you’re not currently employed. Depending on which state you are in, you may still need to show proof that you have some form of income or have suitable income-earning assets to repay the loan such as welfare payments.
This is the main thing lenders look for when considering you for a loan. If you only want to borrow a small amount and your income and expenses demonstrate you can easily manage the ongoing repayments, then you may be eligible.
Please select which state you’re located on the page above to start comparing your options.
Hope this information helps
Cheers,
Arnold
ShakilaDecember 3, 2017
I want to borrow up $500 but I have no job. I just need to buy my kids Christmas and a job is not coming fast enough for me
ArnoldDecember 4, 2017
Hi Shakila,
Thanks for your inquiry
Lenders may look at your employment status and income as a way to determine risk. It would be good if you meet the eligibility criteria of the lenders. If you want to boost your chances of getting a loan, you might want to consider applying with another person, a partner, relative or friend as applying with a guarantor greatly increases your chances.
Hope this information helps
Cheers,
Arnold
JoyOctober 31, 2017
I have a remittance monthly.can I get a loan on this?
Finder
JudithOctober 31, 2017Finder
Hi Joy,
Thanks for contacting finder, a comparison website and general information service.
This would depend on the eligibility criteria and requirements of the lenders. To improve your chances of getting approved for a loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant Product Disclosure Statements / Terms & Conditions of the loan option before making a decision and consider whether the product or option is right for you.
By the way, we have a panel on the page you’re viewing wherein you can select the state where you live then click “Show Available Loans” to find out the lenders who may be able to approve you if you have alternate income. Also, you may click “Go to site” or “More” so you could read more about each lender.
If you need extra cash between paychecks, Earnin offers withdrawals on the money you’ve already earned — without charging a fee.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
I need help due to a recent divorce my credit score has plummeted . I have a decent verifiable income of $1600 every two weeks and no overhead bills but I still cannot get a loan. I have received my credit report and it is being handled by an attorney but I need help now .where should I look for a loan that will just check my verifiable income
Hi Frank,
Thank you for your inquiry.
While having a low/poor credit score may affect your chances of getting approved for a loan, if you have the ability to repay and able to meet all the eligibility requirements, there may be a lender that can work with you.
There are bad credit personal loans that you can compare and apply for. Online lenders tend to have more forgiving credit requirements so they may be a suitable option for you.
Before you apply, please make sure to check all the eligibility criteria and read through the Product Disclosure Statements/Terms and Conditions before making a decision on whether it is right for you.
I hope this information has helped.
Cheers,
Harold
Im looking for a small loan . for my self . like 1.500. . but i dont have a job or a bank account. .
Hi John,
Thank you for your inquiry.
As per checking you are already on the right page. What you can do next is to compare the available options that will best fit your personal requirements. Please use the table provided on this page for your reference.
I hope this information has helped.
Cheers,
Harold
Hi, I’ve been unemployed since October, 2017. I had to quite/leave my job because my wrist was swollen and couldn’t perform job duties. Now I’m on the edge of going homeless with bills piled up. I need a loan for at lease $250 to pay the bills off. I make small income by selling my items, helping with events, and babysitting. So is it possible for me to get a loan without a job/ proof of income, and with low credit scores? I on the other hand do have an active bank account.
Hi JF,
Thanks for your inquiry
Yes, some lenders will consider you for a loan when you’re not currently employed. Depending on which state you are in, you may still need to show proof that you have some form of income or have suitable income-earning assets to repay the loan such as welfare payments.
This is the main thing lenders look for when considering you for a loan. If you only want to borrow a small amount and your income and expenses demonstrate you can easily manage the ongoing repayments, then you may be eligible.
Please select which state you’re located on the page above to start comparing your options.
Hope this information helps
Cheers,
Arnold
I want to borrow up $500 but I have no job. I just need to buy my kids Christmas and a job is not coming fast enough for me
Hi Shakila,
Thanks for your inquiry
Lenders may look at your employment status and income as a way to determine risk. It would be good if you meet the eligibility criteria of the lenders. If you want to boost your chances of getting a loan, you might want to consider applying with another person, a partner, relative or friend as applying with a guarantor greatly increases your chances.
Hope this information helps
Cheers,
Arnold
I have a remittance monthly.can I get a loan on this?
Hi Joy,
Thanks for contacting finder, a comparison website and general information service.
This would depend on the eligibility criteria and requirements of the lenders. To improve your chances of getting approved for a loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant Product Disclosure Statements / Terms & Conditions of the loan option before making a decision and consider whether the product or option is right for you.
By the way, we have a panel on the page you’re viewing wherein you can select the state where you live then click “Show Available Loans” to find out the lenders who may be able to approve you if you have alternate income. Also, you may click “Go to site” or “More” so you could read more about each lender.
I hope this helps.
Best regards,
Judith