Emergency Loans for Unemployed People
There are over 20 million people who have lost their job, filed for unemployment, and need money now. Many people lose their jobs every year, but the Coronavirus pandemic has taken record employment to make around 13% unemployed. Having no job makes it extremely difficult to meet your financial requirements.
But there are programs for unemployed people (and even emergency loans for unemployed) that may be able to help you get back on your feet. Let’s start with the non-loan actions you can take.
File for Unemployment
Of course, many people have already taken this step. What is amazing is some people have delayed filing or did not file who can receive benefits. In other words, there is money on the table waiting to be given. To qualify for your state’s unemployment benefits, you must meet the eligibility requirements set by your state. Qualifications depend on your place of residence, so check your state website for details about filing, qualifications, and any other questions you may have.
Other Government Programs
Supplemental Nutrition Assistance Program
This program is also called SNAP. It is a nutrition program that can help cover the cost of food. If you qualify for this program, you receive benefits monthly, provided on an Electronic Benefits Transfer card. This card is used as a credit or debit card at locations that accept them.
Temporary Assistance for Needy Families
This program is designed to assist families with children. To qualify, the parents or responsible adults must need assistance to provide for their most basic needs.
If you qualify, assistance can be provided for a variety of needs, including housing, food, home energy bills, childcare, and more.
Each state has its own program. You will need to contact your state’s office to see if you qualify for benefits and to determine what benefits are available in your state. Again, check your state’s website for more details.
Contact Charitable Organizations
Two well-known organizations have programs to review.
- The Salvation Army has programs that provide some financial assistance. They can also help you with finding employment. Another program offers meal assistance and even housing assistance for those most in need.
- The Red Cross primarily aids those who lose their jobs due to natural disasters, wildfires, etc.
- Feed America is providing free meals for millions throughout the country. Contact them directly to see if you qualify.
Have a Garage Sale or Sell Items Directly?
Almost everyone has things that they no longer use or maybe sitting idle in a closet, garage, or storage area. You can sell these items for needed cash in a number of ways:
- Have a garage sale
- Post a photo, description, and price on various selling sites like Craigslist, Facebook marketplace, eBay, Local marketplaces in some cities
Sometimes it is better to list a price and the term "obo," which means 'or best offer.' You may get more responses by doing this.
Get a Temporary Job
Several temporary jobs require little qualifications and can allow you to start work right away, making money. For example,
- Rideshare drivers for Uber or Lyft
- Delivery jobs like for groceries and fast food outlets
You can get started quickly and be earning money right away. Most of these jobs have very flexible schedules that allow you to work when you can (even as you look for a job you want). Of course, you need reliable transportation, but that is often needed for most jobs too.
Consider Borrowing Money from Friends or Family
Most people are concerned about asking for money from family and friends. Such loans can cause problems in relationships that linger for years.
If you are comfortable asking for help, make sure you have a clear agreement (preferably in writing) about how you will pay back the loan.
If you need cash quickly, your credit cards are a possible option. Virtually every store accepts them, and even some utility companies do. Most cards also allow for cash advances.
Of course, your cards may also have high-interest rates and fees. And, you will hit your maximum amount of credit on any card, so using them is really a truly short term strategy. It is often best if you keep some open credit on your cards for any emergencies you encounter.
Cash Advance Loans
Cash advance loans are another potential money source of emergency loans for unemployed. Emergency cash loans for unemployed are available but are typically $500 or less. So, they are only best for true emergencies. There are no instant loans for unemployed, but they are still amazingly fast - often, if you apply and are approved, you can have your cash loan in 1 business day.
These loans are often called emergency payday loans for unemployed people. They are fee-based loans and are not inexpensive. Some lenders will allow alternate, steady income sources to qualify for emergency cash loans for unemployed.
CashOne has assisted over 500,000 people in getting small cash advance loans in their time of need. The loan request form takes only a couple of minutes to complete and is safe and secure.
Can I get an emergency cash loan if I am unemployed?
In certain circumstances, you may be able to qualify for an emergency cash loan for unemployed. Not everyone will qualify. You still need to show proof of regular income, and normally the amount needs to be $1,000 a month or more.
Can I borrow money if I am unemployed and have bad credit?
You may be able to borrow money from family or friends at any time. Poor credit will not be a factor if you apply for a bad credit payday loan, but you will have to have some form of recurring income to be considered.
I am unemployed and do not have a bank account, can I get a payday loan?
Generally speaking, you will not be able to get a payday loan if you have no bank account. Lenders for these types of loans deposit directly into a bank account and recover the loan amount in the same way. You can apply and ask if other options are available, like a debit card, but most lenders will not accept a non-bank account client.
I am unemployed but receive disability benefits. Can I get an instant loan?
In many cases, you can get a loan if you are receiving disability, annuity, or other similar types of steady income. An instant loan is really one business day loan before funding a loan if you are approved.
Where can I get emergency cash loans with no job?
CashOne has 120+ direct payday lenders; it can refer you to. As noted above, having a steady income (even unemployment) may allow you to qualify for emergency loans for unemployed people. Completing and submitting a loan request form will get you an answer in less than 2 minutes from the time of submission. So, it is easy to find out if you qualify.
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