How to Get a Loan If You Don’t Have a Job

Being unemployed can be extremely inconvenient. This is especially true when faced with an emergency. With little to no money to live on, you are forced to take out a loan. But, that makes the situation even more confusing. So, how are you supposed to get approval for a loan without a job? Well, it is possible but unfortunately, it will not be easy. Below, you will discover several tips to help you obtain approval for a loan even though you are unemployed.

get a loan

Personal Loan

The best way to ensure approval for a loan is to borrow from family or friends. Most people are willing to help their friends and family members out in the time of need. Surely, you know someone with good credit or money in the bank. When you borrow money from someone you know, it is crucial to ask for a small amount. You should also be sure to repay the loan in a timely manner because you never know if you will need to borrow from that individual again in the future.

Get a Cosigner

Another way to get approval for a loan is to get someone to agree to cosign for you. However, it will not be as easy as getting someone to agree to do this for you. The cosigner must have good credit in order for the lender to approve the loan. So, you must find someone with a high credit score, history of making payments on time and employed.

Steady Source Of Income

Banks, credit unions and other financial institutions, such as låna pengar utan inkomst, will loan money to people unemployed. However, borrowers must be able to provide the lender with proof of a steady source of income. This income could be from a weekly or monthly allowance, trust fund or child support. Some financial institutions will also loan money to people who have recently lost their jobs. This is especially true if the borrower is receiving unemployment insurance payments.

Payday Loans

If you have a checking account, you should be able to obtain a payday loan. These loans provide people who are employed and unemployed quick access to cash. Most lenders will not approve a large loan to a borrower who is unemployed. But still, you should get approved for a payday loan in the amount of $500 or less. Again, you will need to have an active checking account to obtain a payday loan. You will write a check in the amount of the loan with finance charges and give it to the lender. The lender will cash the check usually within two weeks of the initial loan date.

Getting a loan for a car title might be helpful in times of urgent cash needs. Car title loans, as the name suggests, allow you to get access to quick cash using your car or vehicle title as collateral. The lending company temporarily surrenders the hard copy of your vehicle title, in exchange for the loan amount. These types of short-term loans are one of the most convenient cash solutions in times of urgent, dire financial need.


If you need fast for an emergency, you should not stop until you get a loan. Securing a loan from a friend or family member will be your best option. However, if you do not want to let the people you know about your financial situation, you should take out a payday loan. If you have a steady source of income, you can also get approved through a bank or credit union.

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