How to Get a Loan with No Job

Scarcity of funds is common scene in unemployment as both have causal relationship with each other. One’s condition turns grim in such circumstances. Job loss is main hurdle for fund management because it is only source of income.

Unemployment brings one at typical situation from where other disquieting situations start dominating the individual. Poverty, mental disorders and indebtedness are commonest of them all. Few banks provide unemployed loans but this trend is still not encouraged by many.

Individuals without regular source of income may apply for unemployment loans but there is limited scope for them. Such loans are contemptible support to people eligible to work but fail to get any for their survival. Unemployed people are supported through special loans to provide them opportunity to buy basic necessities they would require. Such loans are sanctioned with a commitment that one without job would still repay the loan soon after getting employed.

Options are therefore abundant to avail loans even if one is unemployed. An individual may face difficulty in getting such loans but certainly they would find one. As unemployed individuals can’t give guarantee for regular payback of loans lenders avoid such people. Still there is abundant scope left for unemployed to get loans.

Loan Sanctioning

The very first step required to sanction loans is having permanent source of stable income. It is the main prerequisite for sanctioning normal loans. So, how can an unemployed person qualify for normal loans? They won’t qualify hence especially designed loans are sanctioned for them not having regular income. Specific loans meant for unemployed people are unemployed loans that support individuals. Such loans come with low interest rates and many other benefits. These loans are secured or unsecured like various other conventional options.

Secured Unemployment Loans

These types of loans without jobs are sanctioned for specific purposes. They are sanctioned for certain purposes like education, home improvement, starting new business, funds for house, wedding or meant for holidaying and et al. Lending parties sanction loans after procuring all details about collateral to ensure that in case loan repayment is not done or done partly specified collateral can be best used as compensatory payback option. Interest rates are deliberately kept low in such loans to fit them with the budget of unemployed and making it easy for individuals to repay loans the soonest he/she gets employment.

Unsecured Unemployment Loans

Unemployed person may not have sufficient collateral to avail loans. Some financial groups sanction loans even after being made aware of such condition by considering them special cases. Credit report of individuals is made basis of sanctioning on such occasions. Pawn shops too offer short term loans to individuals having no jobs. Banks and other financial groups too offer in special circumstances. Pawn shops offer loans by lending money in lieu of using personal items like jewelry, computers and televisions used as collateral.


  • Tanya said on February 8, 2013
    Hello I'm wanting to know if u can help. i'm unemployed and wanting to start my own mobile dog wash small business but I need a loan to get my business up and running. most people that I've asked for a loan, I need to have the business set up already but I cannot do this without money. if u have any advice it would be much appreciated.
  • Gurmeet singh said on August 29, 2013
    kashmir city. Srinagar. Jammu and kashmir india. I need loan for business i am unemployed . So plz give me loan. My cel no 9622660871
  • chandan sajnani said on November 19, 2013
    I need a loan for business mobile shopy in pune, this time I have no job my market experience is 7 years pl. Give me a loan I have urgent required. Pune city (maharashtra) Thanks Chandan sajnani Contact 09225505414
  • tanveer sial said on November 27, 2013
    Want to set up a work shop to make garments in kanpur up india
  • Xoliswa ngema said on November 27, 2013
    I want to start a small business. i want to open a tuck shop and a cresh but i am not working. can i get a loan for that business i want?
  • Henry said on March 15, 2014
    Hello, I am a Nigerian from Abia state, but I leave in the Republic of Benin Cotonou. I have an important issue to talk to you about. There is a hidden business secret in this country which nobody has discovered. It is a great business it is going to be one and only company so far in this country. I want somebody that I can reveal the business to, because I'm too young for such business. I can't take a loan, but want you to connect me to somebody who can be able to start up the business.
  • Muneer Ahmad Bhat said on March 20, 2014
    I need loan I want to start a business in srinagar plZ help
  • Bobbie Jo Rifanburg said on July 15, 2014
    I live in Oxford N.Y I worked about 2 years as a driver and I would like to start my own business I have a company that wants me to work land stare but all's I need is a truck I have one in mind it is a 2010 fright liner.
  • Suraj said on August 9, 2014
    I need a personal loan but i have no income proof (salary slip, index2, itr, form 16 etc) and no any mortgage anyone give me the loan. my loan amt 200000, my income 7000
  • ameenabegum said on August 30, 2014
    i need a business loan but I have nothing and no security I need only 1 lac to start my business help me how to take loan and from where
  • FESTUS MUTUNDU said on January 27, 2015
    Am a professional photographer/videographer located in nyeri kenya i would like a loan to boast up my business i would like to enligten to the world through my profession what the poor go through and more also tourism sector.
  • Dumisani said on January 28, 2015
    I am a permanent employee at an engen garage looking to start my own small business, i don't get paid through the bank but i'm looking to get a start up loan.. please advise.!
  • beuaty said on June 19, 2015
    i need a loan to start my own business i want to open a restaurant so plz i need a loan am from kzn, city pietermartzburg
  • anzelle said on September 22, 2015
    Hi,I would like to buy an up and running business in Boksburg South Africa but I am battling to get a loan where do I apply for a loan for some one that is unemployed
  • Asmat Qadri said on October 7, 2015
    Hi am from Mumbai and do a cosmetic n garment trading from home online through social sites.I wanna start my business of same so please help me out as m not having any Income proof.Kindly reply n gave me d details how do I get Dis u loan how to avail further.
  • DINESH NAVALKAR said on October 13, 2015
  • Gulam Hussain Ansari said on October 16, 2015
    admission guwahati..Assam India
  • Mamun said on January 11, 2016
    Sir I am mamun open manufacturing agriculture product please helps me Dharampur gendabari goalpokher uttar dinajpur west Bengal mob-09800589393
  • nomathamsanqa said on February 4, 2016
    hie my name is nomathamsanqa from south africa . i'm unemployed but i have great business ideas that i'm very certain will pick up bt i need a loan to open my business in pretoria ,i have nothing as mortgage or security but i am a very reliable ,hard working and ambitious please if there any company or bank that can give me a loan .help me make a difference in my family.
  • Surjit said on February 26, 2016
    Dear Team,I am starting a retail firm under e-commerce sector from Kolkata (West Bengal). Products are already ready (i.e webpage and application). I am looking around for base working capital which will help me to purchase raw materials. I really need support. As I had left my job and dedicated full time to create this product, need a financial loan support to start it soon. Appreciate and TIA for any such help. Email: Mobile: +91-7411873146 Regards, Surjit
  • jevon said on May 18, 2016
    hi good day my name is jevon maree i intend opening a small towing services in mitchells plain cape town how ever i am in need of capital to start it up i know that i Can bring a lot of business in this area but just need a helping hand in terms of loan to get it started with kind regards. thanking you kindly yours sincerely, jevon maree
  • karmjit kaur said on May 12, 2017
    need loan for starting new business 8894061810
  • KRISHNA NAND MISHRA said on June 26, 2017
  • Irine Rotich said on February 25, 2020
    I am kindly requesting if you can assist me with a small capital so that I can do small scale farming. I have no source of income. Thanks.


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