Lightning credit for the unemployed
First of all: We generally advise against a loan for the unemployed if you cannot expect a permanent job in the foreseeable future. The information provided here is aimed primarily at people who are temporarily unemployed or who are self-employed and receive unemployment benefit I. In any case, you should have sufficient liquidity to repay the installments.
If you have been unemployed for a long time and do not have any funds to repay at the present and later times, you should not apply for a loan, especially as it is 100% rejected.
There is hardly a group of people looking for a loan more urgently than the unemployed. But it is especially difficult for you to get a loan approved. You won’t even get a loan approved for important investments, like renovating a child’s room. Many of you have regular cash in your checking account. However, this is not an income, but a basic safeguard for life support. Unfortunately, we also have to inform unemployed people that they will not get a lightning credit. However, you should read on until the end, because there are alternatives.
The alternatives to a lightning credit for the unemployed
Lite banks will generally reject the unemployed person’s loan application because of their lack of creditworthiness. Banks from other European countries are also demanding proof of income from future lenders. If this is not submitted, the loan application cannot be processed further. However, there are other ways to realize a loan request.
First you can ask for a personal loan in your own circle of friends or relatives. Here, as with a loan from a credit institution, you can record the contractual content in writing. Important here: the loan amount, the interest that has to be paid on the personal loan and of course the term of the contract. You don’t need a credit license to grant a loan. If you don’t get a loan this way, you can look for a personal loan online.
On the Internet there are two well-known platforms on which you can also take out a loan as an unemployed person. Unlike a conventional loan, the loan is not financed by a bank, but by private investors. They receive a return for the money they invest. This concept is very much based on “crowdfunding” and enables you to take out a loan from home.
The Benefits of a Personal Loan?
Anyone applying for a loan does not have to pay any additional costs for the actual request. In addition, no entry is made in the Credit Bureau. This is especially important for later credit inquiries, because every rejected request leads to a poorer rating. Interest rates are also very cheap at the moment, with loans starting at an effective annual interest rate of 2.79%.
You see whoever wants to get a lightning loan as an unemployed person can use good alternatives even if a desired lightning loan cannot be approved. Here it is worth comparing the offers and selecting the right one depending on your concerns. This is the only way to keep the loan itself cheap.
The loan from private individuals is suitable to repay older liabilities or to fulfill a long-awaited dream. In any case, you get financial leeway that you can use.