A friend in need is a friend indeed’. You must have heard this saying countless times. Such sayings easily relate to the unemployed people, who, very frequently need financial help from their friends and yes family too. But, they cannot keep draining their money to fund your tough times. Besides, the government benefits you are taking will also be given for a limited time. If you can prove your eligibility then taking loan from a traditional bank will be great, otherwise direct lending is also a suitable option. Most importantly, because of their quick procedures, that is the biggest relief for an unemployed person. The products like loans for unemployed people on benefits will help you for sure.
Benefits that accompany these loans
There are many benefits these loans provide you to finance your bad times:
Easy application, quick approval
From application to approval, all the procedures in direct lending are done online maintaining the complete transparency. The borrower can get his loan approved in few simple steps. This can be done while sitting in the comfort of home. In fact, the transfer of money does not take much time.
Loan approval without any credit check
Low credit score is not an untypical thing for the unemployed people. While applying for a loan, the credit check can cause further fall in the ratings of the credit score. But, the direct lenders give the facility of no credit check. Although, technically it is a soft credit check, which is popularly framed as no credit check. This does not degrade the credit ratings of the borrower.
Stay stress free as no guarantor is required
In times of financial crisis, finding the guarantor is an impossible thing and time consuming too. To solve this huge problem of most of the borrowers, the lenders offer many financial products where the money is given without any guarantor. Although, yes, in such cases, the interest rate will be on a little higher side but at least at the time of urgency you have a place where you can get the money immediately. At least, the pending bill you have to pay in the very next hours will not strain your nerves. The options like 12 month loans with no credit check from direct lenders and with no guarantor are worth to consider.
Other available options
For unemployed people, the direct lending market is filled with life-saviour options. A little research will land you to some very promising products. The products like payday loans over 12 months can be a good choice to make. In these loans too, there will be no obligations for guarantor. In fact, they will not even ask for collateral.
No question round
In the case of short-term loans, the amount of the borrowed money is less. This causes the lender make the approval procedure easier and fast. No questions are asked from the borrower. He may not have to tell the lender about the purpose of the borrowed money. This ensures faster availability of the financial solutions for the borrower.
When you are surrounded with the severe financial chaos, the only thing you yearn for is the instant availability of cash. At the time when you need to pay something in the nest hour, you cannot rely on a lending option which may give you a good amount but not at the time of the need. These loan options do not only give you instant help but also help your financial records. What a great deal!