Where to get cash loans for the unemployed

If you've already tried your bank, you'll have discovered that the jobless aren't treated particularly favorably. While it's inadvisable to borrow money when your income is low, you may need some cash to buy you a bit of time or to tackle a genuine emergency. The good news is that there are lenders who offer cash loans for the unemployed without the need to pass a credit check.

Pawnbrokers have been assisting low income families and the unemployed for centuries, but they now have a considerable online and high street presence. If you have a form of collateral, such as gold or diamonds, you can borrow money against that item. If you need a loan for the jobless, you may be able to get approval from borro.com or harveyandthompson.com.

Although payday lenders are unlikely to approve a jobless loan, you may get some joy with a doorstep loan company. They offer cash advance loans for up to £500 and you can spread the repayments over a period of up to 52 weeks. You don't need a job, but Provident Personal Credit and Greenwood Personal Credit will only approve your application if the repayments are affordable.

If you do need some fast cash, it's worth checking to see if you can get a family loan. You'll not only benefit from a lower rate of interest, you'll be able to spread the repayments over a longer term. The risk in borrowing money from a member of your family is defaulting on the agreement. If you do run into difficulties, don't bury your head in the sand, talk to them. People are more understanding when they understand what has happened.

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