Loans For People On Benefits | Top Loans For The Unemployed - CreditRaters.com page
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Net Credit
  • Personal Loans $1,000 - $10,000
  • Line of Credit up to $3,500
  • 14 States Covered
  • Loan Amount
    $1000 - $5000
  • Loan Term
    48 Months
  • APR Range
    29% – 299%
Loan Now
  • Lightning fast online applications
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  • Repay the balance over multiple months to reduce each repayment
  • Loan Amount
    $100 - $1000
  • Loan Term
    30 Months
  • APR Range
    26.88% - 1303.57%
Amount $200, Finance Charge $35.20, APR: 229.43%, Repayment $235.20 on 30 days Lend Up
  • Loans available within 1 business day of acceptance
  • Multiple repayment options including debit card, MoneyGram and check
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  • Loan Amount
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  • Loan Term
    6 Months
  • APR Range
    190%
Loan Amount $400, 120 days. Total of payments $569.88, APR 190%. Fig Loans
  • 9.7 TrustPilot Score
  • Instalment loans and credit lines
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  • Loan Amount
    $100 - $1500
  • Loan Term
    12 Months
  • APR Range
    390%
Check Into Cash
  • Providing short term loans for more than 25 years
  • Excellent selection of short term loans
  • Outstanding customer service
  • Loan Amount
    $100 - $1000
  • Loan Term
    6 Months
  • APR Range
    618%
A $500 loan over a period of 182 days with 13 bi-weekly payments (every 14 days) would have a payment of $89.24 with an APR of 387.92%. Check City
  • Online and in store loans available
  • Payday loans from 1 – 40 days
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  • Loan Amount
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  • Loan Term
    35 Months
  • APR Range
    90% - 805%
Cash Net USA
  • Multiple products to choose from
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  • Loan Amount
    $100 - $500
  • Loan Term
    24 Months
  • APR Range
    150% - 450%
24-month installment loan of $2,501 would require 24 monthly installments of $400.39 per month, which totals $9,609.36 when all is said and done. Cash Central
  • Competitively priced against similar short term loans
  • Confidential online service
  • Get a decision in seconds and funds in minutes (if accepted by 7.45pm EST Mon - Thur)
  • Loan Amount
    $100 - $2500
  • Loan Term
    9 Months
  • APR Range
    471% - 841%
Blue Trust Loans
  • A higher maximum borrowing limit of up to $2,500
  • Longer repayment periods of up to 10 months
  • Reduced fees of up to $16.00 per $100 borrowed
  • Loan Amount
    $200 - $1500
  • Loan Term
    18 Months
  • APR Range
    35% - 600%
Repay $1,000 over 13 bi-weekly payments at an APR of 344.85%, this would be made up of 12 payments of $175.95 and a final one off repayment of $175.08 upon completion. Big Picture Loans
  • Tribal status means they're able to offer their own lending terms without state restrictions
  • 91% of accepted applications paid within 24 hours
  • Customer service team available 24/7
  • Loan Amount
    $500 - $5000
  • Loan Term
    36 Months
  • APR Range
    187% - 412%
Borrow $2,000 for 12 months with a 19.9% representative APR and a monthly repayment of $183.63. Total repayment will be $2,203.56 Bad Credit Loans
  • Able to assist borrowers from all credit backgrounds
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  • Accepted loans typically deposited within 24 hours
  • Loan Amount
    $50 - $4000
  • Loan Term
    18 Months
  • APR Range
    400% - 521%
AmeriCash
  • Excellent customer service track record
  • Lightning fast online application
  • High acceptance rates
  • Loan Amount
    $100 - $5000
  • Loan Term
    12 Months
  • APR Range
    143% - 688%
Advance America
  • Lightning quick deposits
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  • Broad range of lending products
  • Loan Amount
    $100 - $1500
  • Loan Term
    30 Months
  • APR Range
    214.62% - 611%
Ace Cash Express
  • More than 50 years of experience providing short term loans
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  • Loan Amount
    $2600 - $100000
  • Loan Term
    180 Months
  • APR Range
    13.33%
The Loan Exchange
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  • Loan Amount
    $500 - $5000
  • Loan Term
    18 Months
  • APR Range
    59% - 160%
Loan Amount $2000, 9 monthly payments of $395,58. Total of payments $3,560.22, APR 160%. OppLoans
  • Get approved today with an easy online loan application!
  • Once approved, receive money in your account as soon as the next business day!
  • Payday loans average an APR of 400%. Compare to maximum 199% APR offered through OppLoans!
  • Loan Amount
    $400 - $50000
  • Loan Term
    24 Months
  • APR Range
    521.43% - 1173.21%
Representative Example: If you borrow $5,000 on a 36 month repayment term and at a 10% APR, the monthly repayment will be $161.34. Total repayment will be $5,808.24. Total interest paid will be $808.24. Honest Loans
  • Submit to borrow up to $50,000!
  • Works with wide range of lenders!
  • Friendly and fast loan broker!
  • Loan Amount
    $100 - $5000
  • Loan Term
    6 Months
  • APR Range
    18.23%
Representative Example: If you borrowed $5,000 over a 48 month period and the loan had a 8% arrangement fee ($400), your monthly repayments would be $131.67, with a total pay back amount of $6320.12 which including the 8% fee paid from the loan amount, would have a total cost of $1720.12. Representative 18.23% APR. Credit Clock
  • Same day credit available!
  • Lends to most states in America!
  • Repay your loan early anytime!
  • Loan Amount
    $100 - $5000
  • Loan Term
    12 Months
  • APR Range
    18.23%
Representative Example: If you borrowed $5,000 over a 48 month period and the loan had a 8% arrangement fee ($400), your monthly repayments would be $131.67, with a total pay back amount of $6320.12 which including the 8% fee paid from the loan amount, would have a total cost of $1720.12. Representative 18.23% APR. Money Lender Squad
  • New 2019 American loan broker!
  • Access over 30 lenders in 1 application!
  • Low APR rates and cheap monthly installments!
  • Loan Amount
    $100 - $5000
  • Loan Term
    12 Months
  • APR Range
    18.23%
Representative Example: If you borrowed $5,000 over a 48 month period and the loan had a 8% arrangement fee ($400), your monthly repayments would be $131.67, with a total pay back amount of $6320.12 which including the 8% fee paid from the loan amount, would have a total cost of $1720.12. Representative 18.23% APR. Viva PaydayLoans
  • No previous credit history required!
  • Same day funding as quick as 10 minutes!
  • All employment types considered, even military!

Loans and other forms of credit used to be reserved solely for those in permanent, full time employment with the unemployed and people on benefits automatically declined regardless of circumstances.

Fortunately, things today are quite different. This narrow approach to assessing applications has been replaced by a broader, more inclusive set of eligibility criteria with plenty of benefit loans  now available across the USA.

Read on to learn more about how benefit loans work, alternatives to payday loans on benefits and how you can improve your chances of finding the most competitive quotes available on your next line of credit.

How Do Benefit Loans Work?

Just because you’re on welfare or other state benefits shouldn’t stop you from getting access to the funds you need when life throws you a financial curveball.

In terms of borrowing and repaying funds, benefit loans work in exactly the same way as traditional personal loans in that you’ll be able to borrow a fixed lump sum which is repaid either in one go or over a convenient number of months.

So What Do Benefit Loans Do Differently?

The key differences lie in the way your loan application is assessed. Rather than focusing solely on your source of income, specialist loans for people on benefits paint a broad picture of your circumstances.

This gives them far more flexibility and understanding when it comes to providing loans where other lenders may have automatically said no.

What Loans On Benefits Are Available?

As well as the personal loans for people on benefits that we’ve already discussed, there are other avenues to consider.

Guarantor loans are a great way to reduce the risk to your lender by opting for someone you know and trust to stand as your guarantor during the term of your loan. If you’re unable to make repayments on your benefit loan then your guarantor will step in and take over the responsibility for these repayments.

Secured loans are another excellent resource for those trying to get loans on benefits. By securing your loan against an asset or property of value, this will again reduce the risk to the lender and potentially give you access to more favorable rates.

Can I Get Payday Loans On Benefits?

Payday loans and short term loans often get mistaken as the same. It’s important to understand the difference as all payday loans are short term loans, but not all short term loans are payday loans.

Your ability to get payday loans on benefits will depend on the type, frequency and amount of welfare that you’re currently receiving.

To put it simply, if you don’t technically have a payday then you won’t be able to get a traditional payday loan. However, there’s nothing to stop you from taking out a short term loan which is repaid in just a few days or weeks.

What Other Eligibility Requirements Are There?

No matter what your circumstances, you’ll need to fulfill a number of basic legal criteria to be considered for benefit loans. These include, but are not limited to:

All benefit loans bring their own qualifying criteria to the table. You may also need to provide evidence of other forms of income to verify your application and it’s well worth getting a good idea of your own credit score before applying to help you select the most appropriate lender.

How Can I Apply For Benefit Loans?

Applying for benefit loans is now quicker and easier than ever before thanks to the instant online assessment systems now in place with most lenders.

To give yourself the best chance of getting a competitive rate on benefit loans you’ll want to start with a personalised credit comparison. Tell us more about you and the loan you need and we’ll bring a huge range of suitable benefit loans from across the market straight to your smartphone, screen or tablet.

Compare interest rates, the total amount repayable on each option and more, and select a lender that meets your individual needs. Typically customers can complete the entire loans on benefits online application in minutes and, if approved, funds can often be transferred straight into your checking account within just 24 hours.