One of the basic and fundamental requirements, to obtain a loan , is the presentation of a regular income document, which demonstrates the possibility of taking on the burden of the monthly repayment installment. Those who have no income, however, may still be able to obtain a personal loan, thanks to the presence on the market of some income-free loan solutions, dedicated to those who do not work or have a paycheck short term loans.
It must be taken into account that, probably, given that the risk margin of the financial institution rises exponentially in the case of loans to the unemployed, interest rates will be less advantageous than those of standard loans short term loans.
Banks tend not to evaluate, a prioritize, the practices that do not present regular income documentation, apart from a few exceptions that fall within the case of loans without income in which important guarantees can be used. Financial companies are the most suitable institution to apply for a loan for those who do not have a job , as they are more flexible as a way of working and operating. To obtain a loan for the unemployed, the signature of a guarantor is required, who presents a regular pay slip, of an amount sufficient to guarantee the reimbursement of the monthly payment agreed upon in the contract. Alternatively, the applicant can use, if he has it, any alternative income document, even occasional, or a rent or the collection of a rent for a property owned. Another guarantee, accepted like an income document by the financial companies, is considered the simple ownership of a property. By showing the contract of ownership of the house of residence, for example, it is not necessary to offer any other guarantee.