Payday Loans for Unemployed People




We understand how difficult it can be to make ends meet, especially when you’re unemployed and have no guaranteed income. In such situations, most people have no option but to apply for a loan. Unfortunately, getting approved without a source of income can be very difficult as most traditional banks and organizations require a minimum income before approving loans. Still, some lenders offer payday loans that accept unemployment benefits online.

This means it is possible to get approved without a job. In this article, we’ll have a look at some of the best lenders that accept unemployment benefits and review providers so you can pick the right option.

How Do I Know If I Qualify for Payday Loans that Accept Unemployment Benefits Near Me?

As their name suggests, payday loans for the unemployed are specifically offered to unemployed individuals who are employed in a traditional sense but have income sources such as:

  • Social security benefits
  • Government annuity payments
  • Retirement benefits or pensions
  • Regular funds from a trust
  • Child support
  • Disability Income
  • Income from a spouse or partner.

You will have to prove that you receive regular funding from one or more of these alternative sources of income. This will make you eligible for unemployed loans and get access to funds.

These unemployment benefits loans are designed to allow applicants to pay for emergencies and are usually given for a short period of time. Most have to be paid back in a year and the amount, in most cases, doesn’t go above $50,000. This is a big amount and these loans are given assuming it could take the person months to secure a job. Also, your credit history can have an impact on the rate and amount, however, it is possible to get payday loans unemployed even with a bad credit score.

Payday Loans for Unemployed – The Best Options

We’ve compiled a list of the best lenders offering payday loans for the unemployed. Go through this list and read our detailed review for each option so you can pick a suitable provider:

Happy Money

Formerly known as Payoff, Happy Money is a reliable payday loan for the unemployed option. The platform is designed for unemployed individuals, especially those who have recently lost their jobs. 

This is a very unique company as it offers very large sums – up to $40,000. On the downside, the minimum is $5,000, which may be too high for some applicants. Also, it requires a good credit score of at least 630. Unlike some other companies, it pays attention to credit scores. 

Loan terms vary from 2 to 5 years. Borrowers are also allowed to choose their own payment date. On the plus side, the company offers market competitive rates. They are in the range of 5.99 to 24.99 percent. However, there is no autopay discount. There is also no option to secure your loan via collateral or co-signer. Furthermore, it charges an origination fee of up to 5 percent. This is on the expensive side and could make the loan costlier. 

Since the company pays so much attention to the credit score, it can also be used to build credit history. It reports to the three major credit bureaus and allows borrowers to check their FICO score every month for free. But, make sure to pay in a timely manner as not doing so could adversely impact your credit score. However, Happy Money does not charge a late payment fee.

We must mention that Happy Money advertises itself as a finance company and not just a lender. It works with a number of partners and can be a great option for people. We found several lenders on the platform including some that offer zero-fee loans as well. 

Approved loans take two days to be funded. You will find some companies that offer even quicker deposits but we still found Happy Money quite impressive.

Here are the pros and cons of choosing Happy Money for payday loans that accept unemployment benefits near me:


  • Option to choose your desired payment date
  • Reports to major credit bureaus
  • No late payment fee
  • Allows borrowers to set up direct payment to creditors


  • Charges a high origination fee.

Happy Money can be a great option for applicants who need payday loans for unemployed for debt consolidation. Consider this option if you are in debt and have managed to keep a decent score.


If you’ve found yourself without a job, and with a credit score that is less than perfect, then Upgrade can be a good option. It offers guaranteed loans for unemployment benefits and is known for having soft loan requirements. 

Loan amounts range from $1,000 to $50,000, making it a good option for all kinds of applicants. The amount you get approved for mainly depends on the benefits that you receive and your credit score.

Loan terms vary depending on the loan you have borrowed, but on average are between 2 and 5 years. However, some lenders are willing to offer loan terms of up to 7 years, especially if it’s a large amount.

Borrowers cannot choose their own payment date; however, they are allowed to move their payment date 15 days ahead or prior to the date set by the lender. 

Rates at Upgrade are on the higher side when compared to other lenders offering payday loans for the unemployed. The rates range from 6.95 to 35.97 percent. Most applicants do not qualify for a single digit rate. However, if you set up autopay, you will receive a 0.5 percent discount on the offered rate. 

There are also additional charges that apply to your loan at Upgrade. The origination fee starts from 1.85 and can even go up to 8 percent, which can make the loan even costlier.

Those who fail to make their payments on time are charged a $10 late payment fee. An additional $10 fee is charged again if the payment fails to come through after a certain period, depending on your contract. On the positive side, Funds are approved and deposited within 24 hours. You will be able to use the money for any purpose with little to no limitations.

Here are the pros and cons of choosing Upgrade for guaranteed loans for unemployment benefits: 


  • Autopay discount
  • Extensive payment terms for those borrowing larger loan amounts
  • Caters to those with a fair to bad credit score
  • Funds are typically funded in a day


  • One of the most expensive options

Upgrade can be a good option for applicants with a bad credit score who need to borrow higher loan amounts. However, it is not a cheap provider so make sure to first try other options.


If you’ve found yourself in a situation before you need access to funds immediately, and you receive at least $35,000 in benefits, then LendingPoint can be a good option for you. 

With LendingPoint you can borrow minimum unemployment benefits loans of $2,000 and a maximum of $36,500. The loan has to be paid back within 2 to 5 years. Borrowers also have the ability to choose from biweekly or monthly flexible payment terms. Additionally, you can choose your own payment date based on when you receive your unemployment benefits. 

If, for some reason, you fail to meet the provided loan term, then you may have the option to request an extension or a lower rate from your lender. Though not always guaranteed, it is a good option as it offers more flexibility.

There are also multiple ways to pay your loan and keep an eye on the numbers when using LendingPoint. Borrowers can choose from ACH, LendingPoint’s online app, phone, or even mailed-in checks.

Rates at LendingPoint range from 7.99 to 35.99 percent and those with a low credit score can expect to receive higher rates. This is a little more expensive than what other companies charge, especially when you take into consideration the origination fee that goes up to 7 percent. Moreover, there is also no way to secure your loan in order to receive lower rates.

Applying for a loan at LendingPoint takes less than a minute, and a decision of your approval can be received within seconds. If approved, LendingPoint guarantees funding within 24 hours.

Here are the pros and cons of choosing LendingPoint for payday loans for unemployed:


  • Flexible loan terms with the option to change the payment date
  • Funding within 24 hours
  • Excellent customer support


  • Not available in West Virginia and Nevada.

LendingPoint can be a great option for people interested in fast funding. It caters to applicants with a low score but can end up being a little costly. 

Marcus by Goldman Sachs

Marcus is an online lending platform with a lot of prestige as it has been established by Goldman Sachs, one of the most well-known names in the business. It may, however, not be for everyone due to strict credit score requirements. The company doesn’t advertise a minimum score but it is believed that you need a score above 680 to be considered.

Loans start as low as $3,500 and go up to $40,000. Terms are between 3 and 6 years, but the best thing about Marcus is that borrowers are offered incredibly customizable terms. The company even offers options such as 36, 42, 48, and 72 months. 

There are no late payment charges, but it is important to make timely payments as you will continue to be in debt if you fail to pay. Interest will still get charged and non-timely payments can even impact your score. Also, there are benefits of making timely payments.

Applicants who do not miss a single payment for a period of 12 months will have the luxury to defer one payment. This will extend your loan term by one month without additional interest payments.

APRs are in the range of 6.99 and 24.99 percent. There is no option to add a co-signer for more competitive rates; however, we think that these rates are already competitive enough and much lower than what some other lenders charge. However, there is an autopay discount of 0.25 percent. 

This might sound exciting, but we must warn you that Marcus may not be a good option if you’re looking for quick payday loans unemployed. The company usually takes about a week to process requests.

Here are the pros and cons of choosing Marcus for payday loans that accept unemployment benefits near me:


  • Autopay discount of 0.25 percent
  • Wide range of flexible loan terms
  • No origination charges or late payment fee
  • Available in all 50 US states


  • You need a very good credit score to qualify

Marcus is a well known name and offers some excellent benefits including no hidden charges, but qualifying for this provider can be a little tricky.

Viva Payday Loans

Viva is for individuals with a bad credit score. Unemployment combined with a poor credit score can make it very hard to get approved. This is when Viva Payday Loans come into the equation as the company is known for instant approvals and Viva Payday Loans for unemployment benefits loans.

Viva offers small loans ranging from $1,000 to $5,000. Hence, it may only be suitable for people who expect to land a job in the near future. The amount can be used for a variety of expenses as the company doesn’t put a lot of restrictions.

Loan terms are flexible and vary from 16 days to a year. Loan providers can sometimes offer even more flexible loan terms based on your credit score and income. The key lies in negotiating and explaining your situation.

APRs at Viva range from 5.99 to 35.99 percent, which is the market average. However, the rate that you will be offered will depend on things such as your credit history and the amount that you have borrowed. 

If your loan is approved, then Viva guarantees funding within an hour. Very few companies offer such quick deposits. Also, since it’s a network and not a lender, not all providers will accept benefits and some may insist that you have another income source.

Here are the pros and cons of choosing Viva Payday Loans for guaranteed loans for unemployment benefits:


  • Offers a 1-hour funding guarantee
  • Zero-fee lending service
  • Flexible loan terms
  • Excellent customer support


  • Not available in all US states

Viva Payday is a reliable name but it does not always cater to applicants without a job. Still, it might be a good idea to give it a try as it has a growing list of lenders who do not pay attention to the credit score.

Payday Loans for Unemployed – Conclusion

These were some of the most popular payday loans for unemployment. If you happen to find a lender that fits your requirements, make sure to do your own research before accepting an offer.

Frequently Asked Questions

Still, have questions about payday loans for the unemployed? Check some of the most commonly asked queries below:

Can I get a loan if I am not employed?

Yes, it is possible to get a loan without being employed. There are a variety of lenders offering loans for the unemployed. Some companies accept unemployment benefits and other such income sources. You will, however, have to submit documents that prove you receive some kind of income. 

Are payday loans free to get?

No, payday loans are not free to get. You will have to pay a variety of charges, including interest, which can be as high as 100 percent in some cases. However, you will get a low rate if you have a decent credit score. Also, you may have to pay other charges such as a late fee, prepayment fee, and origination fee.

Can a loan application get rejected?

Yes, loan applications may get rejected. No loan provider has a 100 percent issuance rate, however, some are more lenient than others. The key lies in being honest and ensuring you meet all eligibility requirements. While the requirements differ from company to company, most only issue loans to residents and applicants above the age of 18. In addition, some companies require the applicant to have a decent credit history and a regular source of income to qualify.

What if I fail to pay back my loan?

Apply for a loan only if you are sure of your ability to pay it back as discussed. Not making timely payments will reflect very negatively on your credit history and will also impact your credit score. This will make it harder and more expensive to apply for loans in the future. In addition, you may also have to face a variety of charges such as a late payment fee, which can run into thousands, depending on the amount.

What is a payday loan?

A payday loan is a type of unsecured loan that’s typically given for a short duration and has to be repaid when the borrower receives their next paycheck. However, some companies now offer payday loans to applicants who do not have a job. These are called payday loans for the unemployed and are typically very expensive with the interest rate going as high as 40 percent. Payday loans can be applied online and are usually deposited within 48 hours.

Can non-residents apply for a loan in the US?

While non-citizens can apply for a loan in the US, you must be a resident to apply. Most lenders will ask you to submit a document that proves your residency. The document must be valid. Also, non-residents might be able to get a loan in the US if they get a resident cosigner. 

How much money can I get through a no employment payday loan?

The amount changes from provider to provider and can be as high as $50,000. Moreover, it depends on a number of factors including your credit score and income. This means that you may not qualify for the highest amount as the company will gauge your ‘reliability’ by looking at your credit history. This is why individuals with little to no credit history may only get approved for a low amount. 

Will I have to visit a bank to apply for a payday loan for unemployed?

No, you will not have to visit a bank to apply for a payday loan. There are many financial organizations that offer payday loans to applicants. We have covered some of the best options above and they all are digital. This means you will be able to apply for a loan online. You’ll be asked to submit digital copies of the required documents. Most lenders process the application right away and money can take about 24-48 hours to get deposited. You’ll be asked to provide a bank account number where the money will show up, without you having to visit the institution in person.

What is the minimum credit score to apply for a payday loan without a job?

The minimum credit score changes from provider to provider. While most require a 580+ score, some companies may accept applicants with a lower score. However, we must mention that you will get a very high interest rate if you do not have a good score, i.e.: 600 or higher. 

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