Best Lending Companies In 2022 For The Unemployed To Get Instant Cash Advance

So, the world is returning to normal, and everyone is getting back to work, it seems.

But, not everyone is, as many people are still without a job or a source of income, especially in the aftermath of the Covid-19 pandemic. If your savings have run out or your unemployment benefits are drying up, you might be worried.

As a solution, loans for those who are unemployed and/or have bad credit do exist. However, keep in mind that these loans should be used only if you desperately need money for an essential good or service (such as an auto repair, a medical expense, or a housing emergency like a leaky roof).

You should make sure you cannot collect further unemployment, apply for public assistance, or work with family and friends to borrow some money. These loans are great when you need them, but they do come with relatively high-interest rates.

If you are ready to learn about the best loans for the unemployed, keep reading.

Our Top Picks For The Best Lending Companies On The Market: 

Here is our list of the best online platforms to get personal loans even if you are unemployed.

  1. MoneyMutual: Overall Best Lending Company, Editor’s Pick 
  2. BadCreditLoans: Most Recommended For Bad Credit Loans 
  3. CashUSA: Most Popular Lending Company To Get Cash Advance 
  4. Personal Loans: Highly Rated For Personal Loans Among Borrowers 

#1. MoneyMutual: Overall Best Lending Company, Editor’s Pick 


MoneyMutual is a network of lenders who make short-term loans. The network consists of over 60 lenders that dole out bad credit, payday, installment, and other loans to people who need them.

You just go to the website, fill out all of the forms, and the lenders come to you in seconds. This way, you do not have to go to each site individually, or worse, go to actual payday loan offices.

This site helps you cast a big net and get loan offers quickly. They partner with short-term lenders, making the site a great place to get a fast payday loan if you need to cover essential expenses like a car repair, medical bill, or home emergency.

Rest assured, this company is legit. They were founded in 2010, and their goal is to help the everyday American come up with fast money if they need it. They wanted to make it easy on people already under a lot of stress. So, they networked all of the best lenders together and streamlined the process of getting a quick loan.

How Does It Work? 

Well, this company itself is not a loan company or a bank. It is what you might call a “go-between,” or a middleman. They take your info and pass it along to a network of lenders who then return with their offers.

It is a great way to locate a short-term loan, and since it is online, you can do it all from the comfort of your home.

Once you have selected your loan amount and lender, you will review the terms and conditions carefully. Then, you can accept the loan if you find it suitable to your needs. However, keep in mind that the interest rates, terms, and payment amounts are all determined by the lender, not MoneyMutual. We cannot stress this enough — make sure you fully understand the terms of your loan before you sign. 


Here are a few of MoneyMutual’s best features:

  • Offers short-term loans; the max loan is $5,000
  • Funds deposited in just 24 hours
  • You can compare the rates and terms of many lenders
  • Over two million satisfied customers
  • Sign-up form is easy and takes about five minutes to complete

Next, you will love the variety of loan types offered by MoneyMutual. Let us take a look at what they offer: 

  • Payday Loans

These short-term loans are very common, and they are designed to help you reach your next payday, at which time you will pay it off. These are great if you have paid all of your bills, but suddenly have a surprise expense pop up, such as a car repair.

The loans offered through the MoneyMutual network usually require you to pay them off by the next paycheck, so you must provide that date when seeking a loan like this. You will also need to authorize a withdrawal from your bank account on that day to pay the loan back.

Make sure you can pay off this debt completely, as payday loans are high-interest, high-fee ventures. Therefore, ensure you do not get trapped in a debt cycle over one payday loan.

  • Cash Advance

These are a lot like payday loans, except they are for situations in which you cannot use electronic payment methods to pay a debt. They have steep interest rates and huge fees for just utilizing the service.

  • Bad Credit Loans

Many of the lenders on MoneyMutual will look at your credit score, but they will also look at other factors, such as your monthly steady income, to help determine eligibility for a loan. These loans have higher interest rates but lower eligibility criteria. However, some lenders may not qualify you if you are unemployed, as some require proof of monthly income before they approve you.

  • Installment Loans

Installment loans are to be paid back over a series of scheduled payments. They are good if you have a steady income and can pay them back on time, every time. Just make sure you read the terms carefully, as you might end up having to make a few interest payments based upon the repayment dates of the loan.


  • Many educational resources available on their site
  • Funding by the next business day
  • Loan offers available in minutes
  • Simple and fast approval process
  • No fee to use the service


  • Some loan servicers may not be available in your state
  • Loans may have high-interest rates

Customer Experience 

There are a wealth of reviews provided by those who have used MoneyMutual’s service, and they were overwhelmingly positive. Customers raved about the top-notch customer service provided by the platform, saying they handled all of their questions and guided them through the entire process. Users also praised the flexibility offered by the lenders in MoneyMutual’s network, as they allowed them to make small payments.

=> Click Here to Visit the Official Website of MoneyMutual

#2. BadCreditLoans: Most Recommended For Bad Credit Loans 

The tagline of BadCreditLoans is, “We help when others can’t.” This is encouraging to the many people who need a bit of financial help but may not know where to turn. It is designed for those of us out there who have poor credit, and it gives us the ability to attain small loans that we can easily repay and use to rebuild our credit.

You could use these loans for a myriad of purposes; but, of course, we only recommend using them for things you desperately need, such as auto or home repairs or medical expenses.

Like MoneyMutual, this is a lending marketplace. The loans do not come directly from BadCreditLoans; but rather, you are connected to an extensive network of lenders who send you loan offers to consider. All you have to do is complete one single application to get these offers.

As you may already know, you should approach these loans with caution. After all, you will be paying higher interest rates and fees for relatively low loan amounts. With that being said, they are the best around for those of us that need help but do not have great credit.

One thing we love about BadCreditLoans is that it has been around since 1998. With over 20 years in the business, we know they are legit. They have traditional lenders as well as tribal lenders for your consideration. In a nutshell, tribal lending involves loans made by Native American loan companies, who operate on tribal land and follow tribal laws instead of federal laws.

Your best bet is to read over the loan terms carefully before you agree to anything to ensure you can pay it back on time and avoid any late fees.


BadCreditLoans has plenty of great features, which are highlighted below.

  • Loans available from $500 to $10,000
  • Form is easy, and funding is fast
  • Funds transferred to your bank account by the next day
  • You can compare rates from all available lenders, which is very convenient
  • Education Center

If you are new to the world of loans, start by reading articles on the BadCreditLoans website. They will discuss the different types of loans available, such as student loans, auto loans, personal loans, credit cards, and business loans.

They also have interesting articles about loan scams, which are truly worth the read, especially since such criminals target people with bad credit. In addition to their efforts to educate borrowers, we were also impressed by their contact info displayed prominently on their website to call anytime.

  • Options for Personal Loans

Personal loans are the main service BadCreditLoans offers. This is, simultaneously, a good and a bad thing. For example, one good thing is that you do not have to put up collateral as you do with a mortgage or an auto loan. Meanwhile, the bad thing is that fees and interest rates will be higher, because there is no collateral.

As mentioned before, these loans can be used for anything, but make sure it is something you need to avoid unnecessary debt. Our research found that anyone with a FICO score of less than 500 would not be given a loan higher than $1,000.

  • Basic Qualifications

It is relatively easy to meet the basic qualifications for a loan with BadCreditLoans. You must:

  • Be at least 18 years old
  • Have a valid email address
  • Provide phone numbers for work and home
  • Have a bank account in your name
  • Have a regular income, whether it is social security, unemployment, self-employment, full-time employment, or disability payments
  • Have proof of being a U.S. Citizen, such as a legal residency or social security number

Moreover, the questionnaire to see the available lenders is three pages long in total, but is not difficult or overly time-consuming.

  • Excellent Customer Service

The customer service representatives of BadCreditLoans are helpful and prompt. However, bear in mind that while you can ask questions about the site itself, any queries you have about your loan have to be posed to that particular lender.

  • Just Four Steps to Get Your Money

Step one is to fill out the request form indicating you are interested in a loan. You will share your credit score, loan reason, and birthdate, along with banking, employment, and contact info. Step two is to review any offers you may have received. Make sure to read the contract carefully.

Step three is to accept your loan and apply an e-signature to indicate you understand the terms of the loan and agree to pay it back. Finally, step four is to get your money in as little as one business day and use it for whatever purpose.


  • Compare multiple lenders at once — competitive interest rates
  • Free service
  • Customer service is easy to contact
  • Offers services to help improve credit score
  • Allows bad credit holders to get quick funds


  • Loans tend to be rather small, especially if you have very poor credit
  • Your information will be sent to many lenders, which could result in marketing calls or emails
  • Interest rates tend to be high for these types of loans

Customer Experience

Many customers have left positive reviews for BadCreditLoans. Some of the features users have highlighted are the helpful customer service agents, the quick loan approval, and the simple application process. Moreover, users loved that they easily and quickly received a loan, despite having bad credit.

=> Click Here to Visit the Official Website of BadCreditLoans

#3. CashUSA: Most Popular Lending Company To Get Cash Advance 

This is what we call a “loan marketplace” — another term for a network of lenders working together to bring interested borrowers their options. Like MoneyMutual, you can think of this as a “middleman,” as they bring all of the offers to you directly and let you choose which one is suitable for your needs.

You simply submit one application at CashUSA, and they handle the rest. Then, lenders come to you in minutes with offers based on the information you provided.

In our research, we learned the lenders of CashUSA do not perform credit checks on borrowers. This is good news if you have bad credit; however, you will be paying greater interest charges and service fees if you get a loan with this organization.

At a minimum, loans are $500, and the maximum loan amount is $10,000. Additionally, interest begins at a rate of 5.99% and ends at 35.99%.

It is important to keep in mind that CashUSA does not service or finance the loans you are offered. As a result, if you have any questions about your loan or its terms, you will have to contact the lender for more information.


CashUSA has many great features, including:

  • Loans range in value from $500 to $10,000
  • Approval in a matter of minutes
  • Funds transferred directly to your bank account
  • Loans may be used for any reason
  • Good, bad, or no credit accepted
  • Multiple Lenders Available

Part of the reason we love CashUSA is that it is easy to view all of your options. You can cast a wide net and see what lenders are willing to loan you. This is far better than having to call up several different lenders for assistance. Plus, they will only send you lenders who are available in your state.

  • Loan Process is Easy

You will have to fill out a quick form before applying for funding with CashUSA. This form is easy and asks for basic info, such as the last four digits of your SSN, birth year, and zip code. Then, you will click on the “Get Started” button, and this will take you to the full form. Here, you will enter more info, such as the loan amount, your email, and your military status.

After that, you will share the name of your employer, your driver’s license number, bank info, and sources of income. Once you click “Submit”, you will quickly receive offers from lenders. Once you find a loan you like, you will click on it and review the contract page for that specific lender.

You will review the terms, rates, and the amount of the loan. If you decide to go for it, you will have to provide some more specific information based on what that lender requires. Then, once you are approved, your funds will reach you in about one business day.

  • Free to Use

You will not pay a single penny for simply comparing loan offers and rates using CashUSA. It is like looking through a catalog and comparison shopping for a loan. You have access to an extensive lending network without having to pay anything.

However, when it comes to your loan, any fees and rates you must pay are determined by the lender. Likewise, the terms of repayment, such as the interest rate, amount to be paid, and length of repayment, will be determined by your specific lender and your creditworthiness.

  • They Qualify (Nearly) Everyone

With so many lenders in the CashUSA network, you are sure to get approved for a loan somewhere. However, you do have to meet basic eligibility requirements. What are these requirements, you may ask? 

Let us review:

  • Must be 18 years of age or older
  • Must have a checking account in your name
  • Must be a permanent resident or citizen of the U.S.
  • Must have a phone number and email address
  • Must have at least $1,000 monthly in income
  • You Can Use Your Loan for Just About Anything

While this is a huge perk, we want to stress how important it is that you are taking out loans for things you truly need. Before applying for a loan, you should have exhausted all other options, such as personal savings, help from friends and family, working extra jobs to come up with quick cash, unemployment, or public assistance payments.

We recommend using the loans offered here for housing, medical, or transportation needs.

With that being said, you can use your loans for moving expenses, going on a vacation, wedding costs, buying furniture, or anything else you can think of. It is a great choice if you need money for something banks typically do not finance.

  • Easy Repayment

You can easily repay your loan using the lender’s automatic withdrawal method. You will enter your bank account information so the funds can be deposited. This can also be used for autopay, as you can simply have loan payments withdrawn from your account every month automatically. This way, you will never miss a payment, and your loan will be paid on time.


  • No minimum credit score needed to qualify
  • Service is free to use
  • Convenient, safe, and secure platform


  • A minimum income of $1,000 a month is required
  • Interest rates can be very high

Customer Experience

Customers have expressed their appreciation for the services provided by CashUSA in their reviews. They have praised the customer service representatives for being friendly, understanding, helpful, and readily available. Users also love the quick application, approval, and funding processes, along with the low-interest rates.

=> Click Here to Visit the Official Website of CashUSA

#4. Personal Loans: Highly Rated For Personal Loans Among Borrowers 

Similar to the other loan companies featured in this article, Personal Loans is a network devoted to matching interested borrowers with lenders.

They started in 2017 and are headed in Utah. They do not lend money directly; rather, you can enter your info and compare rates and terms of loans from many lenders.

In our research, this is a company that only provides loans to people who have fair to excellent credit scores. However, they do not appear to offer loans to those with poor credit.

You must also have no accounts over 60 days late, no active or recent bankruptcies, and no patterns of late payments.


Personal Loans has many features that make it stand out, including:

  • Loans from $1,000 to $35,000 offered
  • Rapid approval process
  • Funding within one business day
  • Multi-purpose loans offered
  • Free Service

It is good to know that if you would like to use Personal Loans, you can do so without fear of an upfront cost, a hidden fee, or an obligation to pay anything.

  • Competitive Rates 

With so many lenders in the network, you are sure to find a loan that has a good interest rate.

  • Loans for Any Reason

Whether you would like to start a business, take a vacation, cover an emergency expense, or make a home improvement, these loans can help you.

  • Fast Funding 

You can get your money as soon as the next business day if you are approved for a personal loan.

  • Helpful Explanations 

One great thing about Personal Loans is the amount of helpful information they have on their website. Before you do anything else, it would be beneficial to read these articles, so you are a more informed consumer. You can read about bad credit, debt consolidation, and tax loans, to name a few. While it might not have anything to do with your situation, these articles are full of knowledge.

  • Excellent Customer Service 

If you have questions or concerns about the site itself, feel free to contact the staff via phone or email. You can contact them Monday through Friday from 6 AM to 7 PM Pacific Time. Just keep in mind they cannot answer questions about your loan, as you would have to contact your lender for that. However, they can help if you have questions about the site and its services.

  • Basic Requirements

The requirements for getting a loan are pretty straightforward with Personal Loans. Borrowers must meet the following criteria.

  • Income: You have to have full-time employment, receive regular Social Security or disability payments, or be self-employed. You may have to send a pay stub or proof of income to the lender you choose.
  • Residency/Age/ID: You have to be at least 18 years old, have a valid SSN, and be a permanent resident or legal U.S. citizen.
  • Checking Account: You must have a valid checking account so your money can be deposited once you have been approved.
  • Credit Requirements: Good credit is more likely to get you a loan as compared to poor credit. You must have no accounts more than 60 days old, no recently charged-off accounts, and no active or recent bankruptcies.
  • Different Loans Available

Here are the loan types that Personal Loans offers: 

  • Peer-to-Peer Loans: Borrowers and investors are connected using this method of lending. You borrow from an actual person, not a bank. The lender or investor you will be borrowing from reviews what you are using the money for and decides whether or not it is worth the loan. Loans range from $1,000 to $35,000 with peer-to-peer loans, and origination fees can range from 1% to 5%.
  • Personal Installment Loans: With these loans, you can get a loan ranging from $1,000 to $35,000. You will enter basic personal information and financial info and then review the offers available to you. The lender or lending partner will offer you a loan agreement that is best suited to your financial needs. Once the loan agreement has been accepted, your money will go right into your bank account. Therefore, it is important to carefully review the loan terms before accepting any offers.
  • Bank Personal Loan: You must have at least a credit score of 580 to get this type of loan, and this is a service for people who would like a loan from a local financial institution. You may be able to complete this request online and get your money that way, or you might have to complete the loan application process in person. If you go in person, it is a great way to have the terms and conditions explained to you.


  • Extensive network of lenders available
  • Loan amounts up to $35,000
  • Banks and credit unions are part of the network, which can help you get a loan with more competitive rates
  • Geared toward those with good to excellent credit
  • Free to use service
  • Loan terms go from 3 to 72 months


  • Not ideal for people with poor credit

Customer Experience 

There are many features of Personal Loans that customers who have used this service have loved. A constant praise that is seen throughout multiple reviews was the affordable and reasonable APR provided by the lenders in Personal Loans’ network. Moreover, users have said they trust this service and rely on it to be safe and secure. The transparency provided in the terms and conditions have been a positive note among customers as well. Overall, people appreciated the rapid application process and how quickly they received their funds in their account.

=> Click Here to Visit the Official Website of Personal Loans

Buying Guide For Beginners: Factors To Keep In Mind Before Choosing A lending Company 

Here are some guidelines to follow as you apply for a personal loan. This guide is perfect if you are new to personal loans and not sure what to look for.

  • Interest Rate

Interest rates are not like the rates of other popular loans. Auto loans can be low, depending on one’s credit, or even 0% for very highly qualified buyers. Mortgage rates are dependent on that day’s rate and the buyer’s credit score. But, even if you have excellent credit and apply for a personal loan, you can expect a higher interest rate.

The reason is that unlike a car or a house, you do not have anything to give back if you fail to repay the loan. An auto can be repossessed, and a home can be foreclosed upon, but a loan you took out for a vacation or an expense is different. Thus, the high risk means high-interest rates.

  • Loan Terms

Unlike a car or a mortgage, the term for the average personal loan is about seven years and under. This is good because you should not be borrowing money for longer than necessary; however, you need to be prepared to pay this loan off relatively quickly. So, make sure the terms you agree to are something you can afford to pay on time, every time.

  • Why You Need It

Personal loans can be a lifesaver when unexpected things happen. The roof begins to leak, the engine on your auto blows, or you have to fly out to help a family member in trouble. Most are quick to pull out the credit card when something like this happens, or worse, hit up a payday lender.

The latter is considered predatory, and the interest rates are alarmingly high and could leave you in a cycle of debt for longer than you would like. However, they are attractive because they get you money fast.

Personal loans through any of the sites we outlined above can get you funds in 24 hours or less on a regular business day. So, if you need cash fast, a personal loan is a legitimate way to get that money.

  • Student Loans

Maybe you are looking into personal loans because you would like to use them to pay off your student loans and take advantage of the lower interest rate. But, before you do that, consider the terms of your current student loan and your prospective loan first.

You may end up losing some of the benefits associated with your student loans, such as income-based payments or benefits for being in a certain field, such as the military, public service, or healthcare. So, make sure to think it over carefully before you borrow.

  • Understand Extras and Fees

Some lenders may attempt to upsell you on various products and services. For example, they may recommend an insurance policy on a loan if you pass away before it is repaid, so your family is not stuck footing the bill.

It is completely up to you if you want something like that on your loan, but do not fall for the lender telling you that it is necessary. If they insist you take it, decline the loan, and look elsewhere.

  • Get It for the Right Reasons

Are you getting a personal loan for something that is not critically needed in life? For example, a vacation or an engagement ring? If so, we strongly advise backing away from the loan and seeking out other methods of getting what you want. It is not a good idea to take out a loan for a vacation, as after the fun is over, you are saddled with hundreds or even thousands to pay back.

And, for the engagement ring, we do not advise beginning a new chapter of life with a massive debt load.

It is also not a great idea to use a personal loan as the down payment for a home. The mortgage lender is not going to like seeing you funding your down payment with borrowed money, and it could also adversely affect your ability to get the mortgage at all.

FAQs Regarding Bad Credit Loans For Unemployed 

Here are the most commonly asked questions by our readers when it comes to personal loans:

Q1. How Does One Qualify to Get a Personal Loan While Unemployed?

There is no collateral required to qualify for a personal loan, so it is going to be largely determined by your income, credit score, credit history, credit report, and your debt. Every lender will vary, but they are usually looking for people with credit scores of 600 and up. Of course, you can find lenders willing to go lower. You will just have to see which loans you qualify for using the websites outlined above.

Q2. Could Getting Prequalified for a Personal Loan Impact My Credit Score?

Usually, no. When you are going for prequalification, it is typically a soft pull. A soft pull does not affect your credit score, but you still get the chance to see what lenders can offer you.

 Q3. What Is a Personal Line of Credit?

A personal line of credit allows you to borrow money, repay the amount, and then borrow again for a set period of time. It can be used when you are not too sure about the amount of money required and you need to have a buffer. Moreover, it is a useful type of loan if you are unemployed. However, a personal line of credit can accrue interest, and you will be expected to pay those charges as well.

Q4. Can You Pay the Loan Back Early? Are There Penalties?

This will largely depend on the lender itself, so make sure you read over those terms carefully before agreeing. Some lenders will charge you a fee, while others will not.

Q4. Why Are the Interest Rates on a Personal Loan Much Higher Than a Mortgage or Auto Loan?

The item itself backs a secured loan given for an auto or a home. Therefore, should you default on the loan, the home will be foreclosed upon, or the auto repossessed. This is not the case for a personal loan, so the risk the lender takes loaning you that money is much higher. Thus, the interest rate reflects that.

Q6. What Is an Origination Fee?

This is the cost of processing a loan, and it will vary depending on the lender you go with. Some lenders do not charge such a fee but will raise the interest rate as a means of making up the cost of processing your loan.

Conclusion: Can I Get A Personal Loan If I Am Unemployed?

We hope this article has been helpful for you in your search for a personal loan. Ultimately, you should only borrow for things you need, and do not take out more than you can comfortably repay.

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