Mini loan for the unemployed: Which providers are there?

March 28, 2019 0 Comments

A mini loan for the unemployed – can it be? In times of macroeconomic crises, crises in individual sectors or even serious management mistakes in companies of any kind, the first victims are usually the employees. On their back then unfortunately very often attempts in the form of redundancies or at least shorter working hours to cope with the economic crisis in the company. The threat of unemployment is probably an economic, if not the most serious, incision in a person’s life. Especially when there is a fundamentally available, full ability to work. All of a sudden, there is no income and the unemployment benefit is far from enough to cover the running costs.

Happy the one who has managed to save a bit over the years. These reserves could be used in such a situation. But what about those people who do not have such financial reserves or simply could not form them? Can a loan help here or a mini loan for temporary bridging? Is there a mini-loan for the unemployed at all? And if so, which mini loan provider awards such loans? What should be considered in such a loan offer? Questions about questions that are all justified and deserve valuable answers.

Unemployment loan from the house bank? a dream!

Unemployment loan from the house bank? a dream!

People who are unemployed sooner or later face some serious financial problems. Especially if a large number of payment obligations still exist and can not be reduced. Be it in the form of rent, electricity bills, taxes, etc. In most cases, the unemployment benefit granted must be largely spent in order to avoid additional damage due to delays in these financial obligations. The result is often that then at the middle of the month there is hardly any money left for shopping. Which means that from this moment on you have to turn the euro over more than once.

An unsatisfactory situation from which the mental decision is often made to take out a loan to bridge the unemployment phase. After all, one is at best at his house bank a valued customer, has a long-term unpolluted relationship and also a hitherto pure private credit vest. So the house bank should show understanding for their own situation as well as not self-inflicted unemployment. The desired bridging loan should be feasible. Thus, small installments appear affordable and nurtures the hope of the bank to obtain a loan.

Credit for the unemployed – the “sad” reality

Unfortunately, in most cases, the reality is completely different! The fact is that a “classic” loan for the unemployed is simply a fairy tale. Such a loan offer simply does not exist. Banks grant a classic loan of any kind (installment credit and / or discretionary credit) only to fixed terms. Thus, a fixed and, above all, regular income from an employment relationship must be proven. This means, on the one hand, that you are definitely not allowed to be in the probationary period as a loan applicant. On the other hand, the employment relationship must be uninterrupted. If even a single point of this can not be confirmed to the bank, after only a few minutes it has completely settled with the application for a loan.

Credit for unemployed: Caution – risk of ripping off!

Credit for unemployed: Caution - risk of ripping off!

And yet: Anyone who enters the term “credit for the unemployed” or “mini-credit for the unemployed” on the Internet, currently receives a whopping 300,000 results. So one would think that with this number of offers for an unemployment loan or mini loan for unemployed at least one or the other acceptable loan offer is. But care: Almost everyone who offers such a loan offer, should be treated with caution. In plain language that means: Dubios! Many supposed credit intermediaries and “alleged” credit providers use the financial hardship of the loan seekers, especially when they are unemployed. They often promise credit seekers the “blue” from the “credit heaven”. The goal is often to lure potential customers into the so-called “pre-cash trap”. This will then be sent for cash on delivery fee of often 200 € and more basically worthless documents. Of course, the promised loan does not exist!

The mini loan for the unemployed is not a utopia

The mini loan for the unemployed is not a utopia

So the question arises, if there is not somewhere or maybe somehow a loan for the unemployed? In fact, there have been offers in the market for a short time, which at least make it possible, for a small period of time, to use a small loan to bridge a financial shortage, even in the case of existing unemployment. We are talking about the mini-loan for the unemployed mentioned earlier in this article. Such a loan can not be compared to a classic installment loan from the bank. Nor with the frequently used credit line. But that is precisely the advantage of a mini-loan for the unemployed.

Those mini-credit providers, who also grant a short-term, temporary loan to the unemployed, differ significantly in the risk assessment of an unemployed customer from the conventional banks and in a clearly positive sense. Due to the short duration of a mini loan for unemployed people of a maximum of 60 days and the equally limited loan amount of mostly 600 euros, the providers of such mini-loans often only have proof that a monthly income of at least 700 euros is available.

700 euros minimum income as the basis for an unemployment mini- credit

It is completely irrelevant whether this is “income” from a regular employment or just to the so-called ALG 1 salary, ie unemployment benefits. Equally positive about these new loan offers is that even if you are in unemployment, but until now has a flawless private credit, when claiming a mini-loan for the unemployed, no guarantor or other collateral such as the purchase of appropriate insurance must be made, All factors that make a mini loan attractive to the unemployed. And, in fact, these mini-loan offerings are regulated and supervised loan offerings, and thus the risk of fraudulent bidding simply does not exist!

Viloan is the best provider of a mini loan for the unemployed

Viloan is the best provider of a mini loan for the unemployed

However, it can not generally be assumed that every mini-loan provider is also willing to provide a short-term loan to an unemployed applicant. For example, behind Targobank’s mini-loan offer is a classic bank. It should be clear that here generally the same procurement guidelines as in a conventional installment loan application. This means: Without a job certificate no credit! A mini loan provider, which is known to provide a mini-loan for the unemployed, is the financial service provider Viloan, which we also introduce here, as a brand of Demor Bank from Malta.

Requirements of Viloan mini-loan for the unemployed

When applying for a mini loan or a short-term loan, Viloan only assumes that the own private credit is not overburdened. In addition, a monthly income of at least 700 euros should be demonstrated by the borrower. If these two basic conditions are met, there should be nothing in the way of obtaining a mini-loan for the unemployed. All necessary and just as helpful information on Viloan’s mini loan offer is available in our main section on this mini loan provider.

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