Guide to improve the way for getting a loan for Unemployed in the Philippines

July 17, 2019 | By | Reply More

Today if you are looking for a new workplace, it is necessary to have some money. No matter what you are seeking for, whether you are interested in a regular job or plan to be a freelancer at home, you just will need money and limited cash can become a trouble on your way.

It is usually important to have a net banking income refining before applying to any of the companies you consider appropriate. Do not forget to get some pocket money for transportation as the planned interview can definitely be somewhere far from home and it will be necessary to get there by transport. When you have a great desire to work as a freelancer, be sure you have a stable and quick internet connection, as well as a good laptop with all the essential programs package. Otherwise, no one will be interested in your application. 

Cashwagon loans for unemployed in the Philippines
Cashwagon loans for unemployed in the Philippines

But again, if you do not have any work and stay at home as a housewife of a seaman, and suddenly it happened that your children have problems with health, it can be very difficult to find the necessary cash for treatment and medicals when your allotment is too far for several weeks. That is why Filipinos really need a loan for unemployed. 

Still, here is an interesting question:

How to get a loan being unemployed

and where are these loans available?

According to the statistics of a special Philippine Authority, there are more than 5 percent of the unemployed in the country. Formally, the unemployed are those who are fifteen and do not have any work at the moment but currently, they are seeking for some work. Very often this group of people are interested in a new job but still for different reasons they postpone the actual search of it.

The category of unemployed Filipinos may encompass:

  • The students of the college who have the desire to work, in most cases as employees of a part-time schedule to gain money for allowance and normal living. Too many students from the provinces who currently have some work to earn for living end eavour to keep body and soul together and, at the same time, want to graduate to be sure they will have a great future. 
  • Filipinos who a short time ago resigned from their last workplace and are in expectation of a call from a work-giver abroad to become an overseas foreign worker. 
  • Women who stay at home for various reasons as housewives in most cases caring for the kids. Of course, they very often may have former careers, but now they are setting it aside to concentrate on their family members and life inside of the family. 
  • Graduates who have just finished their education and are looking for their new and starting job to move ahead and get some experience in their careers but it is necessary for them to fulfill diverse requirements. The majority of them aim to become high-level professionals but they need to pay a lot for exams and licensure reviews. 
  • A working population who became the victims of a stuffing cut or whose contracts have been closed require money to come with the problems and feed their families and simultaneously search for a new job.

Despite all these people are from various population groups, they all have one common feature, and that is a temporary absence of stable income. This very condition makes the process of receiving a loan even more complicated. We do not like any financial troubles but need to cope with them reasonably from time to time. 

In case you are unemployed, Filipinos banks and common lenders will not approve your loan application as you have such a permanent status. It goes without saying that lenders provide loans most of all to those who have a stable salary per month and can use it for paying back the necessary sum of money timely. 

Thank God, everything has changed from that austere times. We have currently many reliable online lending services who can even approve loans for students, senior citizens, new graduates, and housewives. Moreover, those people who do not work at the moment and need unexpectedly for them some sum of money can easily get a personal loan to solve different financial questions, as for instance: to pay for utility, housing rent, domestic repairs, college fees, treatment bills and so on.

Where can you find a loan for unemployed in the Philippines?

Loans for unemployed Philippines
Loans for unemployed in Philippines

Without any doubt, every lender will state before the borrower to be ready to present their monthly income, namely – salary they get. This fact will guarantee that the person can pay the loan timely without delays. And it does not implicate that the unemployed borrower can’t be proper for taking a loan. 

The most popular are:

What to do if you do not have a bank account in the Philippines: Loan opportunities

According to the special financial survey, there are only 23% of the population in the Philippines who have stable bank accounts.  In terms of the following statistics, almost 53 million adults in the Philippines do not have an account in a bank and they recognize that they are not able to have one because of lack of money. Thanks to contemporary financial approaches there are still several ways of getting some cash even if you are unemployed or do not have bank account in this country.

Ask your friends and family

It’s a common thing for everyone to ask a friend or relative for financial assistance. As this is not anything new in every culture. On the whole, when we want instant loans, we can visit our neighbors and close people to borrow cash in such a way if they can help. But, to tell the truth, this method of getting money quickly and without future problems is not very convenient. It may even provoke various unpleasant moments, conflicts and arguments among close people. Relationships are above all things.

Pawnshop as a good-old way of getting money

The sort of places like pawnshops are extremely popular and widespread today. People can easily find them in almost every city in the country. They are accepted as a cash remittance spot. Here are several facts concerning pawnshops:

  • It is very easy to find a pawnshop if you need it right now;
  • If there is the necessity to get cash instantly, you can do it even without a bank account. As soon as your valuable thing has been evaluated, the person who works there will give you the money at once;
  • It is possible to pawn whatever you want, for example, smartphone, PC, some expensive watches, branded bags or jewelry; 
  • In most cases, the sum of money that you can actually borrow is extremely narrowed to the value of the appraised value. 

In case you are late with your payment for a loan, you will not get back your pawned thing, as all the items the borrowers have not paid for timely will be sold off in a short period of time.

Emergency loans for unemployed

Emergency loans for unemployed in the Philippines
Emergency loans for unemployed

Life is unpredictable, that is why the unemployed people in the Philippines have an additional saving methods to get cash loans for emergency needs easily. You can feel relief when you know that there is a way out in a certain financial circumstances, especially when you need some cash at the moment. 

State Security Service (SSS): Unemployment Insurance

It is usually unpleasant and very frightful to lose the job, especially if you have a big family and need to feed them. Thanks God here is a special public service that provides the unemployed with certain benefits for living for the time of finding a new job. Such kind of financial assistance as SSS unemployment insurance is not perceived s a loan but still it is some cash you can use if suddenly you were terminated or downsized. People who simply resigned from their workplace are not in the following category of getting the state benefits. It comes only about those who have been forcedly set apart from work. Due to this opportunity, one can obtain up to 50% of an average wage for month but, as practice shows, it is usually not more than P10 thousand per month. A person can take this money for 2 months that can definitely help everyone to take a new good job. 

Some facts important to remember:

  • It is not necessary to pay back the following SSS benefit. In case of a sudden redundancy, this kind of financial assistance can really help
  • Take this financial aid for 2 months at no greater than P10K per one month
  • The following sum of money may not be enough if you have many family members to feed and care
  • You will not be eligible if you give up your job personally. 

Allottee Loan on the Internet

Those who are unemployed and get a systematic remittance every month from parents, children, husband or wife are qualified to apply for an Overseas Foreign Workers allottee loan or, in other words, so-called Seafarer allottee loan.

Here, on this website you can find out different types of loans to solve your temporary financial troubles. Speaking about the online allottee loan, this kind of loan can be helpful for college students, housewives and citizens of advanced years who may need sometimes additional cash for personal purposes. 

If you belong to the list of OFW allottees, all you need before getting some extra cash is to sign up in the online system and submit the following documents online (through uploading):

  • Active ID issued by the Government
  • The Passport of OFW
  • Valid Work Visa
  • Most recent proof of Billing
  • True certificate on remittance (under allottee’s name) 
  • Marriage or birth certificate (to show that you are standing with someone).

Personal Loan and Everything about It

One more way to receive a loan if you do not have any job is to ask your beloved to take on a loan. As a spouse, child or father/mother is employed, he or she has no difficulty with getting a loan and obtain the cash during a day.

It is important for them to have:

  • Active ID issued by the Government
  • Company ID
  • Salary slip per last month
  • Most recent billing proof

Essential information on getting a loan

  • Advance Loans website contains the list of financial companies where the personal loan application is available in the online version. 
  • The necessary sum of money will be disbursed about an hour or sometimes up to one day depending on the period of submitting the full pack of docs online.
  • Try a special loan calculator to estimate all possible variants of getting a loan and see what is good for you and easy to payback.
  • Widespread fixed the low interest rates are really very attractive for many users, as they offer convenient payment variants: every week, twice a week or once per month. 

Advantages of online cash loans for unemployed clients

Advantages of online cash loans for unemployed clients
Advantages of online cash loans for unemployed clients

Do not want to wait long for getting the cash? Due to top-notch technology, Filipinos can currently apply and receive loans through the Internet. All you need is to choose the right online service before applying, sign up there online and deliver the list of the necessary documents. These simple steps will guaranty that today you will receive the required sum of money quickly and without any troubles and delays.

Despite the fact of your unemployment, you can still have many great advantages from cash loans, as for example:

  1. Loan approval the same day as applying,
  2. Rally flexible conditions of repayment (every week, month or twice a week) according to your preferences,
  3. Safe and guaranteed transactions, 
  4. Loan account privacy for every user,
  5. Loan calculator availability that provides full transparency of future actions and payments, 
  6. Rival interest rates,
  7. There is no necessity to grant any collateral or guarantor at all.

Moreover, online cash loans presented by registered services online are diligently designed for borrowers who are interested only in micro-financing. It becomes possible for everyone to loan from P5,000 to P30,000 pesos.

Loan Services for Unemployed: Online Loan Calculator

Sometimes it happens when people are not able to repay the money they get, because the traditional loan offers, especially those in banks, hide many nuances the borrowers should know before applying. The information concerning the period people have to pay and on the general interest is essential for every loan borrower.

Thanks to new technologies we can easily evaluate these aspects and understand practically how much it is possible to take, the charge of interest and day of final payment back. Loan calculators will definitely give you more convenient view of your loan application because:  

  • You do not need to go to the office for applying, just choose here what services are available in the Philippines online for getting a loan and use a special calculator to be more confident.
  • Simply count and decide how much you need to borrow online.
  • Various payment conditions will help you to analyze everything, compare and see what is the best for you personally. 
  • It is also possible to choose the disbursement date as well as dates of payment in accordance with your own financial capacity.

Something More for Consideration

We all understand that life is not a bed of roses, and absence of job can bring to desperate financial conditions. Such easy cash loan is a real “safety ring” for people to close the gap when daily living needs are becoming very expensive as well as current tuition fees. It’s a traditional thing for Filipinos to get a loan, and according to the survey, approximately 8 in every 10 adult there know how to borrow some cash.

Although a lot of neighboring countries are striving to live with virtual money, all the same, a cash loan is considered numero uno option of go-to funding in the Philippines. Look through the list of offered trusted online lenders on Advance Loans website.

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