Are You Looking for Cash Advance on Unemployment Benefits?
You might have some expenses waiting for you, and it's worse when financial emergencies occur if you lose your job. Where then do you turn to for quick funding? Borrowing money from friends or relatives comes with embarrassment.
However, you can apply for cash advances through cash advance apps. Lenders will just need proof that you're receiving unemployment benefits such as a pension, ex-service benefits, unemployment compensation from the federal government, ex-service members compensation, etc. You will also not need an excellent credit score or collateral to apply for an unemployment cash advance.
Five Best Cash Advance Apps with Unemployment Benefits
When getting cash advances with unemployment benefits, it's always good to find the best lending platforms on the market. Here are some of the top 5 cash advance apps you can consider;
VIVA Payday Loans
This lending platform connects you to credible lenders who provide payday loans for the unemployed. Loan amounts depend on your creditworthiness and ability to repay the cash advance on schedule. However, even if you have a bad credit score, you can always get a good credit deal on ViVa Payday Loans.
Lenders on this lending platform make loan decisions within a few minutes after reviewing your financial and personal information which means the funding is just around the corner. VIVA Payday Loans lending platform is available 24/7, so you can apply for cash advance anytime even at night oring during holidays.
You can also apply for cash advances via EARNIN APP, a convenient lending platform accessible across all devices. Once you allow the App to access your bank account details, EARNIN App will analyze your financial information and offer you a cash advance whenever you need money for emergencies. Besides, if you get a cash advance, the App will automatically deduct it from your bank account on your paycheck.
DAVE App is another top lending platform that helps you get loans to keep you going as you wait for your next payday. Borrowers are allowed to take cash advances of up to $200. However, the lending platform does not charge interest rates on cash advances. Instead, the App users pay a monthly subscription fee of $1.
The loan processing takes about 3 days. Moreover, the app charges $1.99 - $5.99 for fast loan funding services. DAVE App is not only a lending app but also a good platform to apply for part-time or full-time jobs.
BRIGIT is a versatile cash advance App. It helps you with financial planning as well as helps you access credit. The App calculates your monthly income, and expenses and automatically transfers the balance into your savings account. Furthermore, you can apply for short-term cash advances at any time to settle financial emergencies.
The loan amounts range between $50 - $250 and all applications are processed within 48 hours so you can be sure of getting the money within a short time. However, you will have to pay a monthly subscription fee of 9.99% to continue using this lending app.
This cash advance App offers loans at zero interest rates. Applicants can only take out cash advances of up to $250. Besides, all applicants, even those with bad credit history, are still considered for cash advances. The App does not charge any monthly fees.
However, MoneyLion charges a 3.99% instant loan processing fee. The fee applies to borrowers who need cash within minutes. If you don’t want to pay the fast loan processing fees, you will have to wait for 48 hours to get the funds.
How Much Do You Want?
Advantages & Disadvantages of Cash Advance Apps with Unemployment Benefits
The cash advance Apps come in handy anytime you need a small cash advance to cover your urgent financial needs. Like other lending platforms, these loan Apps are beneficial and also have their downsides;
- Fast Funding: Cash advance Apps process loans within minutes and even fund transfer cash into your bank account within a few minutes.
- Convenient Lending Services: Borrowers can apply for loans anytime and get funding without visiting the lender's office.
- Low-Interest Rates: Cash advance Apps charge lower fees and interest rates and some even don't charge interest rates.
- Cash advance Apps only allow applicants to take out small loan amounts, which may not be enough to cover your urgent expenses.
- These apps deduct loan repayments directly from your bank account, leading to overdrafts if they don’t find any cash.
Other Ways to Get Money with No Job
When you’re unemployed, you may find it hard to get cash. However, you can consider the following tips to borrow money for your emergencies;
- You can sell some of your assets or household products online and get the cash you need to solve your financial problems.
- Investing some of your savings could be a good idea if you’re looking for a long-term financial solution.
- You can also consider borrowing money from friends or relatives.