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Loan For Unemployed With Jacaranda
What are your loan options if you’re unemployed?
Trying to secure finance when you’re unemployed or receiving government benefits can be difficult, to say the least. Many traditional lenders like banks or credit unions are incredibly unwilling to help people out if they aren’t receiving a working income and don’t want to take the risk or the time. Or, the only loan terms they offer you are ridiculous and not realistic in the least. This can be a pretty tough learning curve when you’re already in a bit of a tight situation money-wise and are trying to figure out what your options are. It can seem pretty hopeless, right? Maybe not. Did you know that loans for unemployed people are becoming more and more popular?
This is where Jacaranda comes into the picture. We’re here to mix things up a bit and make sure that any and all Australians have the chance to get the finance they need, regardless of whether they receive benefits or not. How are we going to do this? By offering loans for unemployed people of course! Has your attention been spiked? Good! Read on to see just how we’re changing the game and making finance accessible for all Aussies.
What are loans for unemployed people?
Loans for unemployed people are short term loans that are designed for those of us who are not currently employed. They’re particularly helpful for those of us who are not working or are not working full time but need a bit of a cash injection to see them through. They can range from $300 up to $10,000 and can be either secured or unsecured loans, depending on your needs. They can also be used for a variety of different reasons. What kind of reasons you ask? Take a look!
The list could go on! There are so many reasons that you could apply for loans for unemployed people. We really have heard them all!
Am I eligible to apply?
We don’t require a lot from you in order to be eligible to apply. If you can meet the following criteria, then feel free to submit an application and see how we could help you out with loans for unemployed!
- You must be at least 18-years of age at the time of application;
- You must have an active Australian phone number and email address;
- You must have internet banking set up.
- You must be an Australian citizen or permanent resident;
- You must have a regular Centrelink benefit for at least the last 3-months being deposited into a personal bank account;
Do you meet these criteria? If you were able to tick yes to everything, then apply now and you could have your money in your bank in as little as 60-minutes if you applied during business hours!
What personal documentation do you need from me?
In order to submit your application for loans for unemployed people, we need a few key pieces of information from you first. It’s pretty simple information, so don’t feel the need to run off and start trying to hunt down heaps of unnecessary paperwork. Just provide the following for us and we’ll be able to get your application off to a speedy start:
- Your personal details – including name, address, DOB, phone number;
- Your employment details and contact information (only applicable if you’re also working a part-time job as well as receiving benefits – if you’re not working, no worries, just skip this step!);
- Your MyGov login details so that we can grab a read-only copy of your Centrelink Income Statement;
- Your reason for applying for loans for unemployed;
- Your internet banking details – so we can secure a read-only copy of your most recent bank statements;
- 100 points of ID, proving that you’re an Australian citizen or permanent resident.
Send this information through with your initial application and the whole process will seem like an absolute breeze.
What kind of loans does Jacaranda offer?
We have a few different loans for unemployed people on offer to our valued customers. Take a look at the available options and see if anything jumps out at you. Each loan product will have different benefits, so are great for people with different circumstances. See what we have to offer here!
|Loan type||Loan amount||Loan term|
|Unsecured||$300 to $2,000||9 to 12 months|
|Secured||$2,001 to $4,600||13 to 24 months|
|Secured||$5,000 to $10,000||13 to 24 months|
How do I submit an application for loans for unemployed people?
Submitting an application with Jacaranda couldn’t be easier. We’re 100% paper-free, online and stress-free. This basically means that we’re about as easy as you can get! We don’t need any unnecessary paperwork, you can apply from anywhere at any time and our application process is as easy as 1, 2, 3! Don’t believe us? Take a quick look and see just how quick and simple it is.
Scroll up to the top of our website and have a play around with our handy loan calculator. Let us know how much you’re looking to borrow, for how long and how often you would like to make your repayments. Next click on the ‘Apply Now’ button to get your application off to a quick and successful start.
Now we’ll grab a few important details from you such as your name, DOB, employment status and your reason for applying for loans for unemployed. This part of your application is super straightforward and should only take you a few minutes, we’re simply trying to get to know you a little better. Hit the ‘submit’ button once you’re happy with your answers and your application will shoot straight through to us.
You’re almost done
From here it’s all up to our team of talented assessors to get to work on your application. Our team will conduct a thorough assessment of your application. They’ll get to work confirming that the loan that you applied for is suitable for your needs and that your repayments will be reasonable for your financial situation. Depending on whether or not you applied during business hours, you could have your outcome in as little as 60-minutes*!
If we need any further information from you in regards to your application we’ll get in contact via email, SMS or phone.
Keep in mind that if you applied outside of our business hours (AEST) you may not hear from us straight away. But, don’t panic too much, we’ll get back to you first thing next business day!
You’ve been successful, we’ll give you a phone call to go over the contract that our team has drawn up for you. We do this to ensure that you thoroughly understand your contract terms and agreement and to make sure you’re happy with what we have offered you. Remember to take note of your repayments dates and amounts as well as any fees or charges that could incur if you have a missed or failed payment. Once you’re happy with your contract simply sign it for us and send it back.
Once we have received your signed contract we’ll release your cash straight into your personal bank account. Depending on what bank you’re with, you could have your funds in your account in as little as 60-seconds (for NPP enabled bank accounts)! Otherwise, you should see your cash in your account within the next few hours, or at the very latest, overnight that night.
We guarantee super easy, fast and simple applications. None of us has time to wait hours in a line to see a bank manager and we’ve developed our application process with this in mind. Fast, convenient and simple. How good is that?
Can I get a loan if I am unemployed?
Yes, you can apply with Jacaranda if you’re unemployed! As long as you’re receiving Centrelink or government benefits, you’re eligible to apply! You don’t have to have a working income to be able to apply for one of Jacaranda’s handy loans for unemployed people! Many traditional lenders won’t give you the time of day or will hit your application with an automatic ‘Declined’ stamp, without even giving you a proper assessment or chance. We don’t think that’s very fair.
We know just how hard it can be trying to secure finance when you’re receiving Centrelink benefits. We believe that everyone deserves a fair go and should be given the chance to get the funding they need when they’re in a tight spot. This is why we developed loans for unemployed people. We’ll give you the fair go you deserve and don’t judge you for receiving Centrelink benefits. That’s the Jacaranda guarantee.
What’s the difference between unsecured and secured loans?
The difference between unsecured loans for unemployed people and secured loans for unemployed people is how the loan is ‘secured’ or guaranteed. With our medium to larger loans of $2,001 to $10,000, you’re required to provide a vehicle such as a car or motorbike of some kind as security or collateral. This means that if anything were to happen to your loan or the repayments weren’t being made for some reason, we would legally be able to use the vehicle provided as collateral. This is a worst-case scenario, however, and very rarely happens. It is more of a safeguard for both you and your lender and is simply a way to guarantee the loan.
For our smaller unsecured short term loans of $300 up to $2,000, we do not require you to provide any security such as a car or vehicle. In this type of loan, the lender assumes more risk as they do not have that collateral or security securing the loan, which is why it’s a slightly smaller loan amount. This is a great option for those who aren’t looking for a large loan and just need a bit of cash, fast. It’s also a great option for those people who do not own a car or vehicle to use as security for the larger loans.
And that’s the difference between secured and unsecured loans. As you can see, the loans are pretty simple but have the capacity to be really helpful when you need that helping hand, large or small. Here at Jacaranda, we offer both, so why not apply for whichever would suit you most and see what happens?
What are you waiting for?
If it sounds like Jacaranda’s loans for unemployed people might just be your thing, why not submit an application and see how we can help you out? You’d be surprised at just how good we are. Boasting services such as 100% online, paper-free, stress-free applications, it’d be crazy not to submit an application. Why wait? Apply now!
Got some questions for us? Want to know how we can help you out? No worries! Get in touch with us