How Can I Borrow Money Without a Job?

A steady income is one of the essential components of borrowing money responsibly. However, in some cases you may need to borrow even when you don't have a job. Emergency expenses such as home repairs or medical bills can't wait until you find a job. Without a job, your options are limited, but you still might be able to borrow to fulfill your need.

From Friends and Family

Friends and family members may be willing to lend you money even if you don't have a job. In these cases, you may rely on your past history of borrowing or lending money to ask for the favor. To make someone feel more comfortable extending a personal loan, offer to draw up a contract that states how much you borrowed and when you must pay it back. Your contract should also include any interest you plan to pay on the money you borrow.

Using Unemployment Income

If you are unemployed and receive unemployment benefits from your state, that income can allow you to get a loan in certain situations. For example, if you are seasonally unemployed and have a history of periodic work income, a bank may be willing to extend a mortgage loan or auto loan, even if you're without a job. The fact that unemployment benefits are limited both in length and amount reduces how much you can expect to borrow based on unemployment income.

Against Your Car

If you own your car, you can use it as collateral to borrow money, even without a job. Auto title loans, also known as pink-slip loans, use your vehicle as security. Lenders will allow you to borrow an amount based on a percentage of the car's market value, and if you fail to repay your loan, you risk losing your car. However, auto title loans usually don't require a credit check or proof of employment, which means you can get access to fast cash without a job.


Borrowing money is always a risk, and doing so without the income of a job is even more dangerous. Auto title loans, for example, charge high interest rates that make them even more expensive to pay back. If you're unemployed but want to borrow because you expect to have income in the future, consider what will happen if your plans for employment don't work out and you remain without a job longer than expected. Even personal loans are risky, threatening to strain your relationships if you can't pay them back. Make sure that you only borrow money without a job when it's absolutely necessary, and borrow only as much as you need.

references & resources