Cash Advance Apps With Unemployment Benefits

Cash Advance Apps With Unemployment Benefits

We analyze here the cash advance apps that work with unemployment benefits, dismissing from all those who require only a job or a gig as source of income.

In our study about the payday loans with unemployment benefits online we did not analyze the cash advance apps because we understand that cash advance apps have other fees and registrations that we do not have with classical payday loans.

Unemployment cash advance apps allow unemployed people to get small cash advances on their next paycheck when they’re close to overdrawing their bank account. They come in handy when you urgently need cash but have no emergency savings to turn to.

Requirements To Obtain Cash Advances Having Unemployment Benefits

The qualification criteria for cash advances are quite easy to meet. In most cases, you just need to;

• Be at least 18 years old;
• Be a US citizen or permanent resident;
• Have a government-issued ID;
• Can prove a regular alternative income source, which can include your unemployment benefits

Comparison Between Payday Loans And Cash Advance Apps With Unemployment Benefits

Payday loans are better than cash advance apps because with the latter you have to pay registrations and other items encompassing a higher APR than with traditional payday loans. Furthermore, in a cash advance app there is a platform that holds the app that gets paid too.

Payday loans with unemployment benefits online can be granted in 1 hour and typically it takes really half an hour or less. In the cash advance apps, the process can take more than one hour.

Cash advance apps require access to your contacts once they are installed while traditional payday loans do not invade your privacy at all, and just want your phone number to inform you that the loan is transferred to your checking account and do not require to install anything inside your phone.

Unemployment payday loans can be granted not only in one hour, but also through a direct lender. Cash advance apps instead, are always aggregators of other lenders who participate. There is no direct lending with the cash advance apps.

Best Unemployment Cash Advance Apps

Unemployment cash advance apps for their worth are a great loan option. However, there are a few factors that make some of these apps stand out from the rest – how easy they are to use, membership fees, if there are any financial, and budgeting tools, overdraft protection features, etc. The following cash advance apps were handpicked by reliable tech advisors as the best in these categories.

Brigit

Brigit is another efficient app to borrow money when you are unemployed. You can borrow up to $250 instantly, but you need to have an active checking account that has received money from the same source for at least two months prior. This ensures that they are lending to people who have an alternative source of income.

Brigit cash advance app is designed to help people avoid overdraft fees, late fees, and other costly financial penalties. The app works by providing users with a small cash advance of up to $250, which is automatically repaid from the borrower’s bank account on their next payday.

To use the Brigit cash advance app, you’ll need to download the app and link your bank account. Brigit will then analyze your spending habits and account balance to determine whether you are at risk of over drafting. If so, the app will send you a notification offering you a cash advance to cover your expenses until your next paycheck.

To qualify for a cash advance from Brigit, you’ll need to meet certain eligibility requirements, including having a regular source of income, citizenship of the U.S.A., 18 years of age, and a positive bank account balance. You’ll also need to pay a monthly subscription fee to use the app, which ranges from $9.99 to $19.99 depending on the features you choose.

The app also allows users to set recurring advances if they think they can overdraw the account. Brigit charges $9.99 per month for this service — along with other premium services. No other charges are involved.

Features 

• Loan Amount: Up to $250
• Loan Term: Until your next payday 
• Interest Rate: None 
• Minimum Required Credit Score: None 
• Stable Income: Needed 
• Monthly Subscription Fee: $9.99 to $19.99
• Loan Funding: 2 to 3 days 

Pros

• The app comes with various useful features that allow you to keep a track of your budget and save money. 
• They do not conduct any credit checks. 
• They offer cash advance for unemployed people. 
• Loan funding within 2 to 3 days of loan approval. 
• One of the best cash advance apps with unemployment benefits. 
• You do not need to have a job, just a stable income is needed. 
• Helps you avoid overdraft fees. 

Cons

• The subscription fee is very high, especially if you want to unlock all the premium features.
• You will need to provide access to your bank details. 
• Low maximum loan amount. 

Sofi

Sofi is an ideal place to go if you desperately need some emergency funding when unemployed. You can qualify for a SoFi loan of $5,000 or more if you have a job offer with a start date that’s within 90 days. And that’s because the job offer points to future income and shows you are creditworthy. Funding is typically processed within one business day. 

One of its strong points is that it has an Unemployment Protection Program, which is available to its members who have a funded Personal Loan in good standing and are unemployed through no fault of their own.

• Perks/Benefits: With SoFi, you can receive loans anywhere from $50 – $5,000. 
• Requirements: If you are looking to obtain higher loan amounts, you must provide proof of a job offer that begins within the following 90 days. 
• Fees: There are generally no fees associated with SoFi. 

MoneyLion

MoneyLion allows you to borrow $25 at a time, up to a maximum of $250 altogether. There are no predetermined income requirements. You only require a 60-day-old checking account and a source of income or periodic payments.

You’ll pay $19.99 a month for membership plus $0.99 to $7.99 for “turbo” rush funding. MoneyLion’s checking accounts, credit builder loans, and other financial services may justify the expense.

It is a mobile app that offers a variety of financial services, including a cash advance feature. The app allows you to link your bank account and receive a cash advance ranging from $25 to $250 with no interest or fees. The cash advance is automatically repaid from your bank account on your next payday.

In addition to the cash advance feature, MoneyLion also offers a range of other financial services, including checking and savings accounts, investment accounts, and credit monitoring. The app also offers a rewards program that allows users to earn cashback on purchases and bonuses for completing certain financial tasks.

If you like their services, you can pay them a tip, but they do not necessarily ask for a fee for their services. They take approximately 2 to 3 days in depositing the loan amount, but if you need the money immediately, you can choose the turbo funding option which comes with a fee of $0.49 to $5.99% and you will receive the funding in just a few minutes. All in all, Money lion is one of the best cash advance apps with unemployment benefits. 

The instant offer is available to the unemployed and those with poor credit. Register on their website, provide the required credentials and apply for a quick loan.

• Perks/Benefits: People who use MoneyLion can enjoy loans up to $250. 
• Requirements: In order to get an emergency loan with MoneyLion, you need to have a bank account that is at least 60 days old and provide proof of some sort of income. 
• Fees: MoneyLion fees include a $12.00 monthly charge and a rush fee that can be anywhere from $0.99 – $7.99. 
• Loan Amount: Up to $250
• Loan Term: Until your next payday
• Minimum required credit score: None 
• Service Fee: $0.00, the tip is allowed 
• Interest Rate: None 
• Loan Funding: Usually within 2 to 3 days. Within minutes with the turbo funding option 

Pros 

• They do not charge any interest. 
• The overdraft is cheap. 
• These loans come with no fee. 
• A good option for bad credit holders or people with no credit history at all. 
• The interface of the app is easy to understand and use. 

Cons

• High turbo fee. 
• Overusing this loan can put you into a debt cycle. 

Klover

Klover is another top pick for the best unemployment cash advance apps in the US. It is a top option for unemployed people who want quick, easy, and instant cash for an emergency.

They offer loans up to $100. So if you need a higher amount, you will need to look for other unemployment cash advance apps. 

Moreover, you will only get a loan from Klover if your age is 18 years or more, you have a stable monthly income and you are a citizen or resident of the U.S.A. They also offer rewards like extra cash and low fee to repeat borrowers who paid their earlier loans timely.

Along with the loan feature, you will also find several other useful features in their application like budgeting tools, expense tracking tools, etc, that will ultimately help you to keep a track of your expenses and save money. Also, you will only be able to get a loan if you give income proof of three previous continuous months. Otherwise, your loan request would simply be denied.

According to their website, you can borrow up to $100 instantly if you have a verifiable source of income such as unemployment benefits or child support.

Klover uses a points system to boost the beginning limit, which is smaller than other cash advance apps. Once a consumer signs up, points begin to accumulate and multiply with app use.

Features 

• Loan Amount: Up to $100
• Loan Term: Until your next payday 
• Interest Rate: None 
• Loan Fee: None 
• Minimum Required Credit Score: Zero or bad credit score 
• Loan Funding: 1 to 2 business days 

Pros 

• They offer cash advance for unemployed people. 
• Ideal option for bad credit holders. 
• They do not charge any interest or fee. 
• One of the best cash advance apps with unemployment benefits. 
• Helps you build your credit score if you repay the loan on time. 
• Job or employment is not needed, you just need to have an income like retirement benefits, alimony, unemployment benefits, etc. 

Cons  

• You will need to link your bank account to the Klover application. 
• The maximum loan amount is very low. 
• You will need to provide income proof. 

Vola Finance

Viola Finance is another app that is great for unemployment.

It is an easy-to-use mobile application that offers loans of up to $300. In order to get a loan from Vola Finance, you need to have at least a $150 balance in your bank account. 

Along with this, you also need to have a bank account with at least 3 months of history, U.S.A. citizenship, 18 years of age, and proof of stable income. If you have all these, then only you will qualify for a Vola Finance loan. As soon as your loan gets approved, they deposit the loan amount into your bank account within a single business day. All in all, Vola Finance is one of the best cash advance apps with unemployment benefits. 

Moreover, Vola Finance only offers loans to people who have their membership which may cost $2.99 to $28.99 per month. So if you do not have a job but have a monthly income and are looking for loans for unemployed mothers or loans for self-employed, then you can definitely consider Vola Finance loans. 

If you meet the eligibility requirements, you can access a loan of up to $300 after you link your bank account. The bank account should be:

• Active for at least three months
• Have a minimum balance of $150
• Have proof of income (have direct deposit and other activity)
• Loan Amount: Up to $300
• Loan Term: Varies 
• Fee and Charges: $2.99 to $28.99 per month
• Minimum Required Credit Score: N/A

The app charges between $2.99 and $28.99 monthly for the services. The app also supports budget analytics and money management tools.

• Perks/Benefits: Vola Finance can provide you with a loan amount of up to $300. 
• Requirements: To use Vola Finance you must have a bank account that is at least three months old with a balance of at least $150 and provide proof of steady income. 
• Fees: Fees for Vola Finance can range from $2.99 to $28.99 a month. 

Pros

• They offer cash advance for unemployed people. 
• The app also comes with financing and budgeting tools. 
• Bad credit holders can also get a loan. 
• They do not ask you for a job or employment proof. 

Cons 

• You need to have a minimum balance account of $150. 
• High fee. 
• You will need to link your bank account with the Vola Finance app. 

SoLo

• Perks/Benefits: SoLo offers loans up to $1,000 free of interest charges. 
• Requirements: While there are no interest charges, borrowers must repay their entire loan within 15 days to avoid late payment fees. 
• Fees: If you pay back your loan on time, there are no fees with SoLo.

Chime

Chime is a well-known money lending application all over the U.S.A. It is one of the best cash advance apps with unemployment benefits. They offer short-term loans of up to $200. In order to get a loan from them, you do not need to buy a subscription. You can just download their application, create your account and apply for a loan in just 5 minutes.

If your loan application is approved, they will deposit the loan into your bank account within one to two business days. The eligibility criteria for a Chime loan are very simple, you need to be a citizen of the U.S.A., your age must be 18 years or more, and you need to have a stable monthly income. 

When you repay a Chime loan on time, they report to all the 3 major credit bureaus, which ultimately results in a credit score boost. Also, there is no extra fee like a service fee or origination fee. If you pay the loan on time, you would not need to pay any interest rate as well. But you need to keep one thing in mind, you will only get a Chime loan if you are already a member of Chime and have a checking account with them. 

Features 

• Loan Amount: Up to $200
• Loan Term: Next Payday 
• Fee: $0.00
• Interest Rate: None 
• Minimum Credit Score: 0
• Loan funding: 1 to 2 business days
• Subscription Fee: None  

Pros 

• They do not charge any interest on their loans. 
• You can track your budget and expenses with their application. 
• Fast loan deposit, just within 1 to 2 days after loan approval. 
• You do not need to have any minimum credit score, even bad credit score holders or people with no credit history at all can get this loan. 

Cons 

• You will only get a loan if you already have a Chime checking account. 
• They only offer small loans. 

• Perks/Benefits: Chime offers users overdraft protection for up to $200, so you can avoid overdraft fees on your checking account. 
• Requirements: Borrowers must have a bank account that has received at least $200 in direct deposits in the last 34 days. 
• Fees: There are typically no fees to use Chime. 

FloatMe

• Perks/Benefits: FloatMe is an app that allows users to receive small loans of $50. 
• Requirements: In order to receive an unemployment emergency loan from FloatMe, you need to have an active checking account that has received a minimum of three direct deposits of at least $200 or more. 
• Fees: FloatMe comes with a $1.99 monthly fee, as well as a $4 “rush” fee for users looking to receive instant loans. 

Dave

They offer small loans of up to $500. Not just they help you with the money, but they also help you build your credit score if you repay the loan on time. 

Also, they do not conduct an inquiry about your credit so your credit score does not really matter. All that matters is your monthly income. The loan amount will only depend on your payday and monthly income. You also get budgeting tools in their application. 

Moreover, they do not charge any fee for their services, but if you are satisfied with their services, you can give them a tip. You need to repay this loan on your next payday and there would be no interest. But if you delay the payment for the loan, you will need to pay high interest on it. 

If you want to get a loan from Dave, you will need to buy their monthly subscription which costs $1.00. Also, if you want the money to be deposited immediately, you will need to pay an extra fee of $0.99 to $6.99, depending upon your loan amount. Otherwise, the loan deposit can take up to 3 days. 

In this update, we know that Dave is not working anymore with unemployment benefits.

Features 

• Maximum Loan Amount: $500
• Preferred Credit Score: None 
• Interest Rate: None 
• Subscription Fee: $1.00
• Loan Funding: Up to 3 days after loan approval
• Fee: Optional
• Minimum Monthly Income: $1,000
• Loan Term: Until next payday

Pros

• They do not check your credit. 
• The fee is optional, you can pay them a tip if you like their services. 
• Good ratings and reviews online. 
• They do not charge any interest. 
• They offer cash advance for unemployed people. 
• They also offer budgeting tools in their application which allows you to keep a track of your budget. 
• You do not necessarily need to have a job, you can get cash advance on unemployment benefits as well. 

Cons

• You need to have a monthly income of at least $1,000. 
• The loan repayment terms are really short. 

Earnin

Earnin is a mobile app that allows you to get a short-term loan whenever you need some money urgently. It is one of the best apps that loan you money instantly without a job. Users can link the app to their bank account and receive a loan ranging from $100 to $500. Also, if you repay the loan on time, you will not need to pay any interest. 

Earnin does not charge interest on the money it lends, but it does offer a “tip” system, where users can voluntarily pay a fee for the service. The app also offers features like balance tracking, bill reminders, and a “Cash Out” option for users who need money before their next payday.

The best thing about Earnin is, they do not check your credit before offering you a loan, so no matter how bad your credit score is, if you have a stable monthly income, you will surely get a loan. But you will need to share your bank account information, and they will only give you a loan if your bank account balance is at least 50% of the total loan amount that you are demanding. 

Features 

• Loan Amount: Up to $500
• Loan Term: Next Payday 
• Interest Rate: No interest if you repay the loan on time
• Loan Funding: Same-day deposit
• Minimum Credit Score Needed: None or bad credit 
• Loan Fee: None, though you can pay a tip

Pros

• You do not need to pay any fee, you can pay if you like the services of Earnin.
• They do not harm your credit by conducting a credit check.
• They offer cash advance for unemployed people. 
• The loan helps you improve your credit score by repaying the loan on time. 
• You will get the loan amount in your bank account within the same day. 
• You can use this loan for multiple purposes. 

Cons

• Your loan request would be denied if you do not have a minimum required account balance. 
• They might ask you to share your personal details like bank account information. 
• Some users have reported that the interest rate increases if you pay a low tip to them.

o $200 arranged in tabular form.

Cash Advance Apps Accepting Unemployment Benefits	Loan Amouns	APR
Klover	Up to $250	$2.49 per month
SoLo Funds	Up to $2000	Free/month and late fees of up to 15% + $5
Brigit	Up to $250	$9.99/month
Chime SpotMe	Up to $200	$0/month
MoneyMutual	Up to $5000	Not available
Grain	Up to $200	15% – 17%
Earnin	No fixed	$3.99/$100 loan
MoneyLion	Up to $500	About $5/month
PossibleFinance	Up to $200

Pros And Cons Of Cash Advance Apps With Unemployment Benefits

I will analyze the pros and cons of these cash advance apps that accept unemployment benefits as the source of verifiable income.

Pros

1. Quick Access to Funds

Unemployment cash advance apps may offer faster access to funds compared to traditional methods such as paper checks. Where banks and credit unions take weeks to deposit the loan amount, these apps send you money just within a few minutes of approval. 

2. Convenience

These apps can be used from the comfort of your own home. You just need your mobile phone or laptop and a stable internet connection. You do not need to run to the bank or credit union again and again. 

3. Flexibility

Some apps may allow you to choose how much loan you want to access. You can also decide your loan repayment date. This results in greater control over your finances. Moreover, some apps might also allow you to get multiple loans and change your loan repayment date. 

4. No Credit Check

Most apps do not require a credit check, which can be helpful for those with poor credit or no credit history. Also, no credit check means that they do not conduct a soft or hard inquiry of your credit score so you do not need to go through unnecessary credit pull. Hence, it does not harm your credit score in any way. 

5. Lower Fees

Some unemployment cash advance apps may charge lower fees compared to traditional payday loans or other forms of short-term lending. But this would only be possible if your credit score is good to excellent. Because due to high creditworthiness, the lender will offer you low-interest and low-fee loans. 

Cons

1. High-Interest Rate and Fee

While some apps may charge lower fees compared to traditional payday loans, the fee for a cash advance on unemployment benefits can still be high. It’s important to carefully review the fees and terms before using the service.

2. Dependence on Technology

Unemployment cash advance apps require a smartphone or computer and an internet connection, which can be a barrier for those who don’t have access to these resources. Many people still do not have mobile phones or the internet. 

3. Risk of Fraud

Scammers may create fake cash advance apps or try to trick users into giving away their personal information. It’s important to verify the legitimacy of the app before using it and to be cautious about sharing personal information. Make sure that you check the rating and reviews of the app before applying for a loan. 

4. Impact on Future Benefits

Taking a cash advance on unemployment benefits could reduce the number of benefits you receive in the future, as your weekly benefit amount may be adjusted to account for the advance.

5. Potential for Debt Cycle

If you repeatedly use unemployment cash advance apps, you could find yourself stuck in a cycle of debt that is difficult to break. If you are not able to manage the loan, you will need to take another loan to consolidate this debt, and it can throw you into an unending debt cycle.

What Are Other Financing Options Besides Payday Loans When I Don’t Have a Job?

Fortunately, there are many other options people have available besides payday lending when you need to borrow money. 

Below is more information on some popular emergency loans unemployed you can utilize. 

Personal Installment Emergency Loans

Installment loans are a type of personal loan that offers emergency funding to people with bad credit, good credit, or even no credit at all. Furthermore, many installment loans come with industry-wide competitive interest rates. If you have a poor credit score and are looking for funding while unemployed, simply fill out a quick online form to find out how much funding you may be approved for. After you fill out the loan application and are approved, you can expect to have funds in your bank account in 24 hours or less. Funding for personal installment loans are traditionally delivered via direct deposit. 

Most lenders for installment loans also offer other versatile perks like:

• Long or short-term loans. 
• Personalized payment plan.
• Top-notch customer service representatives. 

Car Title Loans

Car title loans are secured loans that require you to put up their vehicle title as collateral. Since title loans are secured, you may be able to receive fast loan approval without having a good credit score. However, the loan agreement for most title loans gives borrowers a very short amount of time to pay back their funding. Borrowers who do not pay back their title loans within the short terms given will usually face a high-interest rate or even run the risk of having their vehicle repossessed. 

Credit Card Cash Advance Loan 

Cash advances are an option for people who have a qualifying credit card. By using your credit card to get a cash advance, you can take out money up to $1,000 or your credit limit. But, keep in mind that the interest charges on credit card cash advances tend to be higher than regular credit card purchases. So, think twice before getting a cash advance when unemployed. 

Credit Cards

Unemployed people can also use their credit cards directly to make purchases. While a revolving line of credit like a credit card can be useful during hard financial times, it can be easy to fall into a cycle of debt. Credit card debt is one of the most common financial hardships Americans face, to make sure you can pay off your balance regularly before you get into the habit of using your credit card. 

Bank Loans

If you have a high credit score and a clean credit history, you may be able to get unsecured loans from a bank. Most banks only offer personal loans with a convenient annual percentage rate to borrowers with ideal credit. So, if you have less than perfect credit, you are probably better off finding a loan elsewhere. 

Credit Union Loans

Another place unemployed people may be able to find loan offers is through a credit union. Credit unions are nonprofit organizations, resulting in some pretty unique borrower perks that traditional banks and many lenders do not offer. But, credit unions often have strict requirements and run on a small, local scale. This means you may not be able to get online loans via a credit union. 

Alternatives

Those who don’t want to get an online loan may take advantage of government benefits to get essential funding when they don’t have a job. These funding options may be extremely useful to those who meet the qualification requirements. 

Unemployment Benefits 

One way to receive immediate financial assistance when you don’t have a job is to utilize unemployment benefits. The federal government offers monthly funding to people who do not have a job but are looking for permanent employment. You will have to apply and get approved before you can utilize these benefits. 

Worker’s Compensation

Another way to receive a steady monthly income when unemployed is to receive worker’s compensation payments. Worker’s compensation is only available to people who were hurt at work that resulted in injuries that prevent them from performing their regular job duties. 

Disability Payments 

If you have been permanently injured or suffer from a condition that prevents you from holding a steady job, you may be able to qualify for disability payments. 

Social Security Payments 

Those who are of the proper age may receive steady income through social security payments. 

401K or Retirement Fund

Individuals who have a 401k or another retirement fund may be able to get a significant amount of money. Depending on how much you have saved over the years, you may be able to get a sufficient funding from these types of accounts. 

Child Support Payments 

Child support is a way for a single parent to receive enough money to take care of their child. Depending on the income of their ex-spouse, child support is meant to cover essential expenses that are required for taking care of a child. 

Frequently Asked Questions (FAQ)