Have A New Job And Need A Loan? Here Are Options To Try

May 18, 2022 | Mason Roberts

woman got a new job needs a loan 

Many individuals with a new job need a loan. It is often difficult to cover the basic financial expenses when you’ve just started working at a new place, and your paycheck hasn’t come in yet. Since you don’t have time with the company, banks don’t always view you as a good risk. The good news is that many individuals with a new job need a new loan and have options at their disposal. Below, learn about three different loan types for people with a new job who need a loan.

Got A New Job And Need A Loan? Try These 3 Loan Types

People with a new job need a loan for many reasons. For many people, it takes several months to find a new job, and by the time they find it, they’ve already exhausted their savings and have no funds to pay rent or utilities.

If you stop at a bank, you will find that you will likely not get approved. The key is to look at the following loan types:

1. Installment Loans

Installment loans do not require collateral to apply for this loan type. Instead, you only need a driver’s license, a checking account open in your name, and your most recent pay stub. So, this loan type is available for you, even if you’ve only been paid once.

With an installment loan, you can get up to $1500. You’ll need to apply in-store, but you can get started by filling out our quick online request form. The in-person application process can take as little as 30 minutes, and you can get the money you need the same day or the next business day if approved.

2. Title Loans

Another loan type to consider is title loans. Title loans use your vehicle’s title as collateral, hence the name of this loan type. In order to apply, you need a driver’s license, a lien-free title to your vehicle, and your vehicle for inspection. All credit types are welcome to apply.

If you meet the requirements above, you can get up to $15,000 from a title loan. However, the exact amount you are loaned is dependent on the value of your vehicle. You can get started by filling out our inquiry form online, and you have the option to apply entirely online or partially at a store.

woman got an idaho title loan

3. Payday Loans

The third loan type available for people who have a new job and need a loan is a payday loan. Payday loans can offer you between $100 and $500. These loans are meant to hold you over until your next payday when you are just short for the month.

In order to apply for payday loans, you will need your driver’s license or state-issued ID, your most recent pay stub, and a blank check from an active checking account. All credit types are welcome to apply.

More About Installment Loans

Of these three loan type options, installment loans offer a flexible way to get the money you need. You will get approved for a certain amount of money. After that, you are free to withdraw from that account and pay it back as you see fit. In many ways, installment loans function like credit cards. If you are interested in online installment loans in Idaho, here’s what the application process will look like at Idaho Title Loans, Inc.:

Begin by filling out our online inquiry form. This inquiry form is not the application, but it will get you in touch with the closest storefront location.

A representative will give you a call right after you click submit. During this phone call, the representative will ask you some more questions and set up an appointment.

Bring all of your required documents for your appointment. A representative will walk you through the final steps, including simple paperwork. The entire in-person process can take as little as 30 minutes. If approved, you can get the installment loan money the same day or the next business day.

What If I Have Bad Credit?

One of the main advantages of emergency loans such as installment loans is that perfect credit is not required. This means that even if we run a soft credit check and find out that your credit is bad, you may still be able to qualify and get the money you need fast. For more questions about credit, call Idaho Title Loans, Inc. to speak to a representative who can help you determine if a signature installment loan is right for you.

bad credit welcomed for installment loans

Apply For An Installment Loan Today!

Many people with a new job need a loan, but they don’t know where to look. Now, you know which loan types are available for you: installment loans, title loans, and payday loans.

If you’re interested in installment loans specifically, visit our Installment Loans Near Me Locations Page. The other option is to submit a short inquiry form located on our Main Page. A representative will get back to you shortly to further help you determine if an installment loan is right for you and set up an appointment.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.