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Loans without paycheck


Loans without paychecks are financial products designed to bring credit closer to the needs of contemporary man; however, the appearance of these types of personal loans has created many doubts and perplexities in consumers who often find themselves confused between guarantees to be provided and interest rates. Let’s analyze the details, to be prepared before going to a bank.

Loans without paychecks: what are they?

Loans without paychecks: what are they?

Loans without a paycheck are configured as personal loans and are the best solution for accessing credit for all workers who do not have a demonstrable paycheck as well as for those who have a type of contract other than the permanent one.

Obviously, these loans requested personally, if on the one hand they are able to offer the opportunity to solve the natural tasks that may occur in everyday life, on the other they give access to very limited credit shares: usually the maximum financeable threshold reaches the $ 5,000.

Before granting a loan, each credit institution will need guarantees alternative to the paycheck, which will vary according to the category to which the applicant belongs.

Alternative guarantees

Alternative guarantees

Very often we hear about “loans without paychecks and without guarantees”, unfortunately, however, these loans are impossible to obtain, no bank or financial, will accept to lend money if not there are sufficient guarantees to justify an operation.

It is true that to obtain any type of financing or loan, banks and financial companies ask for solid and convincing guarantees. We repeat: no bank will grant financing, even minimal, without the presence of that quid that suggests that the customer can honor the debt contracted.

So what loans are possible if you don’t have a paycheck? Loans without guaranteed paychecks are certainly possible. In fact, one of the major forms of alternative guarantees is undoubtedly the one that provides for the presence of a guarantor willing to sign a surety at the time of the contract: in this way, in the event of insolvency by the contractor, the institution can refer to the guarantor. Given the delicacy of the role, usually the guarantor is always a family member or at least a friend who has a lot of trust.

Apart from the guarantee, among the most common guarantee formulas we find loans without paycheck and without guarantor and loans without paycheck online.

The mortgage of a property owned, which in the case of insolvency can be foreclosed; for this type of loan, this choice is considered the last resort, because the maximum funding ceiling granted does not exceed $ 5,000 and clearly a property has undoubtedly a higher value. In the absence of other forms of guarantee, partial mortgages can still be used.

For loans without demonstrable income, the pledge of valuables has returned to use, especially jewelery or works of art.

One of the most appreciated instruments in the past by banks is the bill of exchange, the executive title par excellence. In the event of non-payment of the security, the finance company can directly proceed with the recovery of the assets through attachment. Although some financial companies still use this credit formula, it remains very expensive both in terms of operating costs, especially those relating to compulsory insurance.

Who can request them

Who can request them

The types of consumers who would like to access personal loans without a paycheck are manifold and usually the financial ones reserve specific economic conditions for each of them; therefore we will evaluate each category in detail to try to give concrete answers, proposing the best options among the existing ones.


Loans without a paycheck for self-employed workers are a type of financing intended for those who, despite having a “stable” profession, cannot present a paycheck to the credit institution.

Usually, to evaluate the maximum payable ceiling, the bank or the financial company requires the Single Model for a certain number of previous years, ranging from 3 to 5, according to the activity and the amount requested.

However, the Single Model does not constitute a guarantee for the bank, which requires additional forms of insurance before providing the loan.

Employees with ongoing financing

Among the eligible candidates for loans without paychecks, there is also a category of consumers who can usually access all kinds of financing; we are talking about employees who are considered ” without a paycheck ” when the latter is already employed in the resolution of other loans that subtract from the salary a share between 35 and 50%. In these cases, the financial companies consider the paycheck blocked until one of the ongoing loans is settled.

By needing money, there is an opportunity to request debt consolidation. It is a kind of loan financing, or a loan that includes the residual amount of the loan still in progress to which is added the amount of liquidity that is needed.

These types of loans are advantageous only if the ongoing loans are close to the repayment date, because the fixed and early closing costs are generally quite high.

Bad payers and protests

These loans are, with many reserves, also paid to bad payers, understood not as insolvent in the absolute sense, but as “late payers”. In fact, if in general, those who have not fulfilled the obligation to pay the previous loan installments are unable to obtain a loan without a paycheck if not behind more than solid guarantees.

Anyone who has paid late installments, bills or fines, despite being on the list of bad payers, still manages to secure a loan, as long as we have already said, there are solid guarantees to support it.

Self-employed workers who have suffered a protest against bills of exchange, checks or securities are disheartened by banks: to obtain loans without a paycheck it will be essential to provide solid guarantees for a possible recovery.

Black workers

Loans of this type find the most suitable category of clients in illegal work: they are numerous, have a “salary” and like all other citizens, every now and then they need liquidity. In this case, to demonstrate that a continuous income exists, we can refer to the existence of a current account in which there are monthly fixed credits; the presence of bank movements will demonstrate the existence of an income even if it cannot be demonstrated by means of certificates.

The undeclared worker will also be able to obtain a loan of a certain size if he signs a bank guarantee as collateral, or pledges assets or mortgages real estate owned by him.


Loans for those who have no wages are lately in great demand by the angels of the home hearth. Not having a paid job, housewives can access credit either through the presence of a guarantor or by doing without it.

If the first solution can give way to a loan that also reaches 5,000 and more USD (it depends on the type of guarantees that are available), in the second case the maximum ceiling that the financial company will be willing to grant is 1,500 / 2,000. $.

Liquidity is usually provided by means of so-called revolving cards, credit cards provided with liquidity repayable in installments. Probably a convenience for those who need money right away, but be careful: the interest rate agreed on these cards often comes close to usury.

For more information, read also: Loans for housewives, how to do it?


Like housewives, even jobless students can access funding designed for them. Next to forms of loan without paycheck dedicated to the study, whose liquidity can therefore only be spent to easily pay university fees, books and sometimes even accommodation, there are also revolving cards dedicated to young people here and as in the case of housewives, interest rates are very high.

Landlords without income

Anyone who owns homes or offices rented to third parties, but does not have a paycheck, can obtain a loan without a paycheck by virtue of the annuity provided by his properties. Certainly there must be a lease that testifies to the annuity and the financing itself may have a duration that does not go beyond the expiry of the contract itself. If desired, the bank may also impose a bank guarantee to guarantee the monthly payment of the rent and therefore of the installments to guarantee the loan.

Costs: attention to the APR

Costs: attention to the APR

Given the type, these loans differ from all other personal loans by the clearly higher threshold of interest applied. By evaluating and comparing different loan estimates, we will come across the fateful TAN and APR, where the former stands for the interest charged on the loan, the latter for the interest due plus the ancillary costs: the APR will then tell us the real cost of the loan..

Usually, even if you often see advertised loans that do not require a paycheck with TAN on 9-10%, the APR is never below 15% therefore on $ 1,000 of financing, in the end, the lender will not will collect 1,150.

Not only the TAN and the APR must not be calculated: the loan without a paycheck, not having a salary as a guarantee, usually requires the taking out of an insurance, which will raise the financing account by bringing the percentage of the APR between 15 and 17%.


In conclusion, we can certainly say that financing without a paycheck is possible but certainly needs solid guarantees in order to hope to see your request approved.

When on the net you find offers with securities such as “loans without paycheck and without guarantor”, or “AStro Finance loans without paycheck and without guarantor” or similar offers. Probably going to check it will impact the harsh reality.

Tips: if you want to take out a loan without a paycheck, there will be 4 things to do:

  1. find a guarantor or have other solid guarantees to present;
  2. get a quote from several finance companies;
  3. compare TAN and APR and evaluate the cost of insurance;
  4. Before signing the contract, carefully read the notes: the law does not allow ignorance and the banks know very well what they are doing, therefore, prepared in such a way as to be up to the situation.

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