There was a time when people who needed a large amount of money could only rely on bank loans or their family’s good graces. At worst, they will be forced to borrow money from dubious sorts. But consumers now have an easier time getting a fast loan Ajax Ontario. However, most lenders require proof that you can pay them back. Does it mean you’re out of luck if you don’t have a job?
Getting a Loan Without Proof of Income
Traditional lenders will insist on proof of income. This means a certificate of employment and payslips. You won’t qualify for a bank loan without out. Luckily for those who are unemployed or are not earning money the conventional way, car collateral loans were developed. This is a secured loan where the borrower has to pledge their car as collateral. While lenders specializing in this loan also require proof of income, they’re more flexible with it.
Title loan companies are more accepting of alternative sources of income. For example, they accept pension or disability slips as proof of income. If you’re a freelancer, payment slips or a copy of your bank records can be used. It’s one reason why title loans are so popular. People who are currently unemployed or retired can still avail of this loan. You can also apply even if you have a low credit score or zero credit history.
The Best in the Industry
Premier Loans Canada is your best option when you need fast cash. You can borrow as much as $100,000 without undergoing credit checks. The company also has the lowest interest rates and monthly payments around. They also offer flexible payment plans. Sign up on their website or call their toll-free number at 1-855-965-1650.
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