If you have a regular income, it is usually not a problem to apply for a loan. However, those who are unemployed and do not receive a salary but still need a loan will quickly realize that banks in Germany do not offer credit for the unemployed. Obtaining a loan despite unemployment is difficult, because without demonstrable income you are not a creditworthy borrower for the bank, as well as good Schufa information is of no use. Anyone wishing to obtain a loan from a German bank must be able to prove not just a regular income, but also a permanent and non-terminated employment relationship that has been in existence for at least six months. Even a Schufa query is always part of a credit check. But just because there are no unemployment loans at German banks, this does not mean that the need is not there, rather the opposite. Especially people who have no work and therefore no income of their own quickly find themselves in a situation where a loan is needed , be it for an important repair or an urgent purchase. Nonetheless, unemployed people belong to a high-risk group in the face of lending, so unemployment credit is not possible, because if you can not prove your income, the default risk is rated high and lending denied. Loans for the unemployed are therefore only offered by highly reputable providers who, in addition to excellent business relations with domestic and foreign banks, also have long-standing partnerships with private investors, which make the realization of unemployment loans possible in the first place.
If your own financial situation requires borrowing, you should look for a loan for the unemployed on the internet, because online you can find a number of special loan offers, including the credit despite unemployment. Some providers specialize in providing small loans for the unemployed (small loans for the unemployed), which are adjusted to the income of the borrower. In most cases, the loan amounts are very small and the terms are agreed for a long time, so that the monthly installments are as low as possible, so that they can be paid even when receiving unemployment benefits.
Another possibility is to apply for a loan for the unemployed at a bank abroad, because they do not just renounce a query from Schufa, they are also more flexible in proof of collateral. So not necessarily a regular income must be proven. As a security can serve a property, as well as a capital-forming insurance or securities, even the use of a solvent sponsor is possible to obtain a loan despite unemployment. In order to apply for a loan for unemployed people from abroad, one must contact a credit intermediary who has contact with numerous banks abroad and can arrange an unemployment loan.