How are loans without payroll possible?

Surely more than once you have heard the difficulties of asking a loan to a financial institution for the large amount of paperwork that entails. In addition, conditions are often too strict, especially those that refer to guarantees. Many of the people they need are limited because the bank they are going to apply for considers that they do not have sufficient solvency. It can even be worse: asking for credits without payroll, in most cases, is a complex task.

Payroll is a vital element when asking for money from an entity, since what you earn and the regularity with which you receive your salary will be decisive for the return of the credit. However, in the market there are entities that do grant financing without the need for a job.

All the keys to request credits without payroll

All the keys to request credits without payroll


These entities, mostly, are usually those that offer small amounts fast in an agile way and without demanding much paperwork.

The micro loans are small amounts that do not even exceed 400 euros, with shorter repayment terms and with a repayment period that can even reach 30 days. The main benefit of this option is that it can be done through the Internet, from home or through a simple telephone call. And in ten minutes you can have the money requested.

In this type of financing it is not necessary to go through complex bureaucratic processes and, in addition, the presentation of payrolls or guarantees is not required.

However, in front of these facilities to request a loan in this way there are some disadvantages. Among them, the interests, which tend to be higher than in traditional loans. However, one of the objectives of this service is not that they are a form of regular financing, but a specific ‘escape’ to help you at different times when you need to pay something extra.

The main people who benefit from non-payroll loans

The main people who benefit from non-payroll loans

If you are currently wondering if this type of financing is made for you, we provide you with all the information so that you have all the details. In the first place, you should bear in mind that this service is aimed at companies or people who have to face a small payment, usually unforeseen, and that require quick financing without many explanations. But, in addition, this type of credits can help this type of people:

  • Those that do not manage to arrive at the end of the month for extra expenses.
  • Those with irregular payrolls because they change jobs relatively frequently.
  • Those that have low wages with payroll that do not allow them to access an official loan.
  • People with non-contributory pensions.
  • Artists or entrepreneurs with incomes that tend to be somewhat irregular and, usually, ‘abandoned’ by banks that offer large loans.
  • People who have an idea or project and who go through a ‘viability filter’. These amounts usually reach 400 or 600 €, which makes these loans a great help for them.

More and more people are turning to this type of financing, credits without payroll. In this way they manage to finance small expenses, since both the information on this loan and its conditions have improved significantly during the last years of economic crisis. In addition, these credits offer a great amount of advantages (although some disadvantage, that we have detailed in this post), that you must know before having this type of credits. If you are thinking about having them, this article will be of great help.