At Savvy, we believe there shouldn’t be barriers to borrowing simply because you’re unemployed – here’s how we can help.
Loans for Unemployed
Being between jobs doesn’t mean your finances stop. The everyday brings unexpected events and expenses, and life doesn’t play by your cash flow. It’s essential you’re able to access emergency funds when the unplanned occurs, so what options do you have? In this guide to loans for unemployed people, we’ll talk you through what’s available.
Centrelink offers a cash advance between $250 and $500 to people on JobSeeker in certain circumstances. Your eligibility gets assessed based on a few different factors:
- You’ll need to have been receiving JobSeeker for at least three months
- You can only apply for a cash advance once in any twelve-month period
- You are still repaying an advance received more than a year ago
- You are in debt to any Australian government department
- You are unable to repay the advance within six months
- You are outside Australia when you apply
If you’ve been on Centrelink payments for a while and you find a job, Centrelink also offer the Special Employment Advance. Continue reading