3 Ways Short-Term Emergency Loans Help with Unemployment – Our Guide

December 26, 2019

Life will always be defined as a roller coaster ride – one day you’re feeling like you’re on top of the world, and another day may seem like everything’s working against you. This is especially true when it has to do with financial hardships.  It is no secret that you cannot prepare for what life has around the corner for you, but unemployment is one particular problem that is much harder to prepare for.

For South Africans, in particular, the entire ordeal of trying to achieve long-term financial stability and eventual growth is seen as a near-impossible dream because of higher unemployment rates. The level of financial hardship that unemployment carries with it is unlike any other and causes even more trouble when coupled with the immense level of stress that the situation brings.

No matter how difficult unemployment can be, however, it is best to approach the challenge with an open mind, unbreakable spirit, and a short-term emergency loan.

How short-term emergency loans can overcome the struggles of unemployment

Financial loans, without a doubt, are immensely helpful for anyone needing a financial push to overcome the struggles of everyday life. If you haven’t been able to land a job yet, consider applying for a short-term emergency loan that can get you through a financially-difficult time. 

Here are a few situations where this particular type of financial assistance will help: 

1. Having a below-average credit

A below-average credit score understandably bears some stress when it comes to handling financial matters during unemployment. 

For most South African borrowers, a not-so-optimal credit score can seem like the end of the world because of common issues that involve lenders shutting the door simply because the numbers don’t match. Fortunately, most lenders nowadays that offer short-term emergency loans aren’t too particular about a borrower’s credit score. This consideration essentially makes it easier for any unemployed individual to seek financial assistance! 

2. Dealing with an unexpected emergency

Aside from the problems brought about by unemployment, chances are that you may currently be struggling with an emergency that came up unexpectedly and requires a bit of funding to settle. 

Regardless of whether you have a sick child, a broken car, or are in need of an emergency medical procedure, you won’t have to scramble for money when you take out a short-term emergency loan! Short-term emergency loans are also especially helpful in sorting out unexpected emergencies because they have a more lenient repayment period that extends up to 90 days. 

3. Being in need of quick, hassle-free financial assistance

Another key situation where short-term emergency loans will work best is when you want to skip the tiresome process of heading over to a physical lender location and waiting for hours. Nowadays, short-term emergency loans can be applied for and granted online even when you do it from the comfort of your own home! 

Generally, short-term emergency loans only take 15 minutes for compiling documentation, filling out forms, and sending the application itself for approval. Once your requirements are set in, approval can come in as fast as five minutes up to one business day, and the principal amount will be sent to your bank account! 

Short-term emergency loans are the perfect option for anyone struggling with the challenges of unemployment and still have to take care of a few financial obligations. For South Africans needing a short-term loan to get by until their next job opportunity, get in touch with Hoopla Loans today for a quick and easy application process!