EI Payday Loans For Unemployed On Benefits

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Fast Unemployment Loans Across Canada

If you're currently in between jobs or have recently lost your job, you may be wondering if it's possible to get approved for a loan. While most traditional lenders will not provide loans for people on unemployment, there are direct payday lenders who will.

Here at iCASH, we understand that people's circumstances can change and we are here to help when you need it most. That's why we offer payday loans for unemployed Canadians on benefits, so you can get the financial assistance you need when you need it most. Not only does this type of loan give you the money you need to get by, but it can also help you rebuild your credit so you can get back on your feet again.

If you need to borrow money and are on unemployment benefits, you can easily apply for unemployment loans with us today. We have a simple online application and can get you approved in as little as 2 minutes. Now is not the time to stress about your finances, apply for a personal loan now and get back on track.

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Why Choose iCASH for Unemployment Loans in Canada

Choosing a reputable lender like iCASH for unemployment loans in Canada is an easy way to get back on your feet after losing your job. When you work with us, you can also be confident that you're getting the best possible service and terms on your loan.

Some of the major benefits you'll enjoy when you choose us as your unemployment loan provider include:

Secure Online Application

We know that borrowing money can be a stressful experience, so we've made our online application as simple and secure as possible. Protecting your information is our top priority, so you can rest assured that your data is safe with us.

Our software uses cutting edge 265 bit encryption to keep your information secure from the moment you submit it. We also have a strict privacy policy in place so we will never share your information with anyone. It's just one added layer of protection and peace of mind when you work with us.

Fast Approval, 24/7

Once you've submitted your online application, you will receive an instant decision. If you're approved, we'll email money transfer the funds directly to you so you can deposit them into your bank account and access them right away.

Even if you're looking to get approved during a time when traditional lenders are closed, you can with iCASH. Because we offer 24/7 instant approval, you're never more than a few clicks away from the money you need, no matter the time of day.

Easy e-Transfer

After the instant approval process is complete, it's time to sign your electronic contract and get your cash. We'll send the money to you via e-Transfer within minutes of being approved, so you can access it right away.

Once you have the funds in your account, you're free to use them however you choose. There are no restrictions on how you spend your loan, so you can use it to cover personal bills, groceries, or anything else you need.

Membership Perks

All of our customers are automatically enrolled in our membership program after paying off their first loan. This entitles them to enjoy up to 20% Cashback on the cost of borrowing. Plus, you'll get an even faster re-loan process as well as no credit verification for re-loans, should you ever need a payday loan in the future.

How To Get Unemployed Loans Today

If you’re looking to apply for payday loans on unemployment benefits in Canada, you'll get superior service with iCASH. We understand that people's circumstances can change and we are here to help with our simple online application and fast approval process.

To get approved for our e-transfer payday loans as an unemployed individual on benefits, follow these three easy steps:

Apply For an Unemployment Loan Online

Applying online can be done through our website or by using our mobile app. All you need to do is fill out some general information about yourself, your employment insurance benefits, and your financial situation. From there, you’ll be one step closer to getting approved for the loan amount you’ve requested.

Get Approved Instantly

Getting approved takes just minutes with our automated system. Once you've submitted your electronic application, you'll receive an instant decision so you can get the funds you need as soon as possible. The instant approval process is an added layer of convenience that allows you to get a decision faster than any traditional in-person lender.

Receive Your Loan Funds

Once you're approved, we'll send the money to you via e-Transfer within minutes. We ensure this process is prompt so that you can get access to the funds you need right away and use them however you need them. Whether you need to cover personal bills, groceries, or anything else, you can do so with your iCASH instant loan.

Requirements For Unemployed Loans

If you're on unemployment benefits and are unsure whether or not you qualify for an EI loan, there are a few things you should know. Although we have minimal requirements, it's important to understand how you qualify for instant online loans while unemployed in Canada.

To be eligible for an EI loan with iCASH, you simply need to meet the following requirements:

● You must be at least 19 years old.
● You must be a Canadian citizen, living in one of the provinces we operate in.
● You must have been receiving the same source or mix of incomes for the past 3 months. *Note that if you've previously had a job with a steady source of employment income, we can accept one EI payment received in your bank account.
● You must have a minimum combined net monthly income of at least $800.
● You must have bi-weekly EI payments scheduled and paid to your bank account i.e. every other Tuesday or Wednesday if Monday of the same week is an official holiday.
● You need to have a Canadian bank account that has been open for at least 3 months, with access to online banking.
● You must have a valid mobile phone, email address, and home address.

You should also note that we don’t issue guaranteed loans for people who are unemployed. Depending on where you are at in the EI benefit process, certain conditions may apply. For example, if you're still in your waiting period and haven't yet received an EI payment, you may not be able to get an EI loan if you don't have any additional sources of income or if you didn't just recently have a job.

If you aren't sure whether or not you qualify or have any other questions, feel free to contact us and we would be happy to help. We also provide other types of loans for people on government assistance in Canada.

Below, we’ve listed a few:

You can learn more about each of these loans, and the other loans we provide for people on government assistance, by visiting our website or contacting us directly. Together, we'll help you find the best solution for your unique financial situation.

Bad Credit Loans For Unemployed Benefits Canada

At iCASH, our mission is to help people who need extra financial assistance, and who may not be eligible for a traditional loan, get access to the funds they need, when they need it.

Not always, but often, people who are unemployed or on benefits can have difficulty qualifying for a loan because they may not have a regular source of income or they may have a poor credit history or a bad credit score. That's where we come in.

At iCASH, we don't believe your credit history should determine whether or not you're eligible for a loan. Instead, we look at your ability to repay the loan based on your current financial situation, and will only approve you for the amount you can afford to repay. We offer bad credit payday loans for unemployed people on benefits so that you can get the financial assistance you need, no matter what your finances look like.

To apply for a bad credit loan with us, simply fill out our online application. We'll do a soft credit check to determine your eligibility, which won't impact your credit score. Once you're approved, we'll send the money to you via e-Transfer, and you can use it immediately.

Unemployment Loans With No Credit Check

If you’re unemployed and are looking for a cash loan, you may have considered finding a provider that has a no credit check policy. However, not checking your credit comes with a few risks.

For one, it means that the lender doesn't have any way of determining whether or not you can afford to repay the loan. This could lead to you being approved for a loan that's too large for you to handle and could put you in a difficult financial situation. Additionally, without a credit check, the lender may charge a higher interest rate because they perceive you as a higher risk.

Performing a credit check is a part of responsible lending. At iCASH, we are a fully licensed lender, and we are dedicated to providing our customers with the best possible service. We will perform a credit check when you apply for a loan with us, but won't use a poor credit score as a reason to deny you a loan.

Checking your credit simply allows us to verify your identity and make sure that you don't have any existing payday loans in Canada that need to be repaid. It also allows us to see whether or not you've fallen victim to identity theft, which is sadly something that happens more often than you might think.

Benefits Of Payday Loans For Employment Income Benefits

There are several benefits to using payday loans as a lending option for people on EI income in Canada. For starters, they are one of the quickest and easiest ways to get access to cash when you're struggling financially. Additionally, they can help you avoid late fees and other penalties by giving you the funds you need to cover expenses until your next EI payment arrives.

Another benefit of using payday loans that accept EI is that they can help improve your financial standing. This is because making timely repayments on a loan shows responsible financial behaviour, which is an important factor that lenders look at when considering a loan.

Lastly, payday loans, also referred to as emergency loans, can give you the peace of mind that comes with knowing you have a safety net in place in case of an emergency. Whether you need to cover unexpected expenses or simply want to have some extra cash on hand in case of a financial emergency, iCASH loans can help.

Some additional benefits of applying for an unemployment payday loan with us include:

100% Online Payday Loans

We operate 100% online, which means you can apply for online payday loans from the comfort of your own home, or even while you’re on vacation. This also means that you don't have to go through the hassle of standing in line at a physical location and filling out document after document. It’s a much simpler way of borrowing money!

Fast e-Transfer Payday Loans

Getting your money quickly is important, especially when you're in a tight financial situation. That's why we offer fast e-Transfer payday loans, which means you can get funded within minutes and without having to wait days or weeks for a traditional bank transfer.

Guaranteed EI Payday Loans

If you're looking for guaranteed EI payday loans, you may be searching for a needle in a haystack. While there are lenders out there who provide these types of loans, it's not standard practice, nor is it a responsible lending option.

All licensed lenders in Canada will not guarantee EI loans, as it does not have your best interest at heart. At iCASH, we want to help you get the money you need, when you need it, without putting you in a difficult financial position down the road.

With that said, we have a proven track record of high approvals and will work with you to find a loan that meets your needs and budget. We approve 9/10 applicants and fund loans instantly, so there's a good chance you'll be approved for a loan with us - regardless of what your financial situation looks like.

Flexible Installment Loans for EI in Canada

When you apply for a payday loan with iCASH, you'll have the option to pay back your loan in flexible installments.* This means that you can choose a payment schedule that best suits your budget and needs. Our customers can choose to repay their loan in up to 3 repayments over a 62-day period.

We understand that everyone's financial situation is different, which is why we offer this flexible payment option. It's not always possible or realistic to repay your loan in full on your next payday, and we want to make it easy for you to get the money you need without putting unnecessary financial strain on you.

*Please note that not all applicants will be eligible for installment loans for EI in Canada. Due to government regulations, loans in Ontario and Nova Scotia can only be approved for 1 repayment.

Get An EI Loan From Top Rated Canadian Lenders

When it comes to finding a reputable online payday lender, consider iCASH as your top choice. With a proven track record of over 600,000 happy clients and an approval rate of 93%, we have been helping Canadians get access to fast cash online since 2014.

We are also a proud member of the Canadian Consumer Finance Association (CCFA), which is the leading national organization for the Canadian payday loan industry. As a member of this organization, we adhere to a strict code of conduct that puts the needs of our customers first.

We are a top lender in Canada with thousands of positive online reviews. Our customers trust us, as we’re committed to providing them with a convenient, safe, and responsible lending experience. When you apply for EI loans with us, you can be confident that you're in good hands.

Get Your Unemployment Loan Today

If you're receiving unemployment benefits and need access to quick cash, we have the perfect solution. With multiple uses, flexible repayment options, and one of the industry’s fastest approval times, an unemployment loan can help you fund everyday items, upcoming bills, or emergency expenses. Simply apply online or download the iCASH app today and you could have the money you need in minutes.

We also provide EI loans in these provinces of Canada

in Alberta, British Columbia, New Brunswick, Ontario, Manitoba, Nova Scotia, Prince Edward Island.

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Apply for a Payday Loan on EI Benefits

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Just use the simple form on our website – select the amount of cash that you want to borrow, your repayment plan*, provide some information and you’re on your way.

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Complete your online loan application. You’ll receive an instant decision, so you can put your finances back on track. Fast, easy and reliable loans from a trusted licensed direct lender.

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Your funds will be sent via e-transfer in 5 minutes or less. Our transfers mean your money is available anytime you need it. Safe, guaranteed EI loans with same day funding.

Maximum repayment period 62 days. APR is 109.50%. On a $500 loan of 14 days, the total cost of borrowing is $75, with a total payback amount of $575 and an APR of 391.07%. Interest fees: Alberta $15 per 100, British Columbia $15 per 100, Manitoba $17 per 100, New Brunswick $15 per 100, Nova Scotia $17 per 100, Ontario $15 per 100, PEI $15 per 100. 372 Bertha Street, Hawkesbury, Ontario, K6A 2A8. iCASH only offers online services. Please note that we cannot accept customers or conduct any transactions from this location.

Frequently Asked Questions About EI Loans

Can you get a payday loan on benefits?

If you are receiving EI benefits, ODSP, or disability income for at least three months, you can apply for a payday loan on benefits. You must also meet all other minimum requirements at the time of the application and be receiving benefits for a minimum of three months before you apply for your loan.

With iCASH, you can get a child tax loan, EI loan, CPP loan, and disability loan.

How do you borrow money when unemployed?

If you're receiving unemployment benefits, you may be eligible for an EI loan from iCASH. Terms may apply and you may only qualify during a certain period of your EI payment schedule.

If you're approved for an unemployment loan, you'll get flexible repayment terms, no hidden fees, 24/7 customer service, and quick approval times. You can apply for a loan online or through the iCASH app today and get the money you need in minutes.

Can I get a loan if I'm on welfare?

It's possible to get a loan while on welfare in Canada. This is because certain payday loan providers accept welfare and other forms of government assistance as a valid source of income. This is a great alternative to loans that require collateral like vehicle title loans or home equity loans.

At iCASH, we accept welfare as a source of income for our loans. We understand that not everyone has a traditional source of income, and we want to help as many people as possible get access to the cash they need.

Can I get a loan on EI in Canada?

You can receive a payday loan while on employment insurance (EI). The process is the same as when you’re applying for a cash advance. Most lenders will consider your EI premiums as income for the express loan and decide what amount you are eligible for based on the EI premiums being paid out to you. You must have been receiving employment insurance payments for at least three months when you apply for a payday loan for unemployed people.

Can I get a payday loan if I have no job?

Not having a job doesn't have to get in the way of you getting a payday loan. Certain payday loan providers, like iCASH, will accept other forms of government assistance, like unemployment, child tax, or disability benefits, as a valid source of income.

Can I qualify for a loan if I’m unemployed?

Yes, you can qualify for an iCASH loan if you're unemployed. You simply need to meet some basic requirements, including having the same source or mix of incomes for the past 3 months. Your source of income doesn't have to be traditional employment income. If you are receiving any type of government assistance, like Canada’s unemployment benefits, you may apply for a loan OF UP TO $1,500 with us.

What documents do I need to provide to qualify for an unemployment loan?

To qualify for an unemployment insurance loan with iCASH, you'll need to provide us with some basic information and documents, including:

    ● Your contact information, including your address and mobile phone number.
    ● Your Social Insurance Number (SIN).
    ● Your banking institution's name and proof that you hold a valid account with that bank.
    ● Proof of income for the past 3 months. This can include any type of government assistance, like unemployment, child tax, or disability benefits.

*Note: If you're applying for a loan using EI as your main source of income, you must provide us with proof of bi-weekly payments that are scheduled and paid to your bank account i.e. every other Tuesday or Wednesday if Monday of the same week is an official holiday. If you are just starting to receive EI, we will accept one EI payment received in your bank account only if you've previously had a job with a steady source of employment income.
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