Best No Income Loans 2025
— Comparison updated Jun 2025
- Find low income loans from U.S. lenders
- Compare APR rates
- Choose the best no income loans
- Improve your financial situation
All unsecured personal loans through Upstart offer a fixed rate and range between 6.6% - 35.99% APR based on 5-year rates offered in March 2025. The lowest rates are only available to the most qualified applicants. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
Need a loan but don't have a traditional income? Here's a quick overview of top no income loan options:
Below, we've compiled a detailed comparison of various no income loan options to help you make an informed decision:
Choosing a loan is a highly personal decision. Consider your unique financial situation, repayment ability, and long-term financial goals before applying. Always read the terms carefully and understand the total cost of borrowing.
Understanding No Income Loans
No income loans are financial products designed for individuals who don't have a traditional, steady income source. This can include freelancers, self-employed individuals, or those between jobs.
While these loans can be a lifeline in emergencies, they often come with higher interest rates and stricter terms due to the increased risk for lenders.
Types of No Income Loans
No income loans come in several varieties, each designed to cater to different financial situations. Understanding these types can help you identify which option might be most suitable for your needs.
1. Verified Assets, Stated Income (SIVA) Loans
SIVA loans are designed for borrowers who have significant assets but may not have a traditional income stream or choose not to disclose it.
Key Features of SIVA Loans:
Borrowers state their income without providing documentation
Assets must be verified and are often used as collateral
Typically offers better terms than loans with no asset verification
Suitable for self-employed individuals or those with irregular income
2. No Income, Verified Assets (NIVA) Loans
NIVA loans are tailored for borrowers who have substantial assets but no regular income or choose not to disclose their income.
Key Features of NIVA Loans:
No income verification required
Assets must be substantial and are thoroughly verified
Often used for investment properties or by retirees
May have higher interest rates than traditional loans
3. No Income, No Assets (NINA) Loans
NINA loans are the most flexible but also the riskiest type of no income loans. They require neither income nor asset verification.
Key Features of NINA Loans:
No verification of income or assets
Typically have the highest interest rates among no income loans
Often used in real estate investments
Lenders rely heavily on credit score and property value (in case of mortgages)
4. No Income, No Job, No Assets (NINJA) Loans
NINJA loans were popular before the 2008 financial crisis, but are now extremely rare due to tightened lending regulations.
Key Features of NINJA Loans:
Require no documentation of income, employment, or assets
Based primarily on credit score
Extremely high-risk for lenders, leading to very high interest rates
Largely phased out due to their role in the 2008 financial crisis
Top 3 No Income Loan Options to Consider
While numerous lenders are offering no income loans, we've highlighted three options that stand out for their unique features and potential benefits for borrowers in various situations.
LoansUnder36
Best for: Borrowers looking for a wide range of loan amounts and flexible terms, especially those with fair to good credit who want to avoid excessively high interest rates.
Key Features:
Quick online application process
Funds available as soon as the next business day
Connects borrowers with multiple lenders, increasing approval chances
Low Credit Finance
Best for: Borrowers with poor credit or no credit history who need small to medium-sized loans and have exhausted other options.
Key Features:
Considers factors beyond credit score for approval
Quick application and approval process
Ace Cash Express
Best for: Borrowers needing very short-term loans for immediate emergencies, especially those with poor credit who have no other options.
Key Features:
Same-day funding available
No credit check required
Physical locations available for in-person service
It's important to note that while these options can provide quick access to funds for those without traditional income or with poor credit, they often come with high interest rates and fees. Always carefully consider the terms and your ability to repay before taking out any loan.
Choosing the Right Option
When considering these no income loan options:
LoansUnder36 is best if you have fair to good credit and need a larger loan amount with more flexible terms.
Low Credit Finance could be a good choice if you have poor credit and need a medium-sized loan with more lenient approval criteria.
Ace Cash Express should only be considered for very short-term, emergency needs when you have exhausted all other options, due to the potentially very high costs involved.
Remember, the best loan for you depends on your specific financial situation, the loan amount you need, and your ability to repay. Always compare multiple options and read the terms carefully before committing to any loan.
Compare No Income Loan OptionsHow to Qualify for a No Income Loan
While qualifying for a no income loan can be challenging, there are several strategies you can employ to increase your chances of approval:
Strategies to Improve Your Chances of Approval
Provide proof of alternative income sources (e.g., investments, rental income)
Offer collateral to secure the loan
Apply with a creditworthy co-signer
Demonstrate a strong credit history
Show substantial liquid assets
Alternatives to No Income Loans
Before committing to a no income loan, consider these alternatives that might be more suitable for your financial situation:
Alternative Options
Secured personal loans (using assets as collateral)
Credit card cash advances (for short-term needs)
Borrowing from friends or family
Peer-to-peer lending platforms
Local credit union loans
Non-profit assistance programs
How to Apply for a No Income Loan
Remember, the process of applying for a no income loan may be more challenging than a traditional loan application. Be patient, thorough, and prepared to explain your financial situation in detail.
If you're unsure about any part of the process, don't hesitate to seek advice from a financial advisor or credit counselor.
Compare No Income Loan OptionsFAQs About No Income Loans
Can I get a loan without proof of income?
Yes, it's possible to get a loan without traditional proof of income. However, you'll likely need to demonstrate your ability to repay the loan through alternative means, such as assets or a co-signer.
What is the easiest loan to get approved for?
Secured loans, such as those backed by collateral, are often easier to get approved for. Additionally, payday loans and car title loans may have less stringent requirements, but they often come with very high interest rates and should be approached with caution.
Can I get a personal loan if I'm unemployed?
Yes, it's possible to get a personal loan while unemployed. Lenders may consider alternative income sources, such as unemployment benefits, investment income, or spousal support. Having a strong credit score and assets can also help.
Are no income loans safe?
No income loans can be risky due to their higher interest rates and stricter terms. It's crucial to carefully consider your ability to repay the loan and explore all alternatives before committing to a no income loan.
What credit score do I need for a no income loan?
Credit score requirements vary by lender, but generally, a higher credit score (670+) will increase your chances of approval and help you secure better terms. Some lenders may consider applicants with lower scores, especially if they can provide alternative proof of repayment ability.
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