Little Loans caters to unemployed people who still have a source of guaranteed income, such as certain benefits. Though competitive, they offer fair loan rates and manageable terms. For example, you might borrow £1000 for 12 months at £123.40 per month, totaling £1,480.77, with a 79.5% APR (fixed). Eligibility depends on income, credit history, and affordability.

How to Apply for Little Loans

1. Fill out the online form indicating how much you wish to borrow and for how long.
2. Little Loans does a soft credit check—no effect on your credit score.
3. If matched, you’ll be redirected to the lender to review your loan offer in detail.
4. Complete your application and consent to a hard check or Open Banking review.
5. If approved, you’ll receive and review your loan agreement, sign it, and get your funds.

What Makes Little Loans Stand Out

Little Loans allows applicants with benefit income, not just traditional employment, to apply. The process is streamlined, fast, and mostly digital, making it simple for those in urgent need.

The free eligibility checker helps you quickly determine odds of acceptance without denting your credit. There are no broker fees or upfront costs involved when using Little Loans’ service.

Potential Drawbacks

Interest rates can be quite high, especially for those with lower credit scores. As with any loan when unemployed, repayment may be a challenge if income changes or stops unexpectedly.

Also, those without any income at all are almost always ineligible. Little Loans does not offer loans to those without at least some form of incoming funds.

Verdict: Is Little Loans Right for You?

Little Loans offers a relatively accessible way for unemployed individuals with some income to secure short- or longer-term loans. The firm’s transparent processes and no-obligation checks are major pluses. However, always ensure you can handle repayments and consider alternatives if in doubt.