Online Loan Companies Offer Job Seekers Assistance

Online, December 10, 2010 (Newswire.com) - Applying for a new job can often mean a significant financial outlay. While many economic analysts remain optimistic that the economy and the job market is continuing to improve, the current average unemployment rate remains high at an average 9.7% nationwide, and is not forecasted to significantly fall for some time.

Non-traditional lenders have often approved online loans for those in difficult financial circumstances. Credit unions, small banks, private money lenders and finance companies often have retained the ability to make online loans to young people, and are usually more flexible in their approval guidelines.

While new technologies such as on-line job sites and electronic classifieds have made looking for a job easier sometimes, in many cases lowering or eliminating entirely the costs associated with paper resumes and mailing costs, the real costs involved in searching for a position are still daunting (and surprising) to many applicants. In addition to the opportunity cost of the time spent job-hunting, the unavoidable out of pocket expenses can really add up. One survey reported that almost a third of respondents reported spending between $500 and $1,000 looking for a position, with many spending more. Typical expenses reported were travel and lodging costs, clothing and costs associated with resume printing.

Sometimes job seekers who have not built up savings or contingency reserves turn to short-term loans or online personal loans in order to meet the costs of finding a new job. For those who are hunting for a new position due to an unexpected layoff, the shock can be even greater, as there are usually little in the way of savings set aside for such a financial emergency. As the job market has tightened, more young people - even recent college graduates are struggling to find jobs.

Find out whether a online loan of up to $250,000 is right for you. Click here to learn more.