Can I get a business loan if I am unemployed?

If you have a business idea, can introduce some capital into it and have a reasonable credit history, there is no requirement for you to have a conventional job to qualify for a business loan. Indeed, many entrepreneurs don't work for other people.

Of course, a long period of unemployment can often mean that savings are exhausted and credit histories become impaired, which can make securing a loan to start a business difficult. There are specialist lenders, known as responsible finance providers, that work in local communities to help people get back on their feet, perhaps after a period of unemployment, and it could be worth talking to them first.

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