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Yes, you can get a loan if you are newly employed or have just started a new job. However, it might be more challenging to prove your income as you might not have pay slips or pay stubs that show your monthly salary.

In general, whether applying for a payday loan or mortgage, lenders will find people who just started a job riskier than if you have been in a job for 6 months plus. You will still have some options when it comes to loans but you might have to pay more interest or increase the length of your loan.

Can I Get A Payday Loan If I Just Started My Job?

It is possible to get a loan if you just started a job, but it does make things more difficult. One of the main criteria for getting a payday loan is that you make over $800 per month and are in full-time employment.

Proving that you are currently employed will be more difficult if you can only show one payslip. Lenders will look at your ability to hold down a job as a key criteria in whether you are a trustworthy borrower, and, therefore will be able to pay back the loan on time and in full. This will make it challenging to get a payday loan with a payslip only and might hinder your chances.

Some lenders might insist that you can show three or more payslips to prove that you are in full-time employment. Some will ask for 6 or more or even a year. Even if it doesn’t seem like criteria for lending, the lender might insist that you can prove your employment.

Can I Get A Personal Loan With An Offer Letter For A Job?

In some cases, you might be able to get a loan with a job offer letter that proves you are going to start working within the next three months. The lender might also want to see previous paychecks to show that you have been working up until this point.

Another stipulation might be that they want to see you have another source of income like a second job or social security check. If this is the case you might be able to get a larger loan because of your multiple sources of income.

The other way you could get a loan is if it is secured against something – like a car or another asset. This, combined with your upcoming start date for a job could be enough to get approved for a loan today.

Can I Get A Loan As A Temporary Or Gig Worker?

Getting a loan while working a temporary job is possible, though some lenders might require a backup source of income or a future job prospect. Having a few years of consistent work experience in the same industry could increase your chances of getting approved.

In case of an urgent financial need, emergency personal loans might be a suitable option. Although these loans are costly in the short term, they can provide quick financial support if you anticipate starting a new job soon.

Can I Get A Loan To Relocate?

Moving city or town is common when you start a new job and many costs come along with that. These are all costs that you incur before starting the job and so it is usual to need extra money when this happens.

Before you apply for a loan ask your employer whether they can help with moving expenses. Some employers offer low-interest loans to help with moving and relocating costs. If this is not possible then you could ask family and friends if they’ll lend you money. Use a short-term loan as a last resort.

Can I Get A Loan In Part-Time Employment?

If you desperately need to borrow money today then you might be able to get a short-term loan for one of our lenders. They will typically still need to see that you are making over $800 per month and also that you have a full-time job lined up. The lenders could also want to see another source of income available (like a rental property or another job). They want to be sure that you’re able to make monthly repayments.

It will also be beneficial if you have worked in the same field or area over the last couple of years. This shows that you have expertise in the area and should be able to find other employment easily.


Part-time employment can sometimes be enough to be eligible for a payday loan if you meet other eligibility criteria too.

Consider A Cash Advance App

Cash apps such as Brigit or Earnin allow you to borrow money against your paycheck, taking into account your work hours and deposit history. Unlike traditional loans, these cash apps do not charge interest, but the borrowing limits are usually capped at $250, although exceptions exist.

Compared to personal loans, these apps are generally more flexible, with some requiring only a few months’ worth of deposits from the same employer. Additionally, many offer low monthly membership fees or the option to tip, making them more affordable than other short-term lending options.

To borrow money through a cash advance app you may need to grant access to your phone’s location and bank account information to qualify.

How To Increase Chances Of Approval For Loan With A New Job

Have A Good Credit Score

If you have a very bad credit score, lenders will be less likely to approve your loan. If you can increase your credit score month on month by making repayments on time then this will increase your chances of approval.

Reduce The Amount You Want To Borrow

You should only ever apply for the money you need, and no more. If you apply for a lower amount, it will save you money over the long term but will also increase your chances of approval. In 2021 the average payday loan was around $375 and so if you can apply for that amount or less than this will be good for your chances of approval.

Wait Until You Have A Full-Time Job

If you can wait to borrow the money, then you should. If you don’t need a personal loan right now then you can hold off and apply in a few months so that your chances will be increased.

Waiting until you move from part-time to full-time employment will give you a better chance of being approved. Also – if you can wait until your probationary period is up this will also help your chances.

Make Sure You Meet All Eligibility Requirements

Minimum monthly income is not the only eligibility requirement – you also need to be over 18 years of age, be a US resident, and have an active checking account and a live cell phone number. Before you decide to apply make sure you hit all the other requirements, otherwise your application won’t be successful anyways.

Why Would I Need Cash Before I Start My Job?

Consider these scenarios where a short-term loan could be helpful before you start your job.

  • Are you moving to a new town? Even if you’ve landed a better job opportunity, there may still be unexpected cash needs.
  • Did you transition from the warehouse floor to the office? A new work wardrobe may be necessary.
  • Did your commute become longer? Vehicle maintenance expenses may need to be taken care of.
  • Did you receive an unexpected bill? Payroll schedules during job transitions can damage your finances, primarily if an emergency payment arises. This could be anything from monthly bills to unforeseen circumstances like vehicle repairs.
  • Is your credit card payment due before you get paid? You want to avoid damaging your credit with a missed payment, but covering your expenses during this transition period and paying off a short-term loan may be a better option. Contact your credit card company to see if they offer any hardship or temporary financial setback options, or else they may raise your interest rates on the card to high levels.


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Richard Allan

Richard Allan

Richard Allan is the founder of Capital Bean and a passionate writer about personal finance, budgeting and how to save money at home and work.

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