Payday Loans for young people: complete guide

Today’s article is dedicated to payday loans for young people , or to those financial solutions reserved for an audience between the ages of 18 and 35 , who often can not exhibit particular guarantees, in the absence of a permanent contract, of a substantial income and property or assets owned.

Despite the difficulties in accessing these products, however, there are more and more boys who choose to take out a payday loan, and the motivations can really be the most disparate: from wanting to start a personal activity , to buy a car ( cars, motorbikes or campers) or the payment of university expenses , up to travel payday loans or mortgages to buy the house in which to live.

Getting a payday loan , however, is never easy, especially if you do not have a family ready to cover your expenses or a relative willing to play the role of guarantor: however, these days, the banks have chosen to expand the criteria to take advantage of the financial packages and, consequently, the possibilities for young people are much wider, compared to a few years ago.

In the next paragraphs we will analyze the various possible options, we will go to see what are the requirements to obtain a payday loan and what are the characteristics of the packages for users under 35 : if you are interested in a payday loan for young people , then, you just have to take note of our suggestions.

# 1 payday loans for young people without a paycheck

These days, being able to show a paycheck , or a fixed-term contract or, better still, indeterminate, is a luxury that very few can afford: for the many young people who do not have a fixed income, therefore, there are more difficulties in access to personal payday loans , but recently the Credit Institutes have created a wide range of packages also for freelancers or self-employed workers , or for all those who, despite having a certain income, are not dependent on someone.

So, for young people who work independently or occasionally, there are opportunities to get a payday loan, however lower than other categories of users, while the unemployed and, in general, those who do not own any income remain effectively excluded from overwhelming majority of financial services: in other words, to obtain financing, you have to prove that you are able to repay the sum, and in the absence of a job or an alternative rent, this is very difficult.

The payday loans for young people without payroll are not so different from the common services for entrepreneurs, consultants, self-employed and occasional: showing a copy of the tax return , in addition to the common documentation required by the banks (ID, code tax, etc.), it is possible to obtain small or medium amounts, on terms, all in all, favorable, as for the numerous flexible payday loans offered, for example, by Findomestic , Agos Ducato or Poste Italiane .

However, for young people who do not have a sufficient fixed income, the alternative often remains the surety; alternatively, for those who are at the head of a company, there are the numerous calls and non-repayable payday loans offered by state, regional and European agencies, as we will see in the next paragraph.

# 2 Non-repayable payday loans

For young people without a permanent job, who however wish to put their business idea into practice, there is a wide range of facilitated funds , made available by the State or the European Union, as well as by private bodies or companies that invest in companies rising with a high percentage of risk.

These payday loans, however, involve numerous conditions, even a very restrictive one: the first criterion, in fact, concerns the age of the applicant who, in many cases, must be less than 35 years ; secondly, it is necessary to draw up a convincing business plan to win the tender which, frequently, concerns some very specific sectors, on which the Government decides to aim to favor economic development, such as agriculture , research or the environment (for example, a very advantaged field, from this point of view, is that of photovoltaics ).

Therefore, in order to access non -repayable payday loans , it is first of all necessary to keep an eye on the websites and publications of the interested companies and public bodies, to keep up-to-date on the latest news, and it is equally important to contact a good consultant. financial, to produce the necessary documentation and be convincing, as the “posts” are always lower than the candidates.

Finally, remember that, in order to obtain a European or state fund, you must be in charge of the company and declare the will to play that role for a certain period of time, be unemployed or have a number of quotas in the administration company.

In any case, these funds are extremely convenient for young entrepreneurs, since only a small part of the amount has to be returned, while the largest percentage is, in fact, “given”. Alternatively, we mention the so-called venture capital companies, or those companies that invest in start-ups in the nascent phase, when the risk factor is still quite high: these companies act as talent scouts , as they finance and support the projects considered worthy, participating in any profits.


Despite the fact that banks are rather restrictive in granting funding, as we have seen, the possibilities for unemployed young people without payroll exist and are also quite numerous: of course, we need to take some extra effort, especially to get the capital to give life to entrepreneurial activity or if you do not want to resort to family help.

We also suggest that you take a look at the various online payday loans available on the web: although the payables are generally lower, the access criteria are sometimes less stringent and, therefore, you could get the desired amount in a short time and with not too disadvantageous conditions.

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