 TITLE: Can You Get an Emergency Loan While on Unemployment? CONTENT: What Do You Need to Qualify for an Emergency Loan?\n--------------------------------------------------\nThere's no formal definition of an emergency loan, as the name refers to how you plan on using the money (for an emergency) rather than the type of loan. As such, the lender's requirements may be the same whether you're looking for a loan during an emergency or not.\nLenders consider a wide range of criteria to decide your loan terms, but you'll need to meet certain minimum requirements to be eligible for loan approval at all. These requirements often include living in a state where the lender operates, being at least 18 years old and having a Social Security number. Additionally, lenders generally consider your credit and ability to repay the loan by looking at:\n*   Your credit report\n*   Your credit scores\n*   Your monthly income, debt payments and resulting debt-to-income ratio\nRequirements can vary depending on the lender and type of loan. For instance, if you're taking out a secured loan, such as an auto title loan or home equity loan, your collateral's value will also be important. And some lenders focus on borrowers who have excellent credit, while others work with borrowers who have poor credit. But if you don't meet one or more of these minimum requirements, your loan application can be denied even if you have excellent credit. END