New Loans  623.266.9163
Payments  623.266.9163
Make a Payment
immigrant loans

Are There Loans For Immigrants?

One of the major downsides of getting a loan in the United States is that the banks often base a lot of their decision-making on your credit score. If you don't have a good credit score, then you may struggle to borrow cash. In fact, if you have no credit score, you may struggle to borrow cash. There are a lot of immigrants who need access to emergency funds but struggle because of their lack of credit history.

Loans For Immigrants That Are Easy To Get

So, do loans for immigrants exist? Yes, they do. Let's explain.

Why Immigrants Sometimes Struggle To Borrow Cash

The US, just like many other countries, uses a credit scoring system when determining whether somebody can borrow cash. The idea of a credit scoring system is to demonstrate how likely you are to pay any cash that you borrow back. After all, lenders do want to be paid back.

The problem for immigrants is that, more often than not, they do not have an extensive credit history. They cannot demonstrate that they have the ability to pay back any cash that they borrow. As a result, many lenders are very reluctant to lend to them.

Not only this, but some immigrants who have newly arrived in the country may not even have access to a US checking account. The vast majority of lenders, especially traditional banks, may not loan to anybody without a checking account. 

Your Traditional Bank May Not Be An Option, But Title Loans May Be

Sadly, if you are an immigrant with no real credit history in the US, then a traditional bank won't loan you cash. They will want you to be working with credit for many years before they consider you. Thankfully, there are still loan options available for immigrants. One of these will be a title loan.

If you hold a lien-free title to your vehicle, then Southwest Title Loans may be able to loan you up to $15,000. The amount of cash that we loan you will be dependent on the value of your vehicle. We are able to consider applicants with good, bad, or even no credit. We are able to do this because a title loan is a secured loan (it is secured against the value of your vehicle).

If that wasn't enough, you may also be pleased to know that while we do prefer people to have checking accounts, we have alternative ways of providing you with the funds if you do not. Again, this is something that may be beneficial to immigrants. 

loans for immigrants

How To Get A Title Loan In Arizona

We know that many of those interested in an Arizona title loan may need cash quickly. Therefore, you will be pleased to know that our lending process is fast. From inquiry to loan agreement being signed, the process could take as little as 30-minutes to an hour.

We don't require much in the way of documentation from you. Just make sure that you have the following to hand:

  • Lien-free title to your vehicle (you probably have one if you didn't purchase your vehicle using financing)
  • ID, state-issued, or a driver's license.

We do not require proof of income or proof of your checking account.

Once you have those, the process is simple:

  1. Fill in the inquiry form on our website.
  2. Wait for one of our team members to give you a call.
  3. Tell our team member where you want your vehicle inspection carried out. You can do this at one of our branches, or we can come to you.
  4. Our vehicle inspection expert will inspect your vehicle and check your documents to determine how much we can lend you.
  5. You sign your loan agreement.
  6. You wait for your cash (this may take a few hours to arrive, or at least by the end of the next working day).

What You Can Use Your Title Loan Cash For?

Here at Southwest Title Loans, we are not going to ask you what you plan to use your Arizona title loan for. However, the expectation is that you will use your cash to cover emergency expenses.

We have worked with countless borrowers here at Southwest Title Loans, including plenty of immigrants, and many are borrowing cash for the following reasons:

  • To cover repairs to their vehicle.
  • To cover repairs to their home.
  • To cover emergency transport.
  • To ensure that they have some income until they receive their next paycheck.
  • Medical expenses
  • Moving costs
  • Emergency childcare costs.

Of course, this is not an exhaustive list. You may find that other things may be a financial emergency for you.

Immigrant? Need To Borrow Cash Today?

One of the most popular loans for immigrants is a title loan. This loan is an option for immigrants due to being accessible to those with no, or a limited, credit history. If you are interested in an Arizona title loan, you can get started with the inquiry process by filling in the simple form on our website. You could have the cash that you need in a few hours.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.

Arizona Title Loan Association Logo Go-Daddy Logo

Tolleson Store
8363 W Van Buren St, Suite D3
Tolleson, AZ 85353

Mesa Store
1025 S Power Rd, Ste 108
Mesa, AZ 85206

Glendale Store
9284 W Northern Ave, Ste 104
Glendale, AZ 85305

Tempe Store
937 E Broadway Rd, Ste 3
Tempe, AZ 85282

San Tan Valley/Queen Creek Store
530 E Hunt Hwy, Ste 105
San Tan Valley, AZ 85143

North Phoenix/Scottsdale Store
3510 E Bell Rd, Ste 1 & 1A
Phoenix, AZ 85032