Self Employed Loans

Whether you’re looking for some cash for your business or you need the money for personal reasons, here at Simple Personal Loans, we can find self employed loans to meet your circumstances.

Loans For Self Employed

Getting a loan when you are self employed is possible, it just might be that little bit harder. As lending regulations have tightened, self-employed people have been made to jump through more hoops to get accepted for a loan. That’s because lenders have to look more closely at affordability before saying yes to any loan application.

Simply put, if you’re self-employed, it can be harder to prove you’ll be able to make your repayments. But don’t worry, it’s not all doom and gloom. At Simple Personal Loans, we won’t hold your profession against you and we’ll search our panel of trusted lenders to find you the perfect self employed loan.

Personal Loans For Self Employed

Depending on what you are looking to borrow a loan for, a personal loan could be your best option. But do you know what a personal loan is? It is a loan which can be spent on anything from holidays all the way to debt consolidation.  There are other factors you need to consider when wanting a loan, these include whether you want a secured loan or an unsecured loan.

An unsecured loan will be less risky for you. But, that is the opposite for secured loans. With secured loans, you could use your home as security, which is something that lenders can use against you if unable to repay the loan. Whereas, with an unsecured loan, the deal is based on agreements and the realisation you could be charged more. Resulting and affecting your credit score in the long run with late repayments. Other loans could be a good option to look into.

Loans For Self Employed With Bad Credit

Getting a loan can be hard enough when you are self-employed. Nevermind if you are self-employed and have a bad credit score. So, it will be more difficult than it usually would be to prove all of your income and get approved. You need to show where your income’s coming from when you’re self-employed and we get that, one week you might get paid in cash, the next it could be a cheque and so on. If you don’t have proof of income you can show us your bank or business statements to demonstrate you have a steady income.

Loans For Self Employed With Good Credit

Having a good credit score puts you a few paces ahead of those who have a poor credit score. The higher your credit score the better. In other words, if your credit score is good, the likelihood of your loan being accepted is greater than if you had a bad credit score. There are plenty of ways you can increase your credit score, and how you can find out how it is being damaged, this way you are able to try to stay away from these.

Self Employed Loans UK

There are roughly 4.8 million people self-employed in the UK. Therefore, if you are looking for a self-employed loan, you are definitely not alone. It is common for people to have to go through the process which a loan of this type requires. But, just because you can prove your income does not automatically mean you will be accepted. Although as a broker we will try our best to help you find the loan you are looking for.

How To Apply

Applying with Simple Personal Loans is a straightforward, easy process which allows you to relax and apply stressfree. We understand that your financial situation isn’t the best and can cause unwanted stress. You can apply using our loan calculator or by applying below.

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