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.
Can I get a loan if I’m Self Employed?
Yes. It might not be quite as easy though. 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.
Is an Unsecured or Secured Loan the right option for me?
All in all, 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.
How do you show proof of income if Self Employed?
It can be difficult 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.
How do I apply for a Self Employed Loan?
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.