Gone are the days when lenders used to offer loans only to people who had fixed monthly income through a full-time job. But now owing to heightened competition, there is a race among lenders to tap new clients-and-here come the self-employed category of borrowers.
Now, loan companies do provide customized loans to self-employed people. However, the only condition is that you show proof of your income through self-employments. In the past if you were self-employed and wanted loans, it was either very expensive to take out loans, or filled with difficulties or both. This is no longer the case in today’s marketplace.
Today loans for those who are self-employed are being offered by a variety of lenders as they compete for the business of the self-employed loans. Even if you, as a self-employed person, have no certified accounts or proof of income, you may still qualify for loans that are geared to the self-employed. Many people work from home today doing a variety of self-employed jobs. Now people who are self-employed can also qualify for self-employed loans. There are so many lenders in the loan market who are offering self-employed loans with competitive interest rates and competitive fees. Self-employed loans have traditionally been hard to find and very expensive. Because more and more people are now working for themselves the situation has become a little easier because availability of large variety of financial services providers, self-employed loan seekers will be able to find and negotiate very competitive loans.
The self-employed loans are available with or without security and both secured and unsecured loans for self-employed are as competitive. Self-employed homeowners can enjoy borrowing against equity by keeping their home as security for loans. Tenant and non-homeowner self-employed can find unsecured self-employed loans to suit their purpose.
Whatever your self-employed status – whether you’re a freelancer, a sole trader or you run a small business – talk to any lending company advisers about a self-employed loan and see what they can offer. Your self-employed loan can be for any purpose, whether it’s to invest in your business or for personal expenditure such as a new car, a holiday, home improvements or school/university fees for your children. Loan applications are processed quickly and once approved the money is made available as soon as possible for you to spend as you wish. There are lenders who can provide self-employed loans to self-employed borrowers with or without audited income accounts.