Are you self employed and struggling to get a loan?
You have come to the right place. Personal Loans Now specialise in self-employed loans. We know that your employment status may have been acting as a barrier to you getting credit. However, we can offer personal loans for self-employed people with a bad credit history up to £25,000. Apply now for an instant decision and get same day payout, if approved.
How do I apply?
When applying for one of our self employed loans there are three simple steps to follow:
1) Apply online
The entire lending process is online. Our self employed loans are unsecured, and there is no application fee.
2) Get an instant decision
Our average decision time is 30 seconds! Time is money, and we don’t want to waste any of yours.
3) Get your money fast
Oh, it is fast. Very fast. Once you are approved for the self employed loan and accept the loan offer, the lender will try to get you the money within the hour.
Why should I choose Personal Loans Now for self employed loans?
- You can pay back your loan early with no extra charge
- With our new Credit on Demand feature, you can get higher rates of approval from the unique combination of direct lender and broker
- Our repayment options and rates are always clear and upfront
- Same day funding. If approved, your bank account can be funded in as little as 1 hour
Self Employed Loans with No Proof of Income
Are you self employed in the UK but you don’t have proof of income, and you need a loan? The good news is, that with Personal Loans Now you can use a bank statement instead. This will help to prove what is coming into your current business account. The lender will also be able to see how much you pay out each month. Bank statements are an excellent way to prove how responsible you are with your finances and whether you adhere to limits for overdrafts.
Self employed loans without bank accounts are available, but very often these loans have very high-interest rates, they may affect your credit score negatively, and untrustworthy lenders may offer them. Before committing to any agreement for secured loans as a sole trader with no accounts make sure that the lender is registered and ethical, by checking the Financial Services Register.
Self employed loans without financial documents will only be offered by illegal lenders such as loan sharks. Safe and responsible self employed loan lenders will require all of your relevant financial information so that they can run affordability checks to work out the best loan for you.
For self employed workers obtaining any credit can sometimes be difficult – whether this is bad credit loans, payday loans, personal loans online or even store credit. Some lenders may consider the risk of lending to self employed people too high, due to their irregular income. However, the great news is that there are many short term and personal loan lenders including Personal Loans Now who do try and accommodate all types of applicants. Below is a comparison table of lenders that provide personal loans for self employed.
|Lender||RAPR||6 Monthly Payments of||Total Amount Payable|
|£1,000 from Sunny||563%||£277.16||£1,662.96|
|£500 from Oakam||1424%||£153.04||£918.25|
|£1,000 from Next Credit||1254%||£331.07||£1,986.42|
|£2,000 from Personal Loans Now||39.7%||£370.91||£2225.47|
Data correct as of 12/11/2018
The APR on loans provided by short term loan lenders are significantly higher than the APR on our loans. As well as offering shorter term loans, we also offer other loan products. When taking out a loan you can’t just look at APR, but you have to look at the bigger picture, is the lender trustworthy? Is there a good customer service team?
When applying with Personal Loans Now you can rest assured that we are fully authorised and regulated by the Financial Conduct Authority, and we will give you the best APR we can. At the same time we are a lender you can trust with an amazing customer service team. Whether you are looking for funds to cover any outstanding bills; need help consolidating your debts; or need to improve your cash flow, then credit for self employed from Personal Loans Now may be the perfect loan option for you.