Being self-employed opens unlimited freedom and responsibility, but can blocks individuals applying for loans or quick cash through conventional agencies.
There are currently over 4.7 million people in the UK who are self-employed and that numbers continues to rise. That is a staggering amount of people who are solely dependent for their time, finances and goals. Being self-employed has an abundance of advantages and allows individuals to take control of their freedom. However, one of the most talked about downfalls of this career is the ability to obtain loans in times of crisis.
Self-employed workers typically find it strenuous to obtain any sort of financial credit as conventional institutes view these individuals as ‘high risk’. Being self-employed means nine times out of ten there is uncertainty knowing how much regular income you will be receiving in the coming months or years. Mainstream lender’s do not favour these individuals applications as they are not salaried.
The concern over instability (after the most recent financial crisis) is what drives traditional financial agencies to enforce strict protocol and criteria for prospective clients to be accepted. These stringent rules are in place to ensure that the company does receive the borrowed money back.
However, we recognise that being self-employed requires a large amount of discipline and responsibility for your time-management and finances. These two qualities in combination are good enough for us. We understand no matter how much planning, unforeseen events can leave us all in need of quick cash.
Embarking on a self-employed career may require you to borrow money for transport, office equipment, worker’s salaries, or even business debts. Obtaining a self-employed loan you will be able to correct any wrong’s, and be free from stress. Whatever the purpose of the loan, we will be happy to assist in finding you the perfect financial arrangement.
Seeking a loan for self-employed individuals with a Guarantor…
Sometimes you must front cost in order to reap the benefits later down the line. Whether it be to aid your self-employed business affairs or to assist you for other means can be an incredible life-saver when confronted with unforeseen expenses.
As opposed to basing your loan acceptance on a computerised figure we believe in trusting our clients to pay back what they have borrowed. If you are unable to provide evidence or documentation to secure a loan, we welcome a guarantor. A guarantor can be any individual who tends to have a better credit score or records to prove their financial stability. Guarantor loans require an individual or representative to co-sign your financial agreement. Simply put, if you are ever to fall short on payments you can rely on your guarantor.
Applying for a Loan for Self-Employed People
If you are interested in a loan, with or without a guarantor, we are able to loan you between £100 and £5,000. Apply via our free, online application which does not affect your credit rating.
Helping assist individuals in times of need is what we do best, and pride ourselves on being able to infuse every detail you provide to calculate the best matched lender. We are flexible in regard to conventional criteria regarding employment and credit-rating, but uphold FCA regulations and protocols.