how to get a personal loan when self employed

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Self-employed workers can find financing via personal loans throughonline lenders, business loans, lines of credit, and credit cards. Most lenders will require a fair to excellent personal credit score along with bank statements and multiple years of tax returns to verify income.

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Typical options available to self-employed people include the following: Specialist loans. The first way is through a specialist lender who provides personal loans for self-employed people. These may include lenders that offer self-employed loans for tradies or personal loans for ABN holders.

Where regular workers can document income with only a paystub, a self-employed worker will need to provide lenders with a much broader scope. See the following section for a breakdown of the documentation needed to qualify for a self-employed loan.

It鈥檚 definitely not impossible to get a loan if you鈥檝e got bad credit and you鈥檙e self-employed, but you鈥檒l have a much smaller range of options as fewer lenders will be willing to take you on as a customer.

You can apply for any standard personal loan if you can meet the documentation requirements as an employed person. P2P loans. You can also submit an application to a P2P lender if you meet the eligibility and employment criteria. Low doc loans.