When you’re self-employed, you may not have a steady income, or unexpected bills could suddenly crop up that you can’t budget for. Whether its car repairs, vet bills or another urgent expense, you may not have enough savings or income to cover the extra bills. Luckily, there are loans for self-employed individuals that can help you if you find yourself in a financial emergency.
Applying for a loan quote through Tendo is simple and entirely online. We help applicants of all credit types match with lenders who can offer them loans for self-employed people. Interest rates and repayment terms will vary depending on the lender and your personal circumstances.
We want you to be confident and make fully informed decisions about your finances. This guide is designed to equip you with the relevant information about loans for self-employed people to help you make the right financial decisions for you.
Can I get a Loan if I’m Self-Employed?
Here at Tendo, we’re on hand to help you easily apply for a personal loan for self-employed people. We work with a panel of over 50 lenders who have a straightforward lending process. There’s a simple application form that you can fill out online and we’ll use it to match you with lenders who can offer you loans for self-employed people.
Once you have received a loan quote, read the terms and conditions and approved it, you will be asked to e-Sign the agreement and the funds will quickly be transferred into your bank account. There’s no obligation to accept the loan quotes you’re offered. It’s important to carefully consider the quote and calculate whether you can afford the repayments in your budget, without it affecting your existing financial responsibilities.
How do Loans for Self-Employed People Work?
As a credit broker, rather than a direct lender, Tendo makes it simple to apply for quotes for a loan for self-employed people. We work with a panel of over 50 lenders and can match you with the best lender for your circumstances within a matter of minutes. Just complete the application form and we’ll try our best to match you with lenders straight away.
We can help you find a personal loan for self-employed people with flexible repayment schedules. Depending on your circumstances and the lender, you could repay the loan in monthly instalments over a period of 3 to 36 months. Once you have repaid the loan, you could apply for another loan if you still need financial help, as long as you have carefully considered your financial situation and your alternative options.
Can I Apply for a Loan Today?
Before you apply for a personal loan for self-employed people, it’s important to consider the lending eligibility requirements. All applicants need to be at least 18 years old, a UK resident and employed with a regular monthly income of at least £500 net. You’ll also need to have a valid email address and phone number, along with a bank account that your income is paid directly into.
You can apply for a personal loan for self-employed people in the comfort of your own home using our simple online application form.
High Approval Loans with Bad Credit Eligibility
Just because you have a poor credit score, doesn’t mean you can’t be approved for loans for self-employed people. Many of the lenders we work with consider applications from individuals with less than perfect credit scores, even if you have been turned down for loans elsewhere.
Although we don’t conduct credit checks, lenders will use a soft credit check to assess your affordability for loans for self-employed and bad credit applicants. Once you have accepted a loan quote, the lender will conduct a hard credit check, which may affect your credit score and will appear on your credit history. However, repaying a loan on time and in full can help improve your credit score.
What Types of Loans are Available for Anyone Self-Employed?
Here at Tendo, we can help guide you through the process of applying for loans for self-employed people. You can apply for loans ranging from £100 to £5,000, with regular monthly repayments over a period of 3 to 36 months, depending on your circumstances and lender.
Along with loans for self-employed and bad credit applicants, we can also help you find various other types of loans, including emergency loans, short term loans and payday loans.
Why Choose Tendo for a Loan if You Have a Bad Credit History?
Although there’s no guarantee that you’ll be approved for a personal loan for self-employed individuals, we’re here to make the process as simple as possible. We work with a panel of over 50 lenders, many of whom consider applications from individuals with poor credit scores.
The lenders will consider the personal and financial information in your application, including your marital status, any dependents you have, your monthly earnings and regular expenditure.
What to do if you’re struggling with debt
While loans for self-employed and bad credit applicants can be helpful in a financial emergency, they should be used as a last resort.
If you feel you need financial advice or assistance or just some general help with your money, it’s advisable to seek help from any of the following services:
If you feel you are struggling, or may struggle with your loan repayments, we highly recommend you speak directly with your lender as soon as possible.
