Self-Employed Loan
If you are self-employed you might find it difficult to get a loan. This is because it can be difficult to prove your income in the absence of wage slips from an employer. Also, again because you pay and set your own wages when you are self-employed, your payments to yourself could be erratic and could also fluctuate, making it tricky for any lenders to get a reliable estimate of your earning levels. This in turn means that it is likely you would have to pay an unfairly high annual percentage rate if you do manage to get a self-employed loan.
Fortunately, since more and more people are becoming self-employed, more and more lenders are willing to offer loan products to them so it shouldn’t be too hard to find a good self-employed loan deal.
|