Can You Get a Bad Credit Loan If You’re Self-Employed?
Getting a bad credit loan for the self-employed is not something that is impossible to achieve. Even lenders know that some self-employed people can have a rough time in the business and that can be reflected in their finances. As a result, they may no longer be able to keep up with their taxes, loans, and other payments. This is why they develop bad credit. Luckily, they are still eligible for certain loans. Let’s see how you can get a loan if you’re self-employed and have bad credit. What Can You Do If You Have Bad Credit? Being self-employed and […]
Secured and Unsecured Loans – Which One Is Best?
Lending options are divided into secured and unsecured loans. A lender analyses a consumer’s credit history before offering a loan. This is, presumably, the main aspect that will convince a lender to offer you an unsecured loan. So, which one of these two categories is best for you? What are the characteristics that distinguish them? Explaining Secured Loans Secured loans include an asset as security, such as a house in the case of a mortgage loan, or a vehicle in the event of an auto loan. This asset constitutes the collateral for the loan. When you choose such a loan, […]
Getting a Bad Credit Loan When You’re Self Employed
Self-employed people or entrepreneurs usually have a tough time getting a loan. This happens because they don’t have all the necessary paperwork to attest that they have the finances to repay the loan. Not being able to prove that you have a steady income will make you realise that getting a loan approved is almost impossible. Fortunately, there’s a solution! Bad credit business loans for self-employed people do exist and are designed to help the ones in need, just like you! How Do Bad Credit Loans for Self-Employed People Work? They don’t require all documents A standard loan relies […]