Self-employed loans

Get fast funding for self-employed with adverse credit. Avail of loans despite no regular income. Both homeowner and tenant can apply to consolidate their pending dues.

  • Instant online decision
  • Best deals with no collateral
  • Free quotes and no processing fees
  • Won’t affect your credit score

Representative Example: Credit Amount - £3,000 for 9 months at £406.40 per month. Total loan repayment amount of £3657.56. Interest Amount: £657.56. Interest rate: 49.9% pa (fixed). 49.9% APR Representative.

Take control of your finances with self-employed loans

Managing your budget can be difficult as a self-employed person because your income is not always foreseeable. In that scenario, having bad credit will lead to some more complications.

To overcome those issues, it is always better to choose loans for self-employed with bad credit from Advanceloanday. We let you get the necessary support to cover expenses by increasing overall cash flow.

Our loans are ideal for small business owners, contractors, or freelancers who need cash instantly. We can offer loans from £1000 - £500000 to support your business venture.

What is a self-employed loan?

Self-employed loans are short-term unsecured borrowing for people who are working for themselves. It can be perfect for budding entrepreneurs and people running small-scale businesses.

Typically, loans for self-employed can be available without any collateral and guarantor in the UK. In addition, the loan terms and conditions will also differ according to your current financial circumstances. However, the loan amount must be repaid within the set period, and the amount taken should be affordable.

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For whom are loans for self-employed suit most?

Loans for self-employed with bad credit are smart financial products to increase cash flow for starting a business, expanding an existing business, purchasing equipment or inventory, paying for business-related expenses, etc.

To be specific, a self-employed person can fall under any of these categories:

  • Operate a business
  • Having a profession as a sole proprietor
  • Be a partner in a partnership
  • Independent contractor
  • Someone in changeable employment
  • Freelancers and independent contractors
  • Coaches
  • Creative professionals
Self employed loans

How do people utilise self-employed bad credit loans?

You can utilise these loans for self-employed in the UK for anything that will positively impact the business. You should remember the loan amount will not be for personal purchases. Apart from marketing and advertising purposes, you can spend the cash for below purposes, such as:

  • Purchase a company vehicle
  • Purchasing stock
  • Hiring new staff to meet increased demand
  • Buying new inventory
  • Paying invoices
  • Buying new machinery
  • Paying existing staff
  • Business expansion plans
  • Paying shipping costs
  • Office Renovation
  • Paying rent for office space
  • Upgrading technology

What can be the loans available to self-employed?

Several types of loans are available for those earning their income to increase cash flow and improve their businesses. Here are some common types of loans that can be utilised when self-employed.

These are some types of self-employed loans, and you can choose one as per your precise financial circumstances. Before deciding on deals, it is always advisable to evaluate your options carefully.

Get an instant self-employed loan quote now

Fill out an online form, enter your details and receive your money within a few minutes.

What to consider on bad credit loans for self-employed workers?

You can still obtain a short-term loan if you are an independent worker with imperfect credit. Here at Advanceloanday, we strive to customise fair deals on loans for self-employed with poor credit.

Still, you should know some vital pointers before getting these loans, such as:

  • Your application will be processed based on its own merits. If you have suffered from poor credit in the past, which does not mean you won’t get a loan.
  • We will not only look at your credit history or score while processing your application. Instead, we analyse your current financial status and the ability to repay the planned loan amount.
  • Usually, self-employed bad credit loans come with higher interest rates when compared to people deemed to have a flawless credit score. Before deciding on any loan agreement or deal, it is always sure about your repayment ability and the income source you are comfortable with on the loan terms.

I have no guarantor. Can I seek self-employed loans?

Self-employed loans in the UK are available with no guarantor and any third-party involvement. A guarantor must agree to pay back on your behalf when you cannot. Sometimes, you struggle with not having a guarantor to back you.

Fortunately, you can find better loans by approaching us. We focus on your creditworthiness and ability to repay the loan while offering self-employed loans with no guarantor. Additionally, we will assess your income, credit rating, and other factors to determine your eligibility for the fund.

Unlike traditional loans, self-employed loans are unsecured and often have the highest interest. This is because we are taking a higher risk by offering a loan without asking for any collateral or guarantee of repayment.

Whether it is a secured loan or an unsecured loan, you will get flexible repayment terms and instant quotes based on your eligibility.

What benefits can I get on self-employed loans with poor credit?

Bad credit loans for self-employed offer a lot of rewards for those who work for themselves. Here are some of the key paybacks of such loans:

Can I avail of car loans if I am self-employed?

Yes, you can typically qualify for self-employed car loans, but the process may differ slightly from traditional car loans accessible by salaried employees. To get the funds, you need to provide additional documentation that lets you know about your income and ability to repay the loan.

It is also important to submit key documents like tax returns, bank statements, and financial statements for your business to qualify for such a loan. Don’t worry. We facilitate the finest terms with reasonable interest rates based on your worthiness.

We understand the unique challenges and needs of self-employment. Therefore, we always tailor the best car loans for self-employed workers with flexible terms.

How to get self-employed loans without my income proof?

Getting loans for self-employed with no proof of income is tricky, but it is still possible in some scenarios. Usually, we check your income proof and financial stability instead of your credit score to offer the best loan offers.

As a self-employed individual, you must provide additional documentation for evaluating your loan application to avail of the required amount.

Do bounce back loans available for self-employed?

Yes, self-employed individuals can easily apply for a bounce back loan. Generally, bounce-back loans for self-employed are offered up to £50000 to eligible businesses with a 100% guarantee.

The loan has a fixed interest rate, and repayment terms are up to 6 years. To apply for such a loan, you must provide basic information about your business, including your turnover, bank details, and other financial information.

Why choose Advanceloanday to get self-employed finance?

We are a responsible direct lender, offering tailor-made loans for self-employed people based on the exact situation. There is no fee for getting quotes from us. As mentioned, our fair deals protect you from life-threatening financial issues and save you time.

We bring everything you require in the search for a loan. Even with complicated circumstances, our acceptance rates are high, and our loan process will not take long.

self employed finance

Once you meet our eligibility, we will immediately decide on your application for bad credit loans for self employed, and send money to your bank account on the same day.

Best of all, you can decide the loan deals and how much you need to borrow. In addition to this, you can also choose how long it will take to repay. We let you modify your loan based on your current and erratic income level.

Here are some of the reasons why people choose us for the loan,

  • There are no upfront fees
  • We eliminate the involvement of third parties
  • Our site is secured with advanced technology
  • Choose from different loan products
  • Fair deals with friendly assistance

Undoubtedly, we facilitate loans to self-employed with flexible terms that perfectly fit to their venture’s needs. If you are ready to initiate your self-employed finance journey, you must approach us and complete our simple online application today.


Can I utilise these loans to consolidate all my debts?

Yes, you can use self-employed loans to consolidate your debts, including your credit cards, overdrafts, or other bills. These loans will leave you with just one monthly payment. Still, you must note that you may increase the term and the overall interest rate paid at the end.

I am a sole trader. Can I avail of self-employed loans?

Yes, both sole traders and limited companies can apply for self-employed loans. However, the application process will remain the same, i.e. online, but the loan terms may vary according to your loan affordability.

How much time will be taken to get the funds from these loans?

It takes time to receive the funds from a self-employed loan, generally on the same day. To discover unique benefits, try to apply for loans for self-employed from a direct lender.

Are self-employed loans tax deductible?

Yes, it is tax deductible when the loan amount is used for business purposes. However, before deciding on self-employed business loans, it is important to consult with a tax professional who lets you understand a self-employed loan's tax implications.

What will be the consequences if I cannot make the repayment?

Make sure to repay your loan to avoid a negative credit rating, which could harm your ability to access any financial products in the upcoming days. If you take finance protected against your properties, like your home or car, defaulting on repayment could lead to asset loss.

It is better to go with realistic repayment terms to avoid such complications. In the worst case, if you fail to make the repayment, you must ensure to let your lender know in advance. With this, you will get some grace period.

Our customers’ experience:

I needed funds to cover some unexpected expenses, but as a freelancer, I had to figure out where to turn. I came across this lending service and was impressed by its quick response time and great loan options. The team of experts worked with me to get a solution that fit my budget and helped me get back on track financially.

-Harper, Bournville

As a small business owner, I struggled to find a loan that met my needs. I reached out to this lending service and was pleasantly surprised by their bespoke approach to lending. The experts took the time to know my business and offered finance tailored to my specific needs. Thanks to the clear support, I could make the investments necessary to grow my business.

-Grayson, Dudley

After being turned down by multiple lenders, I hesitated to apply for a loan again. Advanceloanday exceeded my expectations with self employed loans on fast payout, and efficient service. They could work with my exclusive financial situation and offered a loan that allowed me to achieve my goals. I extremely recommend them to anybody in need of a self-employed loan.

-Jackson, Wolverhampton

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