At QuidMarket, we are proud to offer our short term loans to customers from a range of backgrounds, including those who are self-employed. With our loans for self-employed people, you could bridge any gaps in your finances and repay over a term between 3 to 6 months. However, our loans are not to be treated as business loans, as they are designed for emergency payments, rather than supporting a business.
Our company was launched with the intention of helping hard working people, no matter their financial background, so we provide loans based on affordability. This means that we could help those with poor credit, CCJs, or past defaults to secure the cash they need when they need it most. Our loans start from as little as £300 to £600 for new applicants, and up to £1,500 for repeat applicants, so if you are looking for a loan as a self employed person, we may be able to help.
- FCA authorised responsible lender
- New customers can borrow between £300 and £600*
- Returning customers may be eligible to borrow up to £1,500*
- Flexible repayment terms between 3-6 months
- Poor credit applications considered
- No guarantor or collateral required
- No hidden fees
- Quick and easy application
*Loan amounts and repayment terms are dependent on affordability checks
What Are Loans For Self-Employed People?
Typically, a loan for a self-employed person will differ from a loan for someone in traditional employment. This is because the income of a self-employed worker may fluctuate from one month to the next, which can pose as a risk to a lender. However, there are plenty of lenders on the market who can help you, including QuidMarket. Our loans for self-employed people with no guarantor could be ideal for small business owners or freelancers, particularly if you have been turned away by traditional lenders due to poor credit. We base our lending decisions on affordability, so if you have substantial proof that you would be able to make the repayments on your instalment loan each month, we could help you.
What Types Of Loans Do You Offer To Self-Employed People?
We specialise in providing a short term alternative to payday advance loans. Our loans start from £300 to £600 for new applicants, and up to £1,500 for repeat customers, and these are to be repaid over a term between 3 to 6 months. This means that our loans are not suitable to be used as a business loan, but are better suited as a personal loan to cover any emergency expenses or temporary cash flow issues.
One type of loan that we offer is loans for self-employed people with no guarantor. With all of our loans, we personally check for affordability, and if we feel confident that you can make repayments each month, we may approve your application. It is for this reason that we do not ask for a guarantor for any of our loans. We provide the freedom to borrow the funds you need without having to involve a family member or friend, reducing any complications in your personal life. No matter if you have a poor credit score, we will consider every application that is submitted to us, so we may be able to help if you can show stability in your affordability checks.
Another type of loan we offer is loans for self-employed people with bad credit. We pride ourselves on helping those who need it most, including customers with poor credit, past defaults or CCJs, and offer bad credit loans to cover their emergency expenses. We believe in taking a human approach to our affordability checks, rather than rely on an automated computer programmes. This allows us to review your monthly income, essential outgoings, and any other financial commitments to ensure you can comfortably make repayments. We do not base our lending decisions on your overall credit score, so if you have poor credit, we may be able to help.
Do I Meet The Loan Requirements For Self-Employed People?
To take advantage of our loans through QuidMarket, you will need to meet our loan requirements for self-employed people. We ask that:
- You are aged between 23 and 65 years old
- You are a resident of the UK
- You have a current UK bank account with a debit card
- Your business has been established for at least 2 years from Companies House
If you meet our loan requirements for self-employed people, we will be able to start the process, beginning with our application form. Every application is subject to affordability checks to make sure that you will not be left out of pocket, and extra documentation may be required to provide further evidence of your affordability.
To help us ensure a smooth application process, please make sure that you fill out the form carefully to avoid mistakes. We will run checks with Credit Reference Agencies and Fraud Prevention Agencies, so if there are any corrections to be made, the process could be slowed down.
We never like to turn an online for self-employed people application away, but if we feel that you would struggle to meet repayments, it would be necessary to help you avoid financial difficulties. Missing repayments have to be recorded on your credit file, which may make it more difficult to be approved by future lenders. We aim to keep our customers’ best interests at heart and would never want an applicant to borrow more they can afford. This is why it is essential to consider all other options first before applying for a loan.
Choose QuidMarket For An Online Loan For Self-Employed People
With QuidMarket, you can be confident that you are in reputable and safe hands when searching for loans for self-employed people with bad credit. We have made the application process for our loans easy, so that we can take the time to review each submission and ensure affordability. If we did not believe that you could meet repayment terms, we would not approve your online loan for self-employed people application for your own wellbeing. Here are a few more reasons why you should consider QuidMarket as an option:
- FCA Authorised – we are fully authorised by the FCA, which makes us a trusted and reputable lender within the industry.
- Flexibility – we aim to keep all of our loans as flexible as possible, including our loans for self-employed people with bad credit, offering applicants the chance to repay their loan instalments over a term that suits them.
- Options For Bad Credit – not every lender offers bad credit loans, but because we take the time to personally assess all applications for affordability, we may be able to help those with poor credit. Instead of taking your whole credit history into account, we focus on your monthly income, essential spending and financial commitments.
- No Hidden Fees – we are completely transparent and honest with our fees, so we can guarantee no nasty surprises. We do not charge late payment or upfront costs, and instead, explain the loan and repayments clearly before coming to an agreement.
If you have any more questions about our loans or would like more information on a loan for a self-employed person, you may be able to find the answer in our FAQs. If not, please do not hesitate to contact us and our friendly team will be on hand to help.