Loans for Self-Employed People

Self Employed Loans

Apply Now

Being self-employed can offer you great professional freedom, giving you control over your finances and the ability to make your own business decisions. There are many benefits of being self-employed, but when it comes to getting a loan, it can be trickier as a self-employed person than someone who is on a payroll due to a lack of detailed salary records.

It is far from impossible to get a loan as a self-employed person, however. Proper Finance will connect you with the best loan provider for you, even if you are self-employed.


Secured loans products are generally considered to be more suitable for self-employed people. This is because lenders will not have to worry too much about your income when their money is secured against an asset of yours, such as your home or your car.

This is why secured loans are better options for people with poor credit histories or self-employed people with inaccurate or unreliable records of their accounts, as is the case for many self-employed people.


  • Operate a business or profession as a sole proprietor
  • Be a partner in a partnership; or a
  • Consultant;
  • Independent contractor;
  • Someone in changeable employment


Yes – it may still be possible for you to get an unsecured loan as a self-employed worker. In order to be eligible, you must have a good credit rating and evidence proving that you have a regular cash flow such that you will be able to afford your repayments.

The interest you are charged will usually depend upon whether you have certified accounts or some form of proof of income. You may end up paying more in interest as a risky customer if you do not have comprehensive records of your accounts. Your loan application will be processed more easily if you are self-employed with accounts worth three or more years and a good credit record. If you can fulfil these requirements your application will be quickly and easily processed by our fair and supportive lenders, without the hassle.


  • Your monthly incomings – are they regular? 
  • How you will use the loan 
  • How much do you need to borrow? 
  • Other essential outgoing payments 

There is no reason why self-employed people should not have access to loans products; being self-employed just means that there are different administrative steps that go into applying for a loan than for those that have clear monthly salaries from an employer. If you are able to ensure that your financials are as clear as possible and that you will be able to make your monthly repayments, then there is no reason why a secured loan cannot be the product for you.


Firstly, use our free and simple comparison table to compare rates from our list of featured lenders. You can click through and apply on their website directly. Alternatively, you can provide us with a few of your details and one of our partners will get back to you promptly to discuss your options.

The main benefits of our website include:

  • No upfront fees
  • We will not pass on your details to third parties without your permission
  • Our site is on a secured server (https) to protect your details
  • Compare rates from several competitive lenders
  • Choose from over 50 different unsecured loan products

Because we have partnered with multiple lenders, we are able to offer you the choice you deserve when it comes to finding the right loan for you. With us, you are free of the restrictions and set-rates involved in looking at a single lender.

We allow you to borrow from £50 up to £50,000 from one of our many lenders.


Whilst the criteria may vary between lenders, the eligibility factors include:

  • Must be a UK Resident;
  • Must be over 18 years of age;
  • Must have a working debit account, email address & phone number;
  • Must be employed, earning at least £500 per month and able to afford monthly repayments;
  • Must have no history of bankruptcy, CCJs or IVAs.

What happens if you cannot repay?

Failing to repay your loan may result in your credit rating being negatively impacted, which could harm your ability to access other financial products in the future. If you take out a loan that is secured against an asset, such as your home or your car, defaulting on your repayment could lead to the repossession of that asset.

Please ensure that you choose a realistic repayment term when applying for a loan with any one of our providers such that you are able to make your monthly payments. If you expect that you will not be able to make a monthly repayment, ensure to let your chosen lender know in advance. Most lenders have sympathetic policies which allow for a grace period of a couple of days if you ensure to notify them of your situation.

Apply Now