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Being your own boss, managing your own business and time are just a few perks of being self-employed. Whether you want to start up your own business or are looking to finance your next venture within your current company, securing a loan when you are self-employed can be challenging. Most lending companies will ask for evidence of your salary / income but being self-employed, your income may come from sources such as specific contracts or dividends and you may find that you don’t pay yourself a regular salary. Whatever the case, TFS Loans aims to help those who are self-employed and seeking loans.
Loans from TFS work differently to most other lending companies. We offer guarantor loans, which means that even if you have poor credit, your loan application will not be affected. All that is required is that you provide a guarantor with your loan application, who agrees that should you fail to make repayments on your loan, they will cover the costs for you.
A self-employed loan from TFS means that should you need to invest in your current business or a new one you wish to start, or even just need a loan for personal reasons, your credit score will not be the deciding factor. So, there is no need to panic if your credit score is not high enough for normal lenders, TFS Loans could help with your financial needs. As long as you can provide a guarantor with your application and can afford the repayments on the loan, we at TFS, will more than likely be able to accept your self-employed loan application.
Self-employed loans from TFS, are ideal for those with a new business or one that hasn’t been established for long. Most lending companies will require to see evidence of income for 2-3 years if you are self-employed, which have been signed off by an accountant. This makes it difficult for the self-employed looking for a loan, especially if you are trying to build a new business or finance one that has not been long established.
If you are self-employed and seeking a loan but you have a poor credit score, TFS Loans might be the ideal place for you. By offering guarantor loans for the self-employed, you don’t need to worry about poor credit as all we require is that you have a guarantor who is happy to make any payments you miss on your loan. At TFS, we can spread the repayments over a longer period, meaning that they may more affordable and you can keep on top of them, along with any other monthly bills you may have.
If you can provide a guarantor with your application, who is willing to make repayments should you be unable to, TFS Loans could help you finance your new business or anything that comes your way in life.