If you’re self-employed and have tried to get finance in the past, you know it isn’t easy.
Banks and lenders have a hard time with an irregular paycheck, as it makes their job of trying to figure out whether or not you can afford a loan a lot harder.
How can I get a loan as a self employed owner?
It helps to have the following:
- Show that you’ve been self-employed in the same industry for 12 months or longer
- Provide BAS (Business Activity Statements) for the past 12 months
- Show that you’ve been registered for GST for the last 12 months
- Show 6 months of statements for your business
Loans for the self-employed also tend to come with higher interest rates and higher deposit requirements.
How can we help you?
LFG Loans specialises in helping people with irregular incomes get the finance they need – we can help you not only find a loan that suits you, but can also advise on how to best take advantage of your business status to save money on interest payments. To find out if you qualify for finance, fill out the form to the right or request a call-back at a time that suits you.