Make Your Life Easier with Loans for Self-Employed

As a self-employed, you must be aware of challenges that you face to have your loan application approved. It requires you to go through various financial hurdles to prove your repayment capacity. A direct lender prefers not to lend money to a self-employed because of unsteady flow of income. Whether you take out a mortgage or unsecured loans for self-employed, a lender will follow stringent benchmarks to ensure that you will pay off timely.

The lending system has evolved over the time. Gone are the days when lenders would follow stringent criteria. UnsecuredLoans follows flexible algorithms to provide financial support to self-employed as well as employees. While we ensure that every borrower gets financial assistance, we vouch that you do not get into a debt spiral. Even if you are trying to take out loans for unemployed, we follow flexible lending criteria.

Fulfill these conditions and you can qualify:

If you meet the eligibility criteria, you can fill out the application form online. We will examine your application to decide on the disbursed amount that depends on your income source.

With UnsecuredLoans, you will also get credit without proof of income if your business is expected to grow.

We know some people earn through a part-time job or freelancing regardless of their full-time employment. These income sources support a lot during unemployment. You can take out reputable loans for the unemployed if you do not have enough funds to finance the emergency.

Features of our Loans for the Unemployed:

To take out these loans, you can submit any income source to prove your repayment capacity. Whether it is rental income or funds from freelancing, we welcome all sources of income. We will look over your income statement to determine your affordability before transferring funds to your account. Applying for loans for unemployed is a bit easier with UnsecuredLoans.

Credit Without Income - Is It Feasible?

Generally, lenders decide the loan disbursal limit based on these factors:

Since the self-employed often fail to submit an income source, lenders rebuff their loan applications. However, some lenders are trying to bring flexibility in their terms to provide the self-employed with financial assistance. Self-employed borrowers can get credit without proof of income if they fail to submit a source of income.

In this situation, you will be offered a secured loan. With collateral, the lender does not need to look over your income sources.

The unemployed can also get credit without income. We understand that your employer may make you redundant anytime. Not all of you would have another source of income to finance your urgent needs unless you get a new job. In this situation, you can take out the loan by submitting a proof of employment offer. This assures the lender that you aim to join a new company and you will pay off timely.

UnsecuredLoans aims to mitigate the financial burden of every kind of borrower. We lend the needy - no matter you are self-employed or unemployed.

Frequently Asked Questions:

How can I apply for a self-employed loan quickly and easily?

At the present era, getting the loans for self employed people is not a tough task at all. Instead, it has become quite easy thanks to the online application system. Majority of the modern day lenders are following the online application system and it is enough for the borrowers. These few simple steps are required:

  • Visit the website of the lender
  • Start filling an online form with mandatory details
  • Submit it quickly to get the early approval

That’s it!!

What are self-employed Loans or credit?

Self employed loans are those forms of credits where the financial assistance is given to those individuals, who are earning their own income. They need loan because they want to advertise their products more and to expand their business to more and more people. To get the approval on their application on credit for self employed, they have to show the report of their investments and earnings to the lender. And if your earning report is true, then lender may allow you to avail credit with negative Schufa score.

Can I get self-employed credit without proof of income?

As per the recent lending trend at the marketplace of Germany, it can easily be said that the prospects of loan for self-employed persons without proof of income is quite a possibility. But it may have two conditions, such as:

  • Amount should be a small enough
  • Presence of guarantor becomes mandatory

If your requirement match to these conditions then getting approval on loans for self employed becomes easier.

Can I get self-employed Loans without Schufa?

If you have a valid Schufa score, then you can show to the lender your creditworthiness. But if you don’t have Schufa score, then approval becomes tough especially if you approach the traditional lending institutions like banks. On the other hand, if you follow the policies of reliable direct lenders like UnsecuredLoans DE, then the possibility occurs of getting credit for self employed without Schufa.

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5000

Representative Example

Loan Amount (for 6 months)
€300
Five Repayments of
€87.31
One Final Repayment of
€79.96
Total Repayment
€516.51
Interest Rate
292% pa (fixed)
Representative
1250.2% APR