Convenient Loans for the Self Employed People
Self employed people find it difficult to give any income proof. So they are often neglected by the lenders. But these loans are designed for these people keeping in mind their work structure.
No income proof self employed loans are available in secured and unsecured options. Secured loans need collateral against the loan amount. The loan amount which can be borrowed through these loans varies from £5000 to £100000. The rate of interest depends on the loan amount and the loan term. The loan term is 5 years to 25 years.
Unsecured loans do not require any collateral. The loan amount depends on the need of the borrower and repaying ability is important. The loan amount varies from £1000 to £25000. The loan term varies from 1 year to 10 years. The rate of interest is higher than the secured form.
These loans do not need any income proof and are hassle free loans. The lender does not interfere in the use of the loan. The borrower uses the loan to pay medical bills, to buy car, to pay other bills and expenses.
The borrowers can get the no income proof self employed loans if they fulfill some criteria. The borrowers should possess a bank account. The borrower with bad credit can also apply for these loans. The borrower should have regular income. For secured loans the borrower should place some assets as the collateral. The bank statements should be updated. The borrower should give accurate personal details like address, phone number and citizenship identity. These loans are approved on the basis of the monthly income of the borrower.
No income proof self employed loans are offered by the online lenders, financial and lending companies. Online loans are fast in approving and processing these loans.
No income proof self employed loans are offered by the online lenders, financial and lending companies. The loan amount is £1000-£25000 and £5000-£100000 for the unsecured and secured option. The loan term is 1-10 years and 5-25 years for unsecured and secured options. The borrowers should have a bank account and monthly income.