Self-Employed Loans

We believe in providing opportunities in the form of simpler, easier self-employed loans.

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Helping entrepreneurs is our passion

For many Australians, becoming self-employed is not just a way to make a living but a great way to have a healthy work-life balance, especially if you have a family. We encourage self-employed people to get advice and information on running their small enterprise.

What Are Self-Employed Loans?

A self-employed loan is essentially finance and loans for individuals who are sole traders, freelancers or have their own small business. A loan for self-employed business owners can provide entrepreneurs with the opportunities for personal and business loans that the banks may not be able to help with.

For most Australian business owners, self-employed loans are a fantastic option. This form of finance is tailored to your situation and doesn’t discriminate based on lack of documentation or credit score.

6 Examples of Self-Employed Loans

Being your own boss is challenging. Our goals is to streamline self-employed Loans

Buy the home you love with an ALC Home loan

Self-Employed Home loan

Australia has really changed in the way we work, not just due to the recent pandemic, but also with the use of remote self-employment digital technology.

Increasingly, people are working for themselves, as freelancers, as independent tradies, and self-employment is much more common.

Currently 17% of Australians are self-employed, with another 1 million working as contractors. And this is where finding a self-employed mortgage gets tough.

The bank requirement of the  proof of ‘standard income’ is becoming more difficult to document. Many Aussies applying for a self-employed home loan are rejected, due to an inability to to produce the right kind of “proof”.

Obtaining a self-employed home loan is one of the Australian Lending Centre’s passions, giving Aussies a fair go with finance.

Self-Employed Personal Loan

Applying for a self-employed personal loan can be a painful and disheartening process. The banks want to much documentation, profit and loss statements, tax returns and more.

For freelancers and private contractors this can seem out of reach and it is easy to think that there are no solutions.

At Australian Lending Centre we look for ways to qualify self-employed loan applicants, not reject them. We look at the big picture, and find the best personal loan product for your current (not past) situation.

Your self-employed personal loan could be for a holiday or home renovations. Whatever you need, our finance can cover it.

Bad credit personal loans for holidays to the tropics
fast car illustrating no credit check loans

Self-Employed Car Loan

Being self-employed shouldn’t make buying a new car difficult, but sometimes it can, especially if you are applying with the banks. It’s important to note however that independent contractors, freelancers and business owners can qualify for auto loans successfully. The most significant part of applying is knowing what kind of documentation will be required in order to show lenders that you can afford the payments over the period of the loan. 

Australian Lending Centre works hard to find the best car finance options for self-employed business people and we will guide you through the process, to make it simple and easy. Non-bank self-employed car loans are something we help provide on a regular basis, co apply today and get that “new car smell” in your life.

Self-Employed Equipment Finance

As a self-employed entrepreneur chances are you need equipment, and this equipment can be expensive and technology driven so you’ll need to keep it up to date, in order so stay competitive. Take photographers and designers as an example. You need a great camera, lenses, a large and clear screen and loads of memory on your computer, regardless of which platform your prefer to work with. You need to provide clients with the highest resolution images, processed and retouched with the most up to date hardware and software. 

Getting a loan for self-employed equipment shouldn’t be complicated. We want to help you success in your endeavours whether you are a tradie, photographer, videographer, designer or other business owner who needs the best equipment on the market to be competitive.

equipment and leasing finance
self-employed loans for small business

Self-Employed Short-Term Loan

There comes a time in every self-employer person’s career that cash flow gets tight. On paper you look great, you have been flat out, with plenty of work and you have a lot of new projects in the pipeline. The problem is you are waiting to be paid, and cash is very tight.

We can offer self employed short-term loans to tide you over, until your client’s pay you in full or you finish that massive project with a big payout at the end.

It’s a fact of life that sometimes clients can stretch COD to 30 days and some clients, often larger ones, can stretch 30 days to 90 days. While it’s important to keep pushing for payment you also don’t want to go under waiting for payment in the meantime.

Self-Employed Start-Up Loan

You’ve got a great idea for a start-up small business that in your gut you know is brilliant, innovative and will work financially. Trouble is there’s a big gap between and idea to a working business model. This is why we offer self-employed start-up loans. The banks will probably knock you back, they are not known for being imaginative or embracing new concepts. 

We on the other hand, love helping innovative, alternative thinkers with clever ideas and a solid business plan moving forward.

Australian Lending Centre will always try to accommodate self-motivated business people with brilliant ideas.

Self-employed loans for cafes and restaurants
short term personal loan consultant

Non-Bank Lenders for the Self-Employed

Your traditional banking institution needs verifiable, predictable income, especially for large loans. Unfortunately, self-employed income varies month-to-month or even year-to-year, making it hard for a bank to lend. 

Typically in a bank situation, you’re required to provide your tax verification, income statements, financial statements, proof of cash or assets and your credit file. For these reasons, self-employed loans are not commonly available from the banks. Even if you have impeccable credit, a financial institution can deny you because of unreliable income!

Self-Employed Low Doc Loans

If you are concerned that your credit score will stop you from getting the loan you need, don’t worry at all. At ALC we look to the future, not the past. We have loans for people with a bad credit history, no credit history, and more! You don’t have to have stress when applying with Australian Lending Centre because we will not perform credit checks unless authorised.

Stop stressing about life’s moments and start enjoying them with the self-employed loan you need now.

Call Australian Lending Centre on 1300 138 188 or enquire online today. We will provide a COMPLIMENTARY no obligation consultation that has zero impact on your credit file.

Low Doc Loans
Trouble making repayments and afraid of asking for another loan?

Self-Employed Bad Credit Loans

Being self-employed can take a huge toll on your finances. Even if you have bad credit, recovering credit or no credit, we go above and beyond to help you escape the cycle of bad credit with a self-employed loan.

We look at your whole business operation, future plans and work with you to get the finance you need to keep your business not just afloat, but thriving.

Don’t let your credit or your employment status get in the way of starting a business or funding your next project. Contact us today and see if you qualify for self-employed loans!

Get Started with Self-Employed Loans!

Running or starting a business is exciting! We share your excitement and want to help you reach your goal of owning your own business through self-employed loans. Banks and other lending institutions will turn you away just because you lack regular income or bank statements to prove you have the ability to payback the loan. We believe this is unreasonable and our goal is to provide small businesses with the self-employed loan they need.

You may also want to consider grants from the Government so check them out as well.

Getting started with Australian Lending Centre for a self-employed loan requires a 30 second form and just one phone call. We can tell you over the phone if you qualify and for how much. Contact a self-employed loan specialist today!

self employed equipment finance

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Learn More About Self-Employed Finance

Lack of safety net

Many people who are self-employed are less ready for negative events that larger companies. For example while large companies factor in things like legal challenges, most small business owners don’t have anything to fall back on should they face being sued. Many small business owners also use savings for emergencies, rather than using this money for potential growth. A lot of self-employed people also don’t allow contributions to their superannuation. 

Self-taught financial management

When you are self-employed you often have to learn to manage your business finances. This is often where small business people trip. There is a very high percentage of small business owners who freely admit that their methods are less than stellar and could do with improvement.

We recommend the following for help improve your financial management:

  • Review your financial situation on a regular basis
  • Develop and stick to a budget. Check out our free budget planner here…
  • Put away money for taxes
  • Ensure you keep your high-interest debt to a minimum
  • Give yourself a regular salary
  • Get advice on your business structure so it is optimised for tax and growth
  • Ensure you know what you can claim legitimately on tax and maximise this.

Banks are notorious for not lending to the self-employed. Most small business do not feel the banks are supportive or understanding of their needs.

Credit officers at banks look for collateral, regular income and employment, steady savings and other criteria that self-employed professionals don’t embody.

You can improve your chances loan approval with by applying with bank alternatives like Australian Lending Centre.

Do-it-yourself methods

A lot of self-employed professionals enter fields with little to no experience, educating themselves as the need arises.

Small businesses are amazing for their ability to perform all the same functions as large businesses with less staff. The problem is that self-employed people stretch themselves really thin and while they may get through, it often causes longer term problems with short cuts taken along the way and bandaid approaches. This can lead to inefficiencies and puts the small business at a disadvantage.

Specific knowledge on key topics is vital when running your own business. It’s a good idea to bring on a an expert adviser in a consultant capacity in areas that aren’t your core area of expertise, particularly when it comes to financial management.

Traditional lenders will generally consider any source of income that is stable, consistent, and ongoing.

Many businesses go through ups and downs. For instance, a property developer starting a new community may have a lot of expenses one year, buying property, applying for DAs and building. The business may show little income or even big losses for that year.

The following year, however, the properties sell and the income shows as very high. If you apply for a loan during the first year, you’ll have to prove to the lender that your business is healthy and that this is a regular pattern.

Self-Employed Finance FAQ's