Loans for Self-employed

What Are Self-Employed Loans?

Self-employed loans are a type of personal loan that is specifically designed for self-employed individuals. These loans can be used for various purposes, including consolidating debt, financing a large purchase, or covering unexpected expenses. Self-employed loans typically have higher interest rates than traditional personal loans, but they can still be a good option for people who need access to additional funds. Depending on the loan amounts, financial statements will also vary. Financial commitments must always be prioritised so that monthly repayments will not be missed. Make sure that you seek professional advice to avoid debt consolidation and to discuss things like a fixed-rate home period and a variable interest rate.

Am I Eligible for a Self-Employed Loan?

The process of qualifying for a self-employed loan is different from that of a traditional loan. When you’re self-employed, you don’t have the same documentation to show lenders that borrowers who receive regular paychecks do. This doesn’t mean you can’t get a loan, but it does mean the process is a bit more complicated.

This is because lenders rely on things like tax returns to verify your income. If you’re self-employed, you probably don’t have any of those things. So how do lenders know if you can afford a loan? There are a few things self-employed people can do to get approved for a personal loan:

• Build business credit: One way to make yourself more attractive to lenders is to build business credit. This is separate from your credit, and it’s a record of how well you’ve managed your business finances. To build business credit, you must use a business credit card responsibly. You should also make sure you’re paying all your bills on time.
• Provide documentation: Another way to show lenders you’re a good candidate for a loan is to provide documentation of your income. This can be things like bank statements, invoices, or tax returns. Lenders will use this information to verify your income and get an idea of how much money you make.
• Get a co-signer: If you’re having trouble getting approved for a loan on your own, you can always get a co-signer. This is someone who agrees to take on the responsibility of repaying the loan if you can’t do it. Remember that this is a big responsibility and should only be done with someone you trust.

These are just some of the things you can do to get approved for a self-employed loan. Remember that each lender has different requirements, so it’s essential to shop around and find the right one.

Why Choose Self-Employed Loans with City Finance?

• Minimal Documentation
  We accept three months of business bank statements, ABN records, or a Profit & Loss summary instead of rigid payslips, making it easier to qualify for self-employed loans even if your income varies each month.
• Inclusive Underwriting
  Whether you’re a freelancer, contractor, consultant, or small‑business owner, our personal loans for the self-employed focus on your real repayment capacity rather than past credit hiccups.
• Flexible Repayment Plans
  Align your instalments with your cash flow. Choose weekly, fortnightly, or monthly debits timed to your busiest revenue cycles, so you never feel cornered by a lump‑sum payment.
• Transparent Fees
  SACC loans ($500–$2,000) carry a 20% establishment fee plus 4% monthly maintenance. MACC loans ($2,001–$5,000) have a flat $400 fee and 48% interest rate, no hidden charges, ever.

What Supporting Documents Do We Need to Process Your Self-employed Loan Application?

If you’re self-employed, you know that getting a loan can be difficult. The good news is that at City Finance, we understand your situation and can help get you the funds you need. Whether it’s for a new car, home improvements or anything else, we can provide self-employed personal loans quickly and easily. Below are the documents you’ll need to provide when applying for a self-employed loan with City Finance.

• Your most recent tax return
• A Profit and Loss statement from your business
• Bank statements from the last three months
• Personal identification (e.g. driver’s license or passport)

If you have any questions about the documents required for your self-employed loan application, our team of experts will be more than happy to assist you. Contact us today, and we’ll help get you the funds you need.

What Can I Use a Self-employed Loan For?

A self-employed loan can be used for the following:

Furniture & White Goods

Furnishing a house can be expensive, but it doesn’t have to be. Our furniture and white goods loans can help you afford your home essentials, and you can pay that amount off gradually over the loan terms. We can offer small cash loan amounts between $500 and $5000 to help you afford your home essentials, and you can choose the loan term that best suits your needs. Whether you’re looking for a new bed, couch, dining table or washing machine, we can help you get the funding you need. So don’t wait any longer, apply for a furniture and white goods loan today!

Car Repairs

Car repairs can be a significant financial burden, especially when they happen unexpectedly. For many people, a car is essential for getting to work or running errands, so being without a working vehicle can be a real inconvenience. One solution for covering the cost of unexpected repairs is to take out a car repair loan. These loans are designed to provide quick access to cash, so you can get your car fixed and back on the road as soon as possible.

In addition, car repair loans are typically unsecured, which means they don’t require collateral like a traditional auto loan. As a result, they can be an excellent option for people who don’t have savings or a credit history to qualify for other types of financing. If you’re facing an unexpected car repair bill, a loan could be the solution you need to get your car up and running again.

Medical Bills

Australians are privileged to have free and comprehensive healthcare from the public health system, which could include features such as surgery, hospital stays, GP visits, and some specialist care. While our healthcare system has many great attributes, there are also several expensive aspects not covered by insurance that can leave you in debt.

Often, medical care is expensive and can be difficult to afford when the costs are not anticipated. Also, treatment sometimes cannot be delayed. When you need care, you usually need it right away and will have to pay for the associated expenses immediately. Therefore, you can benefit from a medical loan from us to cover your medical bills. As a bonus, our medical loans come with low interest rates and flexible repayment options to suit your needs. You can rest assured that you’re getting the best possible deal when you choose us for your medical loan needs.

Weddings

For many couples, a wedding is the most special day of their lives. It is a joyous occasion celebrating the love and commitment between two people. However, weddings can also be very expensive, often costing thousands of dollars. If you are hoping to finance your wedding with a personal loan, we can help.

Our wedding loans range from $500 to $5000 and can be used to cover the cost of food, music, photos, flowers, and more. So whether you need a little extra money to complete your budget or you would like to finance your entire wedding, we can provide the financial assistance you need.

Home Renovations

Home renovations can be a major expense, but they can also add significant value to your home. Our home renovation loans can help you cover the costs if you’re considering taking on a renovation project. Our loans are designed to help homeowners with money to fix up their houses. Whether you’re looking to update your kitchen or bathroom, or you need to make repairs due to damage or wear and tear, we can help you get the funding you need.

In addition, our loans can be used for emergencies that require immediate attention. So if you have cracks in your foundation, a broken faucet, or electrical problems, we can help you get the money you need to make the repairs. With our home renovation loans, we can help you make your vision for your home a reality.

Holidays

If you’re looking to finance a holiday, City Finance offers unsecured personal loans that can be used for anything travel-related. Whether you’re looking for plane tickets, hotel accommodations, tours, or even just some new luggage, our travel loans can help you get there. And because they’re unsecured, you won’t need any collateral or security when applying. So if you’re ready to escape the everyday and explore something new, apply for a City Finance travel loan today.

Funerals

Losing a loved one is, without a doubt, one of the most challenging experiences you will have in your lifetime. The grieving process is emotionally straining. If you are responsible for organising the funeral, the added stress can be too much to bear – especially if you do not have the financial means to give them the send-off they deserve.

At City Finance, we understand how important it is to honour your loved one in a way that feels right to you. That’s why we offer funeral loans that can be used to cover any related expenses. Whether you’re looking to pay for a large celebration of life, an intimate burial or already have a savings fund and just need a small amount to cover additional costs, we can help.

During this difficult time, let us take care of the financial burden so that you can focus on what’s most important – honouring the memory of your loved one.

Self-Employed Loans for My Business Set-Up

• Purchase Inventory or Increase Working Capital: Get the stock you need or boost day-to-day cash flow to keep your operations running smoothly.
• Equipment & Tools: Upgrade your laptop, camera, or trade tools to boost productivity.
• Marketing & Growth: Fund a website redesign, advertising campaign, or professional development.
• Tax & Super Obligations: Smooth out seasonal tax bills or super contributions without dipping into business reserves.
• Cash Flow Gaps: Bridge the gap when clients pay late or you’re waiting on reminders.

Vet Bills

Pet owners are all too familiar with the unexpected cost of a vet bill. Whether it’s an annual check-up or an unforeseen surgery, the bill can quickly add up to hundreds or even thousands of dollars. And, since most vets require payment before treatment, pet owners are often left scrambling to come up with the money.

For those in a tight spot, taking out a vet bills cash loan may be the best option. At City Finance, we can work with those with bad credit history or low credit scores. And, because the loan is paid back over time, it’s easier to manage than a large lump sum.

So, if you’re facing unexpected vet bills and don’t know how you’ll come up with the money, consider taking out a small cash loan. It may be the best way to get your beloved pet the care they need.