A Guide to Cell Phone Signal Boosters

Poor cell phone reception continues to be a major problem…

Debt Busters: The Complete Guide to Getting out of Debt

When it comes to getting out from under the mountain…

A Guide to Self Employed Loans

A Guide to Self Employed Loans

Being self employed can be a wonderful way to make a living. Being your own boss means that you can set your own hours, work when you want to and choose the type of work that you want to actually do. Self employment can be extremely liberating until you realize that to keep up with your competition, you need to expand your business services and for that you need to purchase new equipment. In order to afford this expansion you will need to look into the possibility of applying for self employed loans.

There are not that many self employed persons who are able to afford the costs of expanding their business on their own. For them self employed loans is the obvious answer. However, if you are self employed you most likely already realize that business expansion is not the only reason why you would consider self employed loans.

In today’s tense economic times, there are many small businesses that are unable to pay their employee wages. Other business owners are finding it harder to pay their vendors and suppliers on time. Or perhaps you need to attend a continuing education class in order to refresh your knowledge and expertise in your chosen field, such as with massage therapists and cosmetologists. If the business that you run on your own is a copywriting business, you may have found that you need a new computer that is faster than your current one so that you can process your clients’ requests as quickly as possible. Or maybe you are just starting out with your small business endeavors and are thinking about buying a franchise. All of these situations require a serious consideration of self employed loans.

There is a large variety of self employed loans that you can apply for, such as short term loans and home loans. There are even quite a few self employed loans to help you purchase vehicles for your business as well. The best place to look for self employed loans is first with your current bank or local credit union. You will most often get a more preferable rate if you have been with your current financial institution for a number of years. You can also apply for self employed loans through your local chapter of the Small Business Administration. There are many online sources for self employed loans as well that may offer you a much better rate than any other lending institution.

Do not be afraid to apply for self employed loans merely because you run your own business. While it is true that the better your credit, the better the rate you will receive, you will not be automatically disqualified just because you are self employed. Many lending institutions do see a self employed person as a risk and are more inclined to consider their application more carefully. However, the advantage that you have is that you can prove your income, and that you are always in a position to increase your income.

Photo courtesy of Tracy O.

Follow Zenedy