Loans for Self Employed
£500 – £1,500 personal loans
Can I get a loan if I’m Self-Employed?
If you’re self-employed, applying for credit can feel harder than it should. The good news is that being self-employed does not stop you from borrowing, but you may need to provide more information.
All regulated lenders must follow rules set by the Financial Conduct Authority (FCA) to make sure credit is affordable. Because self-employed income can change month to month, lenders will want clear proof that repayments are manageable.
What You May Be Asked For
When applying, you could be asked to provide:
- 1–2 years of tax returns (SA302 forms)
- Recent bank statements
- Details of your regular household bills and debts
- Evidence of ongoing work or consistent income
Some lenders may also use secure Open Banking checks to review your recent income and spending.
Your Credit History Is Important
Lenders will review your credit file to see how you’ve managed borrowing in the past. Missed payments or high balances can reduce your chances of approval.
Before applying, you may wish to check your credit report with:
- Experian
- Equifax
- TransUnion
- Clear Score
Try to avoid making several full applications close together, as this can affect your credit score. Where possible, use eligibility checkers first.
How do I apply?
If you’re self-employed applying for a loan with Loans 2 Go is quick and straightforward:
- Choose how much you would like to borrow and click Get Started.
- Provide some basic details and we’ll carry out an eligibility check that won’t affect your credit score.
- If you’re eligible, complete the full application. Once approved, the funds could be transferred to your account the same day (subject to working hours).
Whether you’re looking to cover a temporary cash flow gap, invest in your business, or manage day-to-day expenses while self-employed, a Loans 2 Go self-employed loan could provide the financial support you need.
Common Challenges for Self-Employed Applicants
Many self-employed consumers experience:
- Fluctuating income – Irregular earnings can make affordability checks stricter.
- Lower declared profit – If you reduce taxable profit for tax purposes, lenders may use the lower figure.
- Short trading history – Fewer than 1–2 years of accounts can limit options.
- Recent income drops – Lenders may base decisions on your most recent year.
- Stronger affordability checks – Variable income is often treated more cautiously.
Tips to Improve Your Chances
- Keep tax returns up to date
- Avoid missed or late payments
- Reduce existing debts where possible
- Stay within your credit limits
- Apply when your income is stable
Does Loans 2 Go offer loans for self employed?
Yes we offer loans for self employed applicants ranging from £500 up to £1,500, helping you access the funds you need when you work for yourself.
Repayment terms are available over 18 months, with the loan rate tailored to your individual circumstances.
To make managing your loan easier, repayments can be made weekly, fortnightly, or monthly. Payments can be collected via Continuous Payment Authority (CPA) using your debit card or made through our secure online payment portal. If you’re in a position to pay off your balance ahead of your repayment schedule, you’re welcome to do so.
Borrow Responsibly
Only apply to lenders authorised and regulated by the Financial Conduct Authority. You can check a firm on the FCA register.
If a lender promises guaranteed approval or avoids affordability checks, treat this as a warning sign.
Being self-employed doesn’t mean you can’t get credit. Being prepared, organised and realistic about what you can afford will give you the best chance of approval.
Personal loans | 18 months
Life is full of ups and downs, and sometimes things just don’t go to plan.
£500 - £1,500
personal loans
Confidential &
secure
Money
same day
FAQ
You can choose to repay your loan weekly, fortnightly or monthly.
Payments can be made safely and securely online using our online customer portal. You will need your agreement number and a bank debit card to make this payment.
Yes, you can settle your agreement at any time and there is no penalty charge for doing so. To find out how much you need to pay to settle your agreement, simply request a settlement figure by logging into your online customer portal.
Representative example: If you borrow £999 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will make 18 monthly payments of £165.39, repaying £2,977.02 in total. This means you would pay £1,978.02 in interest in addition to the amount borrowed. The rate and term you are offered is dependent on your individual circumstances.
Warning: Late or missed repayment can cause you serious money problems and may affect your credit record. For independent help, please go to www.moneyhelper.org.uk
