| Getting and keeping credit is enough of a | | | | do not have these, you are likely to have |
| problem all by itself, but being | | | | problems getting the loan you are after. |
| self-employed and trying to obtain loans is a | | | | |
| whole new ballgame. It is a good bit harder | | | | Either way, a secured personal loan is much |
| for a person who is self-employed to obtain | | | | easier to obtain than an unsecured personal |
| credit for anything than it is for a person | | | | loan. As a self-employed person, it is very |
| who has taxes taken out of their check every | | | | hard to obtain an unsecured loan from a large |
| week. | | | | company if you are within the first year of |
| | | | your business. It is often easier to go with |
| As you are probably aware, all places require | | | | a smaller company where you can talk to a |
| you to prove that you actually have income | | | | loan officer one on one and explain your |
| before they will lend you money, but some | | | | situation. If you can make the person you are |
| places require different kinds of proof than | | | | dealing with care about you, they will often |
| others do. Depending on whether you are | | | | do the best they can to get the money you |
| dealing with a large company that runs | | | | need. The most you will typically get when |
| applications through a computer or a company | | | | dealing with large companies such as Capital |
| where you can actually speak to the person | | | | One or HSBC is a somewhat nameless person |
| who reviews your application, you may have to | | | | that likely lives in a foreign country |
| have anything from tax returns to paycheck | | | | reciting company rules and regulations with |
| stubs or even down to just a letter from your | | | | next to no room to maneuver to help you out, |
| employer. | | | | no matter what your situation is. Trying to |
| | | | make these people care about you is usually |
| When dealing with small companies, you may be | | | | fruitless, so if you are newly self-employed |
| able to get away with just a record of your | | | | and need a loan of any kind, try to deal |
| income that you have kept personally for the | | | | locally with an actual person. This is the |
| past year or more, but when dealing with | | | | easiest way to get the funds you need, |
| large companies that approve and reject | | | | whether it is for a vehicle, equipment, or |
| applications by computer, you will likely | | | | anything else you might want a loan for. |
| need the past two years' tax returns. If you | | | | |