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Loans for Self Employed

Secured Loans > Our Loans > Self Employed Loan

Our self-employed loans could help you afford those seemingly never-ending expenses. Whether you require important house-renovation work, need new business equipment, we’re here to help you secure the funds you need to achieve your financial goals.

We understand that securing finance when you’re self-employed isn’t always easy. With Evolution Money, you can apply for a secured loan for the self-employed of up to £100,000, with lending terms of up to 20 years depending on your circumstances.

We may consider you for a self-employed loan even if you have a poor credit score linked to CCJs, defaults or late payments, or even if you’re on a Debt Management Plan or have previously had an Individual Voluntary Arrangement (IVA). Our qualified mortgage advisors will discuss your financial situation and work with you to find a solution.

To apply for one of our self-employment loans, simply fill out our online form or contact us directly. You can do so by emailing info@evolutionmoney.co.uk or calling 0161 814 9158. Feel free to learn about the other loans we offer and check out the positive reviews left by our customers.

How much do you want to borrow? £5,000 to £100,000
For how long? 3 to 20 years.
Loan Purpose
What is your loan for? Your answer won't affect our decision but is helpful to know.
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Apply for a secured loan for the self-employed

Borrowing money can sometimes be more difficult when you’re self-employed but our loans for self-employment might be just what you need. We’ve helped thousands of customers find a suitable loan for them since 2011, from £5k loans to £100k loans.

The length of your application will depend on your circumstances and in most cases we won’t need to visit your home as we use online valuations, however we do sometimes have to do drive-by valuations. There also might be no need to contact your mortgage company and we’ll never charge you any hidden fees. Speak to one of our qualified mortgage advisors for a no-obligation quote today.

What is a secured loan?

Secured loans, also known as ‘homeowner loans’ or ‘second-charge mortgages’, are loans that are available to those who own their own home and who currently hold a mortgage. This loan is secured against your home, which is used as collateral (or ‘security’),and means that if you are unable to make the repayments in line with the conditions of your agreement, your home may be repossessed.

We will agree the repayment terms with you prior to taking out a secured loan for the self-employed, which will include the monthly repayments, interest rates and term. We currently offer variable interest rates on all our loan products.

What types of self-employed loans are available?

There are a few different types of loans for self-employed people in the UK, which include:

  • Personal loans for self-employed people are designed for personal use, like home improvements, new cars and debt consolidation.
  • Self-employed loans are designed for business purposes, like investing in your premises, buying new equipment or boosting your marketing.
  • Secured self-employed loans are ‘secured’ by valuable assets such as property, whereas unsecured loans are not. Offering security can improve your chances of getting finance and accessing higher loan amounts.

We offer secured loans for the self-employed with no guarantor required, and you can use them for a wide range of business and personal reasons.

If you’re looking to obtain credit, our secured loans can be used for a range of purposes

  • Carry out home improvements – a great way to invest back into your property.
  • Bigger personal items such as cars can be financed using a secured loan.
  • Even if you have bad credit, we could still help you with a loan.

If you're looking to obtain credit, our secured loans can be used for a range of purposes

Carry out home improvements a great way to invest back into your property
Bigger personal items such as cars can be financed using a secured loan
Even if you have bad credit we could still help you with a loan

Why choose Evolution Money for a self-employed loan?

Whether they’re taken out for business or personal reasons, our secured self-employed loans can create opportunities and make your life easier. Our approach means we’ve been able to help thousands of people by finding them a loan that’s right for them. Here’s a few more reasons why you can rely on us:

 Apply for a secured self-employed loan today

For further questions and advice, please don’t hesitate to contact us on 0161 814 9158. You can also ask us for a no-obligation quote over the phone if you’d prefer to hear from one of our friendly advisors.

Apply for my Self Employed Loan

Questions you may have about our self-employed loans

We’ve put together a list of our most frequently asked questions regarding self-employment loans:

We’ve put together a list of our most frequently asked questions regarding self-employment loans:

What can I use a self-employed loan for?

Our self-employment loans are fit for almost any purpose. Many people use their loans for:

Whatever your priorities are, contact us today to see if we could help you get the funds you need.

Who can apply for a self-employed loan?

We aim to make our finance options as accessible as possible. You can apply for a secured self-employed loan if you are a sole trader, director, contractor or small business and have been self-employed for over 12 months.

You also must be:

  • A homeowner with a mortgage.
  • Living in the UK.
  • Aged between 21-70* years.
  • Able to afford the repayments from your income.

*Loan must be paid back by 70th birthday.

What if I've been turned down elsewhere?

Even if your credit history is less than perfect or you’ve struggled to get a loan elsewhere, we’ll listen to your personal situation before making a decision.

Our range of affordable self-employed loan options can be tailored to your circumstances, so you can spread the cost over a period that suits you.

What if I have a bad credit rating?

We understand that your credit rating may not be a reflection of your current finances so, regardless of whether you have a poor credit score or have struggled to obtain a loan in the past, we’ll work with you and discuss your full story before deciding whether or not one of our loans would be right for you.

How much can I borrow?

We offer secured loans for the self-employed from £5,000 to £100,000, depending on eligibility.

What repayment terms are available on a self-employed loan?

Our self-employed loans for UK residents come with repayment terms of up to 20 years. The right term for you will depend on your preferences and financial situation. Choosing a shorter term usually means you’ll pay less in interest, whereas longer-term loans come with smaller monthly repayments.

You can use our handy online loan form and discuss with one of our expert advisors to compare your repayments with our different term lengths.

How soon could I get my self-employment loan?

We always aim to fund approved loans as quickly as possible. In the past, we have been able to transfer funds to customers within a few days of their application being approved, but this will depend on how quickly we receive all your documentation, among other factors.

Are there any fees?

We’re upfront about our fees from the beginning so you won’t be caught out by any costly surprises later down the line.

As well as your agreed home improvement loan rate, you’ll pay a lending fee of £714, and a product fee. You can view a full breakdown of a representative loan here.

How do I apply for a self-employed loan with Evolution Money?

Being self-employed can put extra pressure on your time – so it’s good to know that our application process is straightforward.

Just fill out our simple online form or get in touch with our team of expert advisors by emailing info@evolutionmoney.co.uk or calling 0161 814 9158.

You can find out more about how to apply for a self-employed loan with us online. We also advise that you read our application details so you feel fully informed before beginning your application.

What information do I need to provide?

There are a few things we’ll ask for when you apply for one of our secured loans for the self-employed, which will help with our affordability assessment:

  • Proof of Income such as certified/stamped accounts from your accountant, or a submitted SA302 form
  • Proof of address, such as utility bills
  • Proof of identity, such as a passport or driving license
  • Your mortgage account number and home insurance documents
  • If you’re a sub-contractor, we’ll ask for six months of remittance slips
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
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