Self-Employed Loans: What You Should Know | Jenngem
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As a freelance writer and blogger, I am self-employed, and I have big dreams of where I want my "business" if you will go. I want to scale it into something bigger, something larger, something amazing. I always have. That, and I have a couple of ideas for a small business that I would one day love to implement.
But the biggest thing that stops me from chasing these dreams? It all comes down to not having enough money for a start-up. 

I always admired start-ups, because they are always coming up with new and innovative ideas that move us further and further ahead into the future. However, I also realize, they probably faced the same dilemma that I, too face. At some point, they did not have enough money to start their business. Now while I certainly cannot speak for any startups at all, whether they borrowed money from someone, borrowed against something, or Kickstarted their startup, I am sure that there are a few out there that relied on self-employed loans.

What Is A 'Self-Employed' Loan?

While you could certainly start a "limited liability company," or an "LLC," and go in with partners to raise funds for your company, this also means that you will not be the sole owner of your company. If you want to stick to being a "sole-proprietor" of your business and retain your self-employment status, a self-employed loan may be just the thing for you. It helps you to raise capital (money) and maintain your status. 

Do I Need To Bring My Bank Statements?

This is the great thing about self-employed loans. You are not required to bring in your bank statements in. This isn't to say that a lender will make inquiries into your taxes and credit history. That may still happen. But you don't have to print out a bunch of bank statements and haul them to a creditor's office in hopes of getting a personal loan!

Does A Self-Employed Loan Help Build My Credit?

That is a big old YES! Just like any other kind of loan, though, you do need to have a decent credit score to work with in order to secure a loan. But with this kind of loan, you are also able to build up your credit to a great score. Who doesn't love that?

How Many Lender Options Do I Have?

Now, in the past, many lenders were quite weary when it came to self-employment loans. That is because as freelancers, we all know too well, how our incomes can fluctuate. But that was then. This is NOW. We are living in 2020, GUYS! Tons of lenders now want to help us achieve our dreams. There are many options for lenders these days. 

So what are you waiting for? If you have a dream, GO CHASE IT! Get yourself a self-employed loan and start up your very own company! If you can dream it, you can absolutely do it. With one of these loans, it is totally possible. 

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