1300 529 603

Toll Free Number

1300 529 603

Toll Free Number

The easiest way to grow a small business

The Easiest Way To Grow A Small Business | Financial Information | Tiger Finance

Table of Contents

When you are self-employed, it can be difficult to find ways to grow your small business. One easy way is to use a self-employed loan to fund your growth. A self-employed loan is similar to a personal loan, in that you may be able to use it for just about anything.

As a self-employed loan is for sole traders or for those who own their own business, often self-employed loans can be used for most aspects of funding a business. Generally, self-employed loans can be used to build or renovate retail spaces, for advertising costs, and to grow your business, among many other uses.

If you’re wondering how you can use a self-employed loan to grow your business, read on below.

Man applying for a loan for his small business | Financial Information | Tiger Finance

What is a self-employed loan?

A self-employed personal loan is a personal loan for people who are sole traders or run their own businesses. While there is no specific type of loan called a ‘self-employed loan’, there are several loan options available that are tailored to the self-employed.

In some cases, self-employed loans can require less documentation compared to a traditional loan. This can be helpful if you’re struggling to meet the required documentation during the application process. Generally, a self-employed loan may require you to provide tax returns and payslips to prove that you can meet the repayments of your loan.

Can you use a self-employed loan to build retail space?

Since a self-employed loan is so similar to a personal loan, it can be used for many things. You may decide to use your self-employed loan to build retail space, or to renovate an existing space to your liking. It’s generally up to the borrower what the funding is used for in the case of a self-employed loan, so unless your loan terms state otherwise, you may be able to use your loan funds to build or renovate a retail space.

How can a self-employed loan be used to grow a small business?

As someone self-employed, there are many things that you could use the funding to help with. These may include:

  • Getting insurance for your business
  • Setting up a website
  • Finding a space and paying rent
  • Purchasing stock, vehicles or any equipment needed
  • Marketing and advertising costs
  • Obtaining any industry-specific licences or permits
  • Setting up phones, electricity and other utilities
  • Hiring staff, and paying salaries
  • Expanding and growing your business
  • Paying off outstanding costs
Happy woman expanding her small business | Financial Information | Tiger Finance

What kind of loans are available?

If you’re a sole trader or self-employed, you may qualify for one of the following loans:

  • Secured or unsecured loans- Generally, these are personal loans that you repay over an agreed-to period. A secured loan is a loan guaranteed by an asset, for example, a car. Your lender would use this asset as security, which means that if you cannot make the agreed repayments your lender could take possession of the asset and sell it to cover the cost of the loan.
  • Specialist loans – These are loans that are done through a specialist lender who provide loans for those who are self-employed. You may need a specialist due to your credit score, loan purpose, needing a loan after bankruptcy or not meeting the income verification requirements. Generally, if you’re a specialist borrower, you might be someone with a need for finance who cannot meet the criteria put forward by traditional lenders.
  • Low document loans Can be used if you’re having trouble providing the number of documents needed for another loan. Low doc loans can be taken out using less documentation than what is required for a traditional loan. Typically, low doc loans are for potential borrowers who are self-employed or small business owners and don’t have access to the number of documents normally needed when applying.

Where does Tiger Finance come in?

With Tiger Finance, we can help to get you a loan in four easy steps. You will have a free consultation with one of our specialists, and we will tailor-make you a loan. We will negotiate with lenders on your behalf before you are approved.

We have helped countless Australians with both good and bad credit ratings to get funding. We understand that lending criteria from other lenders are too strict and can stop you from achieving your goals. That is wrong, and it should not hold you back.

Our finance specialists can help you find the right loan for your project. Getting a loan can be complicated, but we will find a loan that makes the process that much easier.

If you are one of the many Australians finding getting a loan difficult, Tiger Finance can make the process simple and pain-free Call today to speak to one of our loan specialists for your free initial consultation.

Table of Contents

Find MOre Information