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What You Need to Know About Getting a Personal Loan When You’re Self-Employed

If you’re self-employed and short on cash, you may be eligible for borrowing options including personal loans. Personal loans provide a set amount of money that you repay over a fixed time frame, and they can be helpful for borrowers looking to consolidate debt or cover a large or emergency expense.

Before you look for a loan, you should know what to expect as a self-employed applicant. It’s also important to consider all of your options to make sure a personal loan is the right choice – it may not be.

“You shouldn’t be looking for a personal loan if you’re self-employed and it’s for the business,” says Lori Atwood, a certified financial planner and the founder of Atwood Financial Planning and Fearless Finance. Continua a leggere