Self Employed Solutions
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Looking for finance through a self-employed application?
Getting finance for self-employed applications can sometimes be tricky.
Not all lenders have the same appetite for self-employed customers and structure their policy accordingly.
In many cases, this means you will face obstacles you didn’t even know existed.
At Empowered Finance, we believe in giving the self-employed a fair go.
If you’re having trouble because of your type of employment or because your income doesn’t tick the right boxes, talk to us and we’ll be there to help.
At Empowered Finance we’ll help you to:
Most lenders ask for proof of employment or in your case, proof of income. Be it tax returns from previous years of operation or business records showing you’ve been paying suppliers.
Get a private lender
If you’ve tried traditional lenders like banks and have failed to secure funding, then it could be the right time to try our panel of lenders. While a bank will reject your application with a computer, we will listen to your situation, prove your income and discuss how to keep your income source as steady as possible.
Get a one-on-one experience
Easy to follow applications and approval, as well as courteous and professional staff. These are the hallmarks of our financial service and have helped our many returning clients over the years.
Get a self-employed loan with with minimal paperwork
Many lenders currently ask for at least three years worth of accounts to prove income before qualifying you for a home loan. We’ll ensure your goals are always heard no matter what your financial background is.
We come to you to make
the process simple.
We don’t charge a fee as
we’re paid by lenders.
We’re available for the
life of your loan.
Benefits of using Empowered Finance for a load as a self employed
Our in-depth industry knowledge allows us to offer the best advice on self-employed home loans Australia-wide.
We don’t stop our service at loan settlement. We offer you any assistance you need during the life of your self-employed personal loan.
Education and support
Apart from arranging finance for our clients, we help them make educated financial decisions. We will always be there to inform you about self-employed home loan requirements.
Connect you to lenders
We use our extensive industry connections to negotiate the best deals to finance self-employed persons in Australia. If it’s important to you, we make it important to us.
Our simple step by step process
Step 1 - We’ll advise you
We’ll start by understanding your personal and business circumstances to find out your exact needs as a self-employed person or contract worker. Afterwards, we will offer you professional advice that fits your specific needs.
Step 2 - We’ll find a lender for you
We use our extensive network of lenders to provide you with useful funding. We will connect you to a lender who can refinance business debts, one who doesn’t decline requests based on credit score alone and uses last year’s income only.
Step 3 - We offer quick and easy applications
We will help you in the application process which is relatively quick and easy. This means you will not have to navigate lender forms on your own.
Looking for the best finance Broker in Subiaco?
At Empowered Finance, we help self-employed customers and contract workers find the right finance to suit their professional goals.
- Our service is free to you.
- We get paid by the lenders. You won’t pay us a thing.
- Free advice.
- You can reach us for professional help during the life of your loan.
- Access and choose from multiple lenders.
- Access to cutting edge loan comparison software.
- 1-on-1 service.
Common issues self-employed applicants face
#1 – Borrowers with impaired credit history
Most start-ups face cash flow problems. This can force business owners to seek multiple sources of credit to close the cash flow gaps. Unfortunately, this may negatively affect the business owner’s credit score.
We can help facilitate a loan for self-employed individuals with bad credit.
#2 – Borrowers with existing business or tax debt
Many lenders will deny you funding if you have any outstanding ATO debts. We offer complimentary advice and free financial consultations if you require assistance.
#3 – Borrowers who are newly self-employed
Self-employed individuals are often declined by lenders who require an active ABN for two or more years. We understand the first year of business is not always profitable which is why we use the current year’s accounts for an income check.
#4 – Borrowers who have not completed their tax returns
Some circumstances can result in fluctuations of taxable business income. Some lenders will tolerate up to 20% variance, others will average your last two years, while others will use the latest year’s returns.
We offer the following FREE appointments
- 15 Call Back
- 30 Minute Phone Consultation
- 60 Minute Appointment
- 90 Minute Appointment
Frequently Asked Questions
At Empowered Finance we can help you find both secured and unsecured loans. Self-employed individuals may benefit from our flexible credit criteria for small business needs.
Borrowers who have been in business for at least twelve months are considered.
We accept different types of self-employed income, including:
- Dividends and trust distributions
- Superannuation contribution in excess of 9%
- Net profit before tax
- Add-backs, e.g. depreciation
The interest rate you qualify for is determined by a number of factors, such as the size of your deposit, the loan amount requested compared to the property value (loan to value ratio), and the purpose of the loan. At Empowered Finance, we give you access to different loan products and a range of interest rates, depending on your circumstances.
A secured loan possesses some form of collateral as security for the money lent. It offers the lender some form of security should you be unable to repay the loan. As a result, lenders are more likely to provide better rates for secured loans.
Unsecured loans have no security and are secured by the creditworthiness of the borrower. They typically have lower total borrowing and higher interest rates. However, they have no risk to personal property.
Did you know…
You can use the equity in your residential property to access finance for business purposes?
A range of lenders will allow you to refinance your home loan and get cash out for business and/or investment purposes.
This can be an excellent option instead of a traditional Business Loan as the rates and fees of a residential home loan are generally a lot cheaper!
Dreaming of something bigger?
We provide rapid and reliable access to the finance you need to move forward with your business and life goals.
Step 1 - Choose a location
- Subiaco Office: 1/100 Hay Street, Subiaco, WA 608
- Your House - Please provide address in details box
- Your Office - Please provide address in details box
- Phone - Please provide phone number
Step Two - Choose an appointment type
- Free 15 minute callback
- Free 30 minute phone consultation
- Free 60 minute appointment
- Free 90 minute appointment
Step 3 - Choose preferred date and time
Step 4 - Enter your details
Step 5 - Confirm
You will receive an appointment confirmation email within 2 hours.