Can I Get A Payday Loan If I Am Self Employed In Canada?
As a self-employed worker, I know that it is very difficult to a get. Whether it is a mortgage, credit card, installment loans or payday loans, it is very difficult to get approval because you can’t show your income proof. This situation is really very bad and frustrating.
Due to lack of a regular source of income, it is impossible to obtain cash from loans for your emergency situations. So, as a self-employed, what exactly you want? An easy way to access funds without wasting time and efforts right? Here is the solution!
Getting A Mortgage
Let’s discuss with the big one: Mortgage. Getting a mortgage may be difficult but not impossible. Banks are a little bit cautious when issuing money through a mortgage. They need borrower’s steady income details, income taxes information of past years and much more. If you are newly self-employed then definitely it is not an easy game for you and it may be difficult to get mortgage approval from banks.
Borrow Against Your Car
If you own a car, you can apply for a car title loans. Title loans are a secured form of loans in which your vehicle is submitted as a collateral or security against your loan. Since the loan is secured by your vehicle, you are usually eligible to get a much larger loan at the lower interest rate. Car title loans offer a much longer time of repayment like installment loans.
Note: If you choose car title loans, don’t worry, you’ll be still having full use of your car as long as your loan payments are made on time.
Getting Quick Cash Loans
What happens when you need immediate little cash help? But banks will not help you this time because banks are dealing with long term loans. One and best option is to finding a direct lender online and applying for cash advance loans. The requirements for these quick loans are easy to opt like a valid bank account and regular income. If you receive any kind of benefits such as Child Tax Credit then quick loans are best cash options to satisfy money requirements without having a steady and regular job or paycheck.
Although getting finance is difficult when you are self-employed, but not impossible. And most cases self-employed people choose payday loans for self-employed Canada to get funds and tackle all their monthly needs.