Loan for Freelancer

Doda555

I am currently working as a freelancer, but in need of a small loan (not more than 3000 pounds). Is this even possible and which bank (p2p lender) would you advise me to try? I have only recently moved to the UK, and all that loan stuff seems rather complicated.

heartbreak_star

Why do you need the loan? Do you have proof of your earnings? What are your earnings?

HBS x

Doda555

No, unfortunately I don't have proof for my income. I need the loan for a car.

iolanthe07

Most lenders look for at least three years residence in the UK before they will consider a loan, but you could have a word with your bank and see if they can help.

poppasmurf_bewdley

Please note: A loan of £3000 is NOT a small loan. It is a large loan, especially for someone who hasn't got that amount of money.

DCFC79

Look at cheaper forms of transport, has a friend got a car you can borrow ?Obviously get it done legally with the insurance.

Doda555

Thank you all for the advice! I will look more into my options.

Brassedoff

To be honest you're between a rock & a hard place. What type of Freelancing do you do and what's you market job reverts like?

If you have opened your bank account already and have been paying money in, then they appear to be the obvious choice. I have a few people ask me a month about working FL or Umberlla, they ask about loans and stuff just to get their venture off the ground. I ask the same. How many jobs/commissions do you think (as in pipeline quoted, waiting for a response) do you have. If the answer is none, how will you pay your loan? That's why I say you are between a rock and hard place.

Could you not get a job in the meantime? It shows earnings, you might be able to fit jobs in.

Finally, do you know where you will advertise? Élance, PPH, Ph, Bid-lancer are all unpredictable and take an (IMHO) unreasonable chunk of money.