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Personal loan for self employed paying dividends

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danno21
danno21 Posts: 14 Forumite
Ninth Anniversary 10 Posts Combo Breaker
Hi

Is there anywhere that will provide a loan for self employed people that pay themselves dividends. Most lenders wont lend.

Comments

  • Grumpy_chap
    Grumpy_chap Posts: 18,306 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Do you have at least two years accounts?
  • danno21
    danno21 Posts: 14 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Thanks. Yes i do
  • Grumpy_chap
    Grumpy_chap Posts: 18,306 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    A Broker should be able to obtain finance.

    What is the finance required for?  
    If the finance is linked to something will affect the options.
  • danno21
    danno21 Posts: 14 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    A Broker should be able to obtain finance.

    What is the finance required for?  
    If the finance is linked to something will affect the options.
    Its to purchase a car 
  • Grumpy_chap
    Grumpy_chap Posts: 18,306 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    The first thing will be to understand whether you have a good credit history and affordability for the car.

    You need to decide whether the car will be personal vehicle or company vehicle.  That is more of a tax question and won't make much difference to securing finance as any lender will require a personal guarantee if you opt for the car as a company vehicle.  I'd expect you are only likely to do that if you select an EV.

    If you do have a good credit history and affordability, then Dealer finance (PCP / HP) is likely to be available.  Have you investigated this option?
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