Self-employed loans Melbourne
Speciality finance
Self-employed finance broker in Melbourne's west
A self-employed loan is a home, personal or business loan assessed on income from your own business rather than payslips. Lenders usually look at tax returns, BAS and business bank statements, and many prefer at least 12 months of trading history. It can suit tradies, sole traders, contractors and business owners. We compare options across our 70+ lender panel for borrowers in Melbourne's west. Can't provide full financials? See our low doc home loans.
Are you running your own business or working as a freelancer? Getting a loan can be difficult. At Attain, we've got your back. We understand the unique challenges faced by self-employed Australians and offer loan solutions tailored just for you.
Book a consultationHow to get a self-employed loan
At Attain Loans, we specialise in finding the right loan solution for your unique situation. Our service typically comes at no charge to you as we're paid by the lender. We'll disclose this commission before you proceed.
1
Getting to know you
We're flexible to fit with your busy schedule. We offer face-to-face, phone, or video call meetings, including after-hours and weekends.
2
Understanding your business
We'll discuss your business, income structure, and loan needs in detail. This helps us determine the most suitable type of finance for you.
3
Financial assessment
We'll review your financial position, including business performance and cash flow. This helps us determine your borrowing capacity and structure a loan that's sustainable for your business.
4
Loan comparison
Based on your circumstances, we'll compare loans from our panel of lenders. We look at interest rates, fees, flexibility, and loan features to find the best fit for you.
5
Application and approval
Once you've chosen a loan, we handle all the paperwork. We'll help gather the necessary documents and guide you through the approval process.
6
Ongoing support
After approval, we coordinate settlement and help set up your loan repayments. We're here to support you throughout your loan term and beyond.
What is a self-employed loan?
A self-employed loan is designed for those who work for themselves - whether you're a tradie, freelancer, small business owner, or contractor. These loans recognise that your income might not look like a typical 9-to-5 employee's, but that doesn't mean you're any less creditworthy.
Self-employed loan options and features
- Variable or fixed interest rates
- Secured or unsecured options
- Flexible loan terms
- Redraw facilities
- Extra repayment options
- Line of credit facilities
Uses for self-employed finance
- Expanding your business
- Purchasing equipment
- Managing cash flow
- Consolidating debt
- Personal expenses like home renovations or holidays
Questions about self-employed home loans and finance
Get in touch, and we'll help you with any questions about self-employed loans and advise on the best strategy to suit your situation.
Let us help with your questionsCan I get a self-employed loan if I've only recently started my business?
While most lenders prefer to see at least 12 months of trading history, some may consider applications from businesses operating for as little as 6 months. New business owners can strengthen their applications by providing a comprehensive business plan and evidence of upcoming contracts or consistent income. Attain works with lenders who specialise in loans for new businesses, expanding the options available to recent startups.
What's the difference between a personal loan and a business loan for self-employed individuals?
Personal loans can be used for both business and personal expenses, offering greater flexibility. Business loans, however, are restricted to business purposes only. They typically feature higher borrowing limits and may offer potential tax benefits, but may have more stringent eligibility criteria. Speak with your accountant or tax adviser about your circumstances. The optimal choice depends on the specific needs and circumstances of the borrower. Attain can assist in evaluating the advantages and disadvantages of each option.
Do I need to provide collateral for a self-employed loan?
Self-employed loans are available in both secured and unsecured formats. Secured loans require an asset (such as property or equipment) as collateral and often offer lower interest rates due to reduced lender risk. Unsecured loans don't require collateral but may have higher interest rates. The choice between secured and unsecured loans depends on the borrower's individual circumstances and risk tolerance.
How does GST registration affect my loan application?
GST registration can positively impact a self-employed loan application as it demonstrates an established business with significant income. Most lenders prefer to see at least 12 months of GST registration, although some may accept less. For businesses not registered for GST, alternative options may be available, particularly if other means of income verification can be provided.
Can I refinance my existing debts with a self-employed loan?
Self-employed loans can be used for debt consolidation. This process involves combining multiple debts into a single loan, potentially resulting in a lower overall interest rate and simplified repayment structure. It can be an effective strategy for managing both personal and business debts. However, it's important to consider that extending the loan term may result in higher total interest payments over time. Attain can provide detailed calculations to determine if refinancing is financially beneficial in each individual case.
Are interest rates higher for self-employed loans?
Interest rates can vary. While some lenders may charge higher rates due to perceived risk, others offer competitive rates comparable to standard loans. We'll help you compare options across our lender panel to find a competitive rate that suits your situation.
Can I get a self-employed loan with a less-than-perfect credit history?
While a good credit score helps, we work with lenders who consider your overall financial situation, not just your credit score. We'll help you find options that suit your circumstances, though these may come with higher interest rates and fees.
How much can I borrow with a self-employed loan?
Borrowing capacity depends on factors like your income, business performance, and the lender's policies. We've helped self-employed borrowers secure loans from $5,000 to $500,000 or more. Every application is subject to lender assessment.
Can I use my self-employed loan for both business and personal expenses?
Many self-employed loans offer flexibility in how you use the funds. However, it's important to clarify this with your lender and consider any tax implications. Speak with your accountant or tax adviser about your circumstances.
Can I get a home loan if I'm self-employed?
Yes. Many lenders offer home loans to self-employed borrowers, usually asking for two years of personal and business tax returns, notices of assessment and BAS. Some lenders may consider a shorter trading history or alternative documents through a low doc loan, which often means a higher interest rate or a larger deposit. When we arrange a home loan, we must act in your best interests under the Best Interests Duty.
What documents do self-employed borrowers need?
Requirements vary by lender and loan type, but commonly include:
- Personal and business tax returns
- Notices of assessment
- Business activity statements (BAS)
- Business bank statements
- Profit and loss statements
- A letter from your accountant
Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product. The information contained in this website is of a general nature and does not take in to account your personal needs and requirements.
Self-employed finance guides
Why choose Attain for your self-employed loan?
At Attain, we're experts in self-employed lending. We have access to a wide range of lenders and can help you navigate the complexities of self-employed loans. We look beyond the interest rate to help you find a loan structure that suits your business and personal goals.
We're family
We are a small family owned, Altona based business that understands your needs at different stages of your life.
We listen
Identifying your goals and finding services and products that meet your needs is our number one job, and we love it!
22 years industry experience
We know the intricacies of the mortgage market and can tailor mortgage solutions for your individual needs.
We have access to the very best lenders
Over 70 of them, including the majors. We're accredited, which means we are fully trained and know all the best options available for you.
Ongoing support
Even when we've found you a great deal we undertake regular reviews to see if we can find you something even better.
We're awesome!
We have an honest, client focused business model and we aim to create long lasting relationships built on trust and respect.
Our happy customers
Financial security gives you choices. It lets you move home, learn new things, travel, or start and grow a business. When you're financially secure, you can focus on what's important. Your family, health, and personal growth.
Owen
Chrystal has been absolutely amazing from start to finish. As a first time home buyer I had little understanding of the whole process and was quite overwhelmed. Chrystal took the time to thoroughly explain all aspects to me and was always available whenever I had any questions and made the whole process much less stressful. I highly recommend her to anyone looking for a mortgage broker.
Danny Simpson
Chrystal was incredible throughout the entire process. She helped me review numerous listings, connected me with a great conveyancer and building inspector, supported me on auction day, and found the best home loan to suit my needs while guiding me through the details. Overall, I highly recommend Attain Loans for going above and beyond!
Macca Playz
Chrystal's outstanding performance throughout the process was truly impressive. Her assistance in reviewing various listings, arranging introductions to a trusted conveyancer and building inspector, providing support, and sourcing a home loan that met my specific needs while offering detailed explanations of the terms, was truly exceptional. I strongly recommend Attain Loans for their outstanding commitment to customer satisfaction and service excellence.
Emma Kirkham
I went to Attain Loans to reduce my mortgage repayments and secure financing for a truck-mounted EWP. Chrystal went above and beyond to ensure I got the best deal possible. She took the stress out of the process and made everything happen smoothly. Thanks to Chrystal, I was able to combine my home and truck loans and even purchase a brand-new car—all while paying much less than I ever imagined. I highly recommend Attain Loans. It’s Chrystal’s personal touch and dedication that make her exceptional at what she does!
Ian Martin
We were introduced to Chrystal and Attain Loans by a mutual colleague and we are very pleased that we were. Chrystal is an absolute finance whizz and a diamond of a lady. She is thorough, professional, patient, 'on your side', and will work her hardest to get the job done for you. We are pleased to have met Chrystal and have her setup our home loan and finances for us, and we will continue to work with Chrystal for any of our finance needs in the future.
Nichie S
Chrystal Evans, Director & Mortgage Broker at Attain was truly a lifesaver. In a stressful time where I needed assistance and some advice, Chrystal was this and more for me. Her knowledge of the banks, packages, fees etc. and advice was excellent, giving me confidence while also making everything really easy. Lastly her follow-up and communications were solid, I would highly recommend Chrystal. Also, after trying to negotiate an interest rate after coming off a fixed rate with my bank, where I was told they couldn't help me and spoke with 3 different people with wait times on the phone, I will not deal with a big bank again and only with Chrystal/Attain.
Cindy Kelly
Chrystal and Attain Loans were instrumental in assisting us to secure our dream home. Chrystal’s professionalism, knowledge and high level skills secured us the best loan for our needs. Chrystal is very thorough and assisted us through the whole process, from finding the best loan to ensuring everything was in line and ready for settlement day. We will definitely utilise Chrystal’s expertise for our next property purchase and highly recommend Chrystal and Attain Loans.
will miller
Chrystal and her team are amazing to deal with extremely helpful and couldn't ask for better service. Chrystal and her team have helped us secure our first home and we have now settled. Chrystal is still working with us through every stage of the project. It's great to know that I had Chrystal on hand anytime I needed direction and advice. Thanks heaps guys from will and Zoe miller
Nikola M.
Chrystal is by far the best broker I’ve met. Not only she found a great rate and conditions, she advised me on how to restructure the loans to get a better return down the road. Definitely recommend her, won’t even think of going elsewhere.
Renee Blake
Chrystal and her team @ Attain Loans are amazing. Chrystal makes the whole process so easy and understandable. She always has her clients needs at the forefront of her mind and does everything possible to help. Not only is she an AMAZING broker with integrity, she is reliable with a client first focus. If I could score her 100 I would. The only broker for me.
Callan Applebee
The best! Highly recommend for those lookong for people that care and honesty in financial requests for mortgae and loan services. From someone who has just begun owning land and building a home, all I can say is that Chrystal and her amazing team have held customers like myself and my wife at the forefront. We are still in the process and this company and its ideals and staff are and continue to be amazing. The trust, confidence and support model they uphold is something that all other institutions should refer to. Thank you Chrystal and your team members for everything thus far. I look forward to our continued relationship and your growth. Thank you.
Vanessa Terekia
I have had the pleasure of working with Chrystal who helped to get my home loan approval. This women went out of her way to help me above and beyond my expectations, I was so ready to give up on a few occasions but she wasn't going to let me and I could not thank her enough for all of her efforts. I am now in my own home thanks to Chrystal and her team, I would always recommend her service, its like no other :).
Skruffy Inc
If it's a no fuss, simple process you're after - then Chrystal is your go to! As a first home buyer I was totally out of my league, everything was foreign. Chrystal quickly established a rapport and from the beginning I felt secure in her expertise and genuine interest to help me realise my goals. Whenever there were things that I wasn't quite sure about, Chrystal jumped in and took the reins without hesitation. When investing in one of the biggest purchases in your lifetime, having someone you trust at the helm is everything! Chrystal is that someone. Her easy going nature coupled with the depth of knowledge, experience and professionalism is second to none! I can't recommend her highly enough. Appreciate your support solution oriented outlook Chrystal. Thank you so much! Whakamānawatia koe, ka tika! Nāku noa Trish Brisbane, QLD
Suzanne McHugh
Chrystal was fantastic, she took the time to help us urgently obtain finance after not getting any help directly from the banks. She was very informative, was able to explain all the details. We would not have been able to have a successful bid without her help.
Luke Applebee
Thanks to the incredibly hard-working team at Attain (Chrystal and Pam) we were able to settle literally days before Christmas last year in our first home. At every step of the home buying journey we were well informed and felt like our interests were always the top priority. It was a stressful time for us to keep up with the paperwork and everything however Attain did a superb job at keeping us on track (and sane). If you have no idea where to begin if you're looking at purchasing a home, I highly recommend giving Attain a call. Excellent customer service and ongoing support. We have recommended Attain to family and friends, too. Absolutely impressive team. Can't thank them enough.
Jessica Joy
I cannot recommend Attain Loan & Mortgage Services enough. As a first home buyer I was nervous with very limited knowledge of how the entire loan process worked. Chrystal made it absolutely seamless and took all of the stress out for me. 12 months on, they assisted me with my first re-finance and again were there for me every step of the way. I couldn't be happier and wouldn't trust anyone else! Thankyou so much! Positive Responsiveness, Quality, Professionalism, Value
Jessica Winter
Chrystal, Pam and the team at Attain loan & morgage services are the best brokers in business. They literally held our hands throughout the whole process of our home loan. And we were not easy customers! They went above and beyond to help us get the best outcome in the process of attaining our first family home. Their attitude, customer service and professionalism was second to none. Couldn't recommend this company more! They literally did all the HARD work for us and made the process stress free :) Thanks Team!! Jessica Winter
Americar Auto
I've been using Attain Loans for years. Each time Chrystal has helped us get the loan through, being a small business can be tricky sometimes but Chrystal never gives up and always gets a result. I would give her a higher score if I could :)
Gary Capeling
My wife and I were in a vendor finance agreement and due to some financial hardship issues brought about by the Covid pandemic not looking like we would ever be able to get ahead. The team at Attain Loans helped steer us in the right direction to be able to finally have a mortgage of our own and also clear up our debts and hopefully repair our credit issues. I would definitely recommend them to anyone looking to just refinance or that is in a similar boat to us! 10 out of 10 for these guys!
Rebecca Smith
Excellent communication throughout entire process. Second time we have obtained finance through Chrystal and would use her again.
Peter Sz
Chrystal and the team from Attain Loan & Mortgage Services, 14 Harrington Square, Altona, VIC, 3018, Were a pleasure to deal with, they provided us with great service and prompt settlement, our circumstances were delicate and they worked though the steps to help us achieve the results desired, We would highly recommend Attain Loan & Mortgage Services for all your home loan needs, Thanks for all your help Peter
Lisa L
I recently bought a new house and usually the process can be quite stressful. Luke made everything run smooth from start to finish and got me a good rate! Highly recommend
Ray Jensen
Got the job done that no one else could!!!!! Very happy customer, thanks for all your all help……