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Personal Loan for Self-Employed

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Find out how much your repayments and
interest rate could be with our calculator


Monthly repayment from


Example interest rate

9.20 %

Comparison rate*

10.58 %

Total charges


Total repayments


Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The interest rate for this product is variable and subject to change. Any calculations made by you using this calculator is intended as a guide only.

Personal Loan for Self-Employed

Looking for a personal loan for the self-employed? From small business owners and tradies to contractors and freelancers, there are plenty of self-employed individuals in Australia. Running your own business has plenty of benefits, but it can make it harder to get a personal loan especially as your monthly income is not always predictable. It can also be difficult to get all the documentation that you may require to take out a loan such as payslips. Some lenders perceive self-employed borrowers to be more high-risk prospects compared to somebody who is employed full time, so in these instances, you may also need to have an excellent credit rating to secure the loan.

Each personal loan for the self-employed will have different requirements around what documentation is required and what criteria need to be met, as well as different interest rates, fees and charges, and loan terms so it’s worth shopping around to find the best loan for you. For example, you may prefer to get a variable term personal loan so that you can budget your repayments more easily, or you may prefer a variable rate personal loan where the repayment amounts will be more uncertain but you have the potential to make savings if the interest rate falls. Or you may need short term loans while you are waiting for some bills to be paid or long term personal loans to buy something substantial. There are many different types of personal loans available for the self -employed.

What documentation is needed for a personal loan for the self-employed?

The documentation that is required will differ depending on what bank or lender you get your loan through. These days many financial institutions and online lenders offer low doc personal loans that allow the self-employed and other borrowers to get approval for a loan without needing to provide extensive documentation such as payslips and tax returns which are not always readily available.

For example, to apply for MoneyMe personal loans, rather than needing to provide bank statements, payslips, and other documentation, MoneyMe uses technology which makes the process quicker and simpler for all parties involved. Using this technology MoneyMe can, with your permission and online bank details, view your bank statements for the past 90 days online almost instantaneously. So instead of spending hours gathering all your paperwork, we can access the information we need directly. And you can rest assured that it is all done securely using the same security-level encryption that your bank uses. We get read-only access to your banking through a secure and trusted portal and at no stage will we be able to access your banking password or PIN.

How much can I borrow in a personal loan for self-employed?

How much you can borrow will depend on the particular lender’s minimum and maximum lending amounts as well as your current financial situation and credit history. With MoneyMe’s personal loans online, you can apply for a $5,000 personal loan, a $20,000 personal loan, or a $30,000 personal loan. In fact, you can apply to borrow anywhere between $5,000 and $50,000 depending on your specific circumstances. Before you submit your loan application, it’s good to work out how much money you need to borrow and what repayment amounts you can comfortably afford. To help you do this, MoneyMe has a free online personal loan repayment calculator. By accessing this user-friendly tool you can check whether the personal loan you want to apply for suits your financial situation. This tool is also useful to get a better understanding of interest rates which can be helpful when making a personal loan comparison in Australia.

How to get a personal loan for self-employed?

Once you’ve got an estimate of your repayments and are satisfied that you’ll be able to service the loan, now you are ready to submit your loan application. To apply for instant loans through MoneyMe, simply click on the ‘apply now’ button on the website. You’ll then need to enter the amount of money you want to borrow, the duration of the loan, and some other personal information such as your bank account details and a valid email address. When deciding your personal loan rates we also look at your credit score, income, financial commitments, and your living expenses. And the good news is, you usually only have to wait a few minutes for a decision. Once your loan has been approved, depending on your bank and whether you apply during business hours, the funds could be in your bank account within an hour.

Can I get a personal loan for self-employed with less-than-excellent credit?

Getting a personal loan with a credit history that's not ideal can be more difficult, but it is not always impossible. Whether you can get a personal loan for self-employed with a less-than-perfect credit score will depend on factors such as which lender you borrow through, your current financial situation, and how much money you want to borrow. MoneyMe does carry out a credit check as part of the loan assessment, but we don’t necessarily automatically decline someone with a mark on their credit file. However, there are times when your application will be declined such as if you have a credit history that's not so great, are bankrupt, or are in a debt agreement. MoneyMe is a responsible lender, so we won’t lend you more money than we think you can afford to repay. We want to help your situation, not make it worse.

If you need quick loans, MoneyMe would love to help you. With our same day loans, once your loan is approved you won’t have to wait long for the funds to be in your account.  If you have any questions, our support team is available via email, phone, or online 7 days a week. Contact us and find out how we can help you get a personal loan for self-employed.

Our customers

Personal Loan for Self-Employed

Fast, fair and easy. Very happy customer. Happy to get another loan in the future from MONEYME.

Simple process, easy to follow application, quick response time and good support.

I was impressed with how easy and quick the application was. Very happy with their customer service, and the app is very convenient.


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

9.20 %
to 25.20 %

Comparison rate*

10.58 %
to 26.58 %

Establishment fee
(Direct applications)

$395 for loans between $5,000 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 3 years

Maximum 5 years

Early exit fees


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