Any body can need loans these days whether a serviceman a businessman or a self employed person. A self employed is one who works for himself. Now days more and more people are working for themselves which means they are self employed.
A self employed person may have one of the following working areas
A sole proprietor
Independent contractor or
A consultant
Self employed loans are tailor made to the financial requirements of people. Self employed loans may be required by the self employed persons for many reasons which could be one of the following for business purposes, debt consolidation, home improvement, or for personal purposes
Self employed people all have different characteristics which is why these loans are a little different from other loans. A prime reason for that is that self employed people most of the times do not have any stable incomes which are why they are offered certain perks where they can choose on how to repay. They are;
1. Over payment this feature allows the borrower the benefit of paying more than what is originally due as per his monthly installment as the borrower may have earned more in that...
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