Applying for self employed loans can be very time consuming and give a lot of people a headache, because the borrower never seems to understand what a lender wants, and what they are actually thinking. And the lenders will never get what they need and what they want from the borrowers. So both parties are not really happy about each other, so let us put our position aside and think in to the other person’s position.
Being borrowers of self employed loans, you must be self employed, which make sense in why you would like to apply for self employed loans. But think about it, being self employed often means you are going to be working a lot of hours, maybe even for the whole day, because being self employed means you are working for yourself as employees, but on the other hand, you are also your own boss, so what the boss get is what the employees gets, it is as simple as that. So the employees who are the self employed people would be working for hard for their boss, which is also themselves, because to them, everything they do seems to be earning money. So if they want to apply for self employed loans, they would not want to waste more time than they really need to. All they want is just give them the money they need, so they can hurry up and get on with the things they are working on, so it will be pretty frustrating if the borrowers have to prepare so many things to get their self employed loans approved. Also the lenders would not make things easier for the borrower by doubting their ability to repay the self employed loans.
Now we have got a look the perspective of what the borrowers think when applying for self employed loans, now let’s take a look at the lenders side of view. But for lenders, their thinking is quite simple and straight forward. All the lenders want is just to get the money back when it is time for the repayment, so they would want to make sure that the borrower who come and apply for self employed loans have the ability to repay the money back, so they would need to make sure that the borrower is not lying or anything, which is the reason why borrower thinks that the lenders are being very annoying, but if they think in their perspective, it is very reasonable.