Apply for your payday loan
How much cash?

How long for?
Your Loan Summary
Repayable by:
Loan decision by:8:11PM
Apply Now
Maximum charges: 20% Establishment fee and 4% monthly fee (Comparison rate 199.43%) based on $1000 repaid over 6 months. Illustrative example: Loan amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly instalments of $57.60. Maximum charges: 20% Establishment Fee & 4% Monthly Fee. In comparison rate terms, the maximum comparison rate may be as high as 199.43%.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. The information on this web page is general information. The information does not take into account your objectives, financial situation or needs. Credit criteria, fees, charges, terms and conditions apply. Products and rates displayed are subject to the individual borrower's credit assessment. Examples only provide an estimate and are used for illustrative purposes only, not an offer for credit. The amount you can borrow, the interest rate and fees you receive along the product you qualify for may vary.
Viva Payday Loans > Payday Loans > Self Employed Loans

Self Employed Loans

Finding self employed loans can be tougher than personal loans tailored for employed/salaried individuals, largely due to the higher risk. But, there are still many self employed loans options available in the market that you may consider.  

Types of Self Employed Loans

There are a few types of self-employed loans available in the market. 

  • Specialist Loans
  • Standard Loans
  • P2P Loans
  • Low-Doc Loans

How Do Self Employed Loans Work

Each lender has its own lending criteria that you must fulfill to quality for a self employed loan. Usually, lenders require applicants to submit tax statements for the preceding two years to assess total income. Some lenders might also require collateral to approve a loan, and these secured loans often come with a lower interest expense compared to unsecured options. 

Examples of Self Employed Loans

A few examples of lenders offering self-employed loans are as follows:

  • NAB – You can apply for a self-employed loan with NAB at a rate of 9.99% per annum between amounts of $5,000-$55,000. 
  • Westpac – The lender offers loan amounts between $4,000-$50,000 at a rate of 11.99% per annum to self employed individuals.
  • St. George – At an annual rate of 12.99%, St. George is offering loan amounts of $2,000-$50,000 to self-employed borrowers.

Advantages and Disadvantages


  1. Better suited to your financial circumstances compared to loans tailored for salaried individuals 
  2. Allows higher loan amounts compared to non-self employed loans
  3. Long loan terms available
  4. Possibly a lower interest rate is applied if you earn a high and steady income. 


  1. Might be tough to meet eligibility criteria

Application Process

To apply for a self-employed loan, you need to arrange some required documentation including:

  • Tax returns
  • Information about your business, including financial statements
  • Latest bank statements, at least for the last 90 days
  • Notice of Assessment
  • Rental income proof, in case your business operates any rental properties

Once you have chosen your desired lender, first ensure you meet their eligibility criteria. Then, fill out the online application form or visit the branch to apply in-person. The lender will process your application and review your eligibility. Once approved, the loan amount would be transferred to you within a few days.


  1. What is the maximum amount I can borrow through a self-employed loan?
    Although every lender offers different loan amounts, you can usually get a loan amount between $2,000-$55,000.
  2. Should I get a secured or unsecured self-employed loan?
    A secured loan might have a lower interest charge than an unsecured loan, although an unsecured loan might be easier to acquire. 
  3. Can I apply for a self-employed loan as an independent contractor?
    Yes, independent contractors are usually considered self-employed.