 TITLE: Does Being Self-Employed Affect Your Credit? CONTENT: How to Get a Loan When Self-Employed\n------------------------------------\nIf you're self-employed and having trouble getting a loan, you have a few options that may help.\nCheck your credit report and scores so you know where you stand and can assess what types of loans you may qualify for. You can research loans and credit card offers online to find the ones suited to your credit score. Don't try for loans or credit card offers that require a credit score above yours.\nAre you looking for a loan? Try approaching a credit union instead of a bank or asking someone with good credit to cosign the loan. You might also boost your odds of success by offering to secure the loan with collateral. If you're applying for a car loan or mortgage, save up to make a bigger down payment. A bigger down payment will reduce the cost you have to borrow and may make it easier to get approved.\nAre you trying to get a credit card? See if someone you trust who has good credit will add you as an authorized user on their credit card. If you're struggling to get a loan for your business, consider other financing options such as getting a business credit card, invoice financing or microloans.\nIf you're self-employed and planning to apply for credit in the near future, it may be a good idea to try to improve your credit score first. You can help to increase your credit score by paying your bills on time, paying down your debt so that your credit utilization ratio is under 30%, keeping existing credit accounts open even if you aren't using them, and limiting your applications for new credit. You can also use Experian Boost™† , a free service that adds your on-time utility and cellphone bill payments to your Experian credit report, potentially increasing your credit scores. END