📋 Why It’s Harder for the Self-Employed
Unlike salaried workers, self-employed people don’t have a steady paycheck or employer to verify income. That makes lenders cautious — unless you provide rock-solid proof of earnings, expenses, and taxes.
✅ What You’ll Need to Apply
- 6–12 months of bank statements showing regular income
- Personal & business tax returns filed with SARS
- Proof of business registration (if applicable)
- Invoices or contracts from regular clients
- Good credit score — not optional!
🔎 Which Lenders Are Best?
Some lenders offer more flexibility than others. See our updated list of top personal loan providers for 2025.
💡 Tip: Fix Your Profile First
If you’ve been rejected before, don’t panic. Try these 6 smart fixes to improve your chances — from paying off debt to updating outdated documents.
📉 Common Mistakes to Avoid
- Applying for too much — estimate a realistic amount using our borrowing limit guide
- Overlooking hidden charges — check out the 7 loan costs most people miss
- Falling for emergency offers — here’s why emergency loans may cost more in the long run
🧠 Final Thoughts
You can absolutely get a personal loan as a self-employed South African — but preparation is key. Gather your documents, clean up your credit, and apply to lenders that understand your income structure.
