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Can I Apply for a Cash Loan if I'm Self-employed? Rates, Quotes and Application.

     There are many advantages of being self-employed as, for example, choosing your own working times and holidays. But, being your own boss may also have some drawbacks. If, for example, you need to ask for a loan it may be difficult to find entities willing to work with you as you lack the job security they want their clients to have. But, don’t worry because I’ll tell you in this article all about SA Cash Loans, which offers loans for self-employed workers. Here, I’ll expand on its rates, quotes and requirements for you to be fully informed before applying for a cash loan with them. You’ll see you can get the economic help you need even though you are self-employed. So, relax and get ready to start planning you next holidays or to purchase that new computer you need so bad.

SA Cash Loans Requirements

    Let’s begin by stating what preliminary conditions you need to comply with before applying with SA Cash Loans. As the approval of your loan is in hand of credit providers SA Cash Loans work with, you should know there are some financial situations that may result on the refusal of your loan. Although these aren’t requirements fixed by SA Cash Loans, I’ll go over them for you to know how can you avoid being rejected and have more chances to get an approval.

    You may find problems if you:

- find yourself under debt review, debt administration or debt counseling at the moment of applying.

- hold notable defaults or Judgments against them.

- have unpaid debts with any of their accounts.

    Remember these are points you should pay attention to if you want to have more chances. But now, we’ll examine on those compulsory requirements you need to comply with:

- As I pronounced earlier, SA Cash Loans allows you to apply for a loan whether you are employed or self-employed, but you won’t qualify for a cash loan if you are currently out of work or you are a pensioner.

- At the moment of applying you should have been working for at least three months for the same employer and, you should own a monthly salary of R 3,000 or more. Finally, you should receive that monthly payment through your own bank account.

- Also, bear in mind credit providers demand your credit profile satisfies the basic requirements established for the National Credit Act.

- If we refer to the age you should be older than 18 and less than 65.

- If you are a foreign applicant you can apply for a cash loan but only if you own a valid SA I.D.

- You need to be ready to go under credit and affordability checks.

It’s important you remember that although you fulfill all these requirements the final decision is on credit providers’ hands.

How to apply?          

    Application is simple and easy. You can send them an email or get thought them over the telephone to go over the completion of the application form first. Remember this step should be within their office hours which I’ll detail at the end together with SA Cash Loans email and phone number.

    Then, they will ask you to submit some documents to support your financial situation. Once your documents have been checked and everything is on the right path you’ll be notified about the total approval of the loan on the next business day through your email account.

    After being  approved you can expect the cash available in your bank account within the next 48 hours. All the same, you should be prudent and plan to have the money on at least 5 business days just in case there’s a delay due to the great amount of credit providers they work with. We all know sometimes process times may be slower than we expect.

    I will add that this is a free of charge service SA Cash Loans offers to their clients so, you don’t have to preoccupy about hidden fees or any extra cost.

SA Cash Loans Quotes and Instalments

    If you decide to work with SA Cash Loans you should know the smallest amount you can ask for is R 1,000 and it can go up to R 150,000. Also,  you can choose repayment terms from 6 to 60 months. When deciding on the amount to ask you should keep in mind that your credit profile will have an effect on the sum of money you may qualify for.

    The amount of the loan along with the terms and conditions of such will be settled by the credit provider but it will be discussed by them and the applicant.

    Keep in mind they offer Unsecured Loans, so you don’t need to worry about risking any other property to borrow money as you won’t be asked to place a collateral as guarantee.



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What is the interest rate?

    The interest rate will depend on your specific situation and, of course, will be decided by the credit provider. Once your application is approved one of SA Cash Loans representatives will get in contact with you to reveal the full quotation.

Contact Details

    Now, I’ll provide you contact details to communicate with SA Cash Loans if you decide to apply with them.

    SA Cash Loans address is 356 Anton Lembede Street in Durban but, as I said at the beginning of the article you can apply through an email or by phone. The email you can write to is queries@sacashloans.co.za and the telephone number you can call is 021 202 1879.

    They open at 8:00 and close at 16:30 from Monday to Friday. Bear in mind they close on weekends and on public holidays.

    Now you have this information you can apply from whatever part of South Africa you may be.

Quote

R 150,000

Interest Rate

Depends on the characteristics of the loan

Telephone Number

021 202 1879

Address

356 Anton Lembede St. Durban

Working Hours

Mon- Fri 08:00 – 16:30

Requirements

Employed or self-employed for 3 months

Email Address

queries@sacashloans.co.za

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Questions and Answers

What if ive got a joined account at another bank but do have an account at fnb also and i want to start a small business and dont have enough capital can i apply for a loan at fnb?
The first thing you need to do to apply for a FNB loan is to open an account with the banj, which will not take more than 2 days.
Can I apply if I live in Rustenburg?
Yes!
Will I be charged for the service?
No, you'll pay only the instalments and rate.
What are the office hours?
Weekdays from 8 am to 4:30 pm

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