If you are looking for loans for unemployed with no income in south Africa, then you are at the right place. Kindly take your time and read through this.
Can you receive a loan in South Africa if you’re unemployed?
It’s a tricky one because if you know how loans work, you’ll know that the main qualification requirement is income.
So, in a nutshell, the answer is NO! However, there are alternative options for making money while unemployed.
Can You Get A Loan If You’re Unemployed?
If you are unemployed in South Africa, you will not be able to apply for a loan.
The reality is that you will have to repay the money with interest. Giving you a loan while you’re not working is a clear loss for the bank, and they don’t like losing money.
Even if you have a decent credit score, lenders will be hesitant to lend you money if you are not working.
Other companies may offer you a loan if you are unemployed; however, do not even consider it because you will almost probably be cheated.
What you should concentrate on is finding new work or other ways to create money in your neighborhood.
How Can You Make Money While Not Working?
There are several ways to make money both online and offline.
1. Find New Work
Being laid off isn’t the end of the world if you have a skill that another company could employ.
Don’t give up and begin exploring for new employment options.
Begin by revising your curriculum vitae with the most recent skills, accomplishments, and work experience.
Then, go to internet job boards and begin applying for job openings in your field of expertise.
2. Sell Unwanted Stuff
You can gain money by pawning or selling undesirable items.
Perhaps you have an old laptop or phone that you no longer use. While you’re looking for a new work, you can sell those for a short cash boost.
To sell your items, you can use social media and other venues such as the ones listed below:
- Facebook market place
- OLX
- Gumtree
These are the well-known locations where you may be certain of a legitimate sale from real users.
3. Join Uber/Bolt Driver Portal
You can become a driver for Uber or Bolt and earn up to R5,000.00 per month. If you join with your own car, you may earn around R17,500.00 each month using the Bolt or Uber apps.
Follow these step by step guides on how to join each app:
- Bolt driver registration process
- Uber driver registration process
4. Rent Your House
If you have a large property with plenty of space, you can rent out a piece of it for extra cash.
In cities near enterprises and manufacturing, house renting is a big sector. You’ll be able to make enough money on the side if your house is close to places of business and entertainment.
You may potentially relocate to the exterior rooms and rent out the entire house to a family. You’ll have a steady income even if you’re still unemployed.
5. Start a Business
If you’ve always wanted to operate your own business, now could be the moment to start selling your services and products.
While some businesses require a large amount of capital to get started, yours may just require a little amount to get started.
Find a skill or product that is in high demand and provide it to customers with professionalism.
Thank you for reading our todays post on loans for unemployed with no income in south Africa. We hope to see you back soon.