Being self-employed is quite a challenging venture to undertake. Not many individuals choose this path in life, mainly due to perceived difficulties involved. A common hurdle faced by many people who are self-employed is that of finance.

Individuals who are self-employed are usually considered to pose a higher risk to traditional banking institutions, so they are scrutinised more than individuals who are employed by companies.

The good news is that in South Africa, self-employed individuals can qualify for up to R100 000 in finance at affordable interest rates. While many banks are reluctant to provide finance for these individuals, many micro lending institutions are often willing to assist.

The process isn’t easy though and self-employed individuals need to fulfil certain criteria before qualifying.
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