Loan application – one form, offers up to R350 000 from NCR-licensed lenders.

Freelancers, commission earners, informal traders and small business owners all earn real income without a formal payslip, and that alone should never close the door on credit.

What a lender actually needs is evidence that money arrives regularly and that some of it will still be there when the debit order runs. Three to six months of bank statements showing consistent deposits usually does that job better than a payslip, because it shows the money landing rather than being promised. Signed client contracts or recurring invoices strengthen the case for freelancers, and a sworn affidavit setting out your income sources is accepted by some micro-lenders when nothing else exists. The more consistent the pattern, the smaller the risk premium you pay.

Be realistic about the terms on offer. Loans granted on alternative income proof tend to be smaller, shorter and priced nearer the legal ceiling, because the lender is working with less certainty. You improve on that over time rather than overnight: put every cent of business income through one bank account, keep personal spending separate, avoid unexplained cash deposits, and repay a first modest loan exactly on schedule. A clean twelve-month record on a small agreement is the most persuasive document a self-employed applicant can produce.

The most common application in South Africa and the simplest: identity, income proof and an affordability assessment, with no asset pledged. Decisions are often automated and arrive within minutes, and money follows within a day or two. Because nothing secures the loan, the rate is set almost entirely by your credit profile, which is why a tidy credit report is worth more here than anywhere else.

A bond application is a different order of complexity. On top of income and affordability documents you need an offer to purchase, a property valuation and usually a deposit, and a bond originator may submit to several banks on your behalf. Expect the process to run over weeks rather than days, with attorneys registering the bond at the deeds office before any money moves.

Vehicle finance is usually arranged through the dealership's finance desk, which submits your application to several banks at once. The car itself is the security, so the paperwork includes the offer to purchase, comprehensive insurance and often a deposit. Watch the balloon payment: it lowers the instalment now and leaves a large amount owing at the end of the term.

Study loans are assessed mainly on the sponsor rather than the student. You supply proof of registration at an accredited institution, the student's ID and academic record, and the sponsor's income documents and credit check. Many agreements let the student pay only interest while studying, with capital repayment starting after graduation – an arrangement worth confirming in writing before signing.

Applications for small, short-term credit are deliberately light: basic identification, a recent bank statement and proof of regular income, often with no payslip required. Approval can take minutes. The cost is the trade-off, since fees on short terms translate into a high effective rate, so borrow only what your next salary can clear in full.

Business finance adds a second applicant: the company. Registration documents, tax clearance, management accounts and bank statements for the business sit alongside your personal credit profile, and a personal surety is common for smaller enterprises. Many owners of young businesses use a personal loan instead, which is faster to arrange but keeps the debt firmly in your own name.