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YOUR MONEY | Self-employed: can you get a loan?

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(Photo: Gallo Images/Getty Images)
(Photo: Gallo Images/Getty Images)

It used to be a nightmare for contract workers or people who run their own businesses to apply for a loan.

Financiers seemed to view them as too much of a risk. But times have changed and more people are doing contract work or running their own business, thanks to technology.

Tech also makes it easier for banks to make informed decisions about if clients can afford loans – whether they’re contract workers or not. Corné Jordaan of FNB’s loan division offers some tips to bear in mind when making an application.

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