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PEP Loans for Unemployed: Options & Processes

If I don’t have a payslip or source of income, can one apply for PEP loans for unemployed people and PEP loans for blacklisted?

If you don’t have a job, acquiring a personal loan might be difficult; you’ll need to demonstrate that you’ll be able to repay the loan in some other way.

But before you go ahead and attempt, consider whether a loan is the best option for you.

Unemployment may be devastating to your financially, and a personal loan may appear to be an appealing alternative to help you get back on your feet.

Unemployed people can get loans, but you’ll probably have to show that you have another source of income, and the lender may scrutinize your credit history.

Please keep in mind that, PEP loans for unemployed people are not available, because payslip is one of their requirements.

Although, besides the usual ABO Mashonisa in a corner of the street, there are still reputable and legit lenders that can provide you with a loan still.

Here are some things to keep in mind when asking for a loan if you’re unemployed, as well as some information and alternatives to explore.

Lenders may consider the following factors while evaluating your loan application:


In the realm of financing, income is typically a key factor, which is why being jobless might make receiving a personal loan more difficult.

However, if you have income sources other than a typical employment, you may still be eligible.

Here are some frequent alternative income examples.

If your lender allows it, you may be allowed to mention your spouse’s salary on your loan application if you’re married.

If you can utilize that money to assist repay the debt, you may be able to do so.

If you wish to include your spouse’s salary as a source of income, you may need to add them as a co-applicant.

Capital gains or money earned from investments such as real estate may indicate your capacity to repay your loan.

One-time capital gains may be disallowed, but recurring income from dividends or rental properties may be permitted if the lender agrees.

Other payments: Other dependable sources of income include unemployment, alimony, and child support.

Credit History

When it comes to deciding whether to provide you an unsecured personal loan, your credit score is also important.

Lenders will almost certainly look at your credit scores, as well as your payment history and other information on your credit reports, such as previous bankruptcies or collections accounts.

Take Away

As we have already answered the question and removed the curiosity about finding PEP loans for unemployed or blacklisted.

You can’t apply for any PEP loans for unemployed since a payslip is one of their main requirements for you to qualify.

Over and above, we hope the above information will help you if you meet the requirements or it is applicable to your profile.

If you have a payslip, you can apply for PEP loans by following this link.

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