13 December 2022 - 08:30It’s becoming increasingly popular, and in some cases necessary, to have a side hustle, and when it comes to funding it, a loan is an easy way to access the cash you need to get started or to grow it into your main hustle.
But loans aren’t one-size-fits-all. Different types will be better suited to different needs, and while either acan be useful, they have different requirements, and understanding your options will help you in making the right financial decision for your business. To help you with that decision, Standard Bank breaks down the key differences and what to consider when choosing a personal loan or a business loan. gives you access to a lump sum of money that can be used for almost anything. How much you can apply for and under which terms is dependent on your credit history and financial situation. Applying is quick and easy and only needs personal documentation such as an ID, proof of residence, a payslip and bank statements.
What will you use this money for? Is it to make a big purchase, pay off debt or have cash flow and so on?Can you afford the repayments?