Applying for a loan
Am I eligible?
To be eligible for a loan you must be:
- Aged 18 years or over
- A permanent resident of Australia
- Have a regular source of income – either a Centrelink Pension or work income.
- Have a working phone number
Please note if your only source of income is either Newstart, Austudy or Youth Allowance we’re unable to provide finance.
How long does it take to apply?
It only takes a few minutes to apply and submit your documents. Our form is short and simple to complete and we provide an automated method to submit your bank statements and identification.
I’ve applied, what happens now?
After you complete the application form you’ll be emailed a link to submit your supporting documents.
Once we receive your supporting documents, we’ll start processing your application. You may receive a phone call from a loan officer (within our business hours) to confirm a few details. If there is a good time to reach you please let us know via email at firstname.lastname@example.org or give us a call on 07 5452 7400.
How long does it take to get an answer?
We usually have a response for you within 2 to 8 business hours. Processing times vary depending on the application. We are open Monday to Friday from 8am to 5pm.
We have real people processing your application (not just a computer) which allows us to take your circumstances into consideration. A loan officer may need to call you to discuss your application. If we can speak to you quickly it will speed up the processing time.
Some people may receive an outcome outside of our business hours. We do this so that if your application doesn’t meet our initial criteria we can let you know soon as possible.
Occasionally an application can take longer due to the circumstances but your loan officer will be in touch to let you know why.
Do you help people on Centrelink?
Yes we certainly help people receiving a Centerlink pension. We assess each application individually based on your affordability and needs.
Unfortunately if your only income is either Newstart, Austudy or Youth Allowance we’re unable to provide finance.
What documents do I need to apply?
To process your application we’ll need the following documents:
- 90 days Bank Statements
- Photo ID
- Medicare Card/Health Care Card
- Proof of Income – a Centrelink statement or payslip. If you’re self employed we can work around this
- Proof of Address e.g lease, bill, rates notice, rent receipt
We provide an easy to use method to submit your bank statements and income statement during the application. We then send you a link to upload your other documents. You can also email your identification to us as email@example.com if you prefer. We accept screen shots and photos – just make sure they are clear and readable.
I’m having trouble submitting my bank statements
Please make sure you are using your internet banking login details – these are the login details you would use if you were logging into your bank on a computer. These details are often different to the login details for your bank’s phone app.
If you are still having issues please try logging directly into your internet banking using a browser (not your phone app) to see if you need to complete an update. Then wait an hour and retry our link.
Will you contact my Employer or Landlord?
We may contact your Employer or Landlord to confirm only specific information regarding your employment and address. Your privacy is of the utmost importance. We do not divulge any information regarding your loan. If you specifically do not want to your employer or landlord contact please let us know.
Do you help people with bad credit?
Yes we most definitely help people with credit issues. We do consider your credit history but we also take your current financial situation into account.
We have helped people who are currently in or discharged from Bankruptcy, paying off a Part 9 Agreement or have unpaid defaults.
How will I know if I’m approved?
Once your application is processed we will contact you via email with an outcome. If your loan is approved, your loan officer will give you a call and arrange a contract for you to sign so we can transfer the funds.
How do I sign my contract?
Our electronic signing system is completely paperless and very easy to use. We will send you a link to our contract page. The page will display a pdf copy of your contract to read through and keep. Once you’re happy you’ll just need to press a button to accept. If you need assistance please contact us.
When will I receive the funds?
This depends on your bank but generally the funds appear overnight if you sign your contract before 4.30 pm that day.
Do you do credit checks?
Yes, as a responsible lender we do complete credit checks and an enquiry could show on your credit file. We are more flexible with credit issues such as unpaid defaults or bankruptcy than other Lenders or banks. If you have concerns about your credit file please tell us about it. You can obtain a copy at www.mycreditfile.com.au or feel free to contact us to discuss your situation.
Can I apply if I’m self employed?
Yes, we can help people who are self employed. We will just need to see evidence of your income which can be as simple as showing the deposits on your statements. We don’t require up-to-date tax assessments or financials.
Can I apply outside business hours?
You can apply on our website 24/7. Our office is open Monday to Friday 8am to 5pm. Most applications will be processed within these hours. Some applicants will receive an outcome outside of our business hours. This is because if your application doesn’t meet our initial criteria we can let you know quickly.
How much can I borrow?
We provide loans from $200 to $15,000. We recommend you apply for the amount you want, we’ll then assess your application. If we can’t provide the full amount, we automatically assess for any lower amount you might be eligible for.
Do I need a vehicle to apply?
Our small loans up to $1599 are unsecured – no vehicle is required
Loans from $1500- $2000 – we don’t necessarily need a vehicle as security but it will strengthen your application.
Loans from $2000 to $15,000 will require a vehicle as security. It is preferable that you don’t have existing finance on the vehicle, but if you do we may still be able to help.
Can I apply over the phone?
Yes , if you’re having trouble completing the application form online please give us a call on 0754527400. We’re open Monday to Friday 8am to 5pm QLD time.
What costs are involved?
- Small Loan – below $1600
- Application Fee = $0
- Establishment fee = 20% of the amount borrowed
- Ongoing monthly fee = 4% of the amount borrowed.
- These loans incur a fee instead of interest
- Medium Loan – 1601 to $5000
- Application Fee = $0
- Establishment fee = up to $400
- Interest Rate = 48% p.a
- Personal Loans - $5001 to $15,000
- Application Fee = $0
- Establishment Fee = $800
- Interest Rate = 13.14% - 25% p.a
- The interest rate will vary depending on the assessment of your application
Loans may incur fees if payments are missed.
Can I pay out the loan early?
Yes all of our loans can be paid out early. There are no early payout fees – it fact it’s a great way to save money.
When can I reborrow?
You are welcome to re-apply from four weeks after your last loan was issued. If you’ve been with us before, the process is quicker and easier.
You can apply in our customer portal or by calling us on 07 5452 7400. We’ll then email you a link to supply your bank statement and proof of income to assess your application quickly.
I need to change my bank details
Please email us your new bank details to firstname.lastname@example.org so we can update your account. We’ll then send back a form for you to sign digitally.
I need to change my repayment arrangement
We require two business days notice to make changes to direct debit payments. Please email us at email@example.com by 3pm or call 07 5452 7400 by 4pm, two business days before your next payment is due.
I want to payout my loan
You are welcome to payout your loan in full at any time – you will not be charged any early payout/exit fees.
Please call us on 07 5452 7400 or email us at firstname.lastname@example.org and we will send you a payout letter
My repayment has dishonoured, what do I do?
We realise these things can happen. If you miss a payment please contact us on 07 5452 7400 or email email@example.com to discuss an arrangement.
You can catch up the missed payment by transferring the payment directly to our account or we can schedule an extra direct debit payment from your account.
If you can’t make up a missed payment right away don’t stress. The credit control team will work with you to sort it out.
What time will the repayment be debited?
The time will depend on your bank. While most direct debits are processed in the morning please ensure you leave the funds in your account for the full 24 hours as your bank may process at any time on the scheduled day
I’m having trouble making payments and need help
If your circumstances have changed and you need assistance please contact our team on 07 5452 7400 or email firstname.lastname@example.org
Our team are understanding and approachable. We’ll discuss your circumstances and work out an arrangement.
In some cases you may need to supply supporting documents.
What if my payday has changed?
Please let us know two business days before your next payment is due. We can change the day or frequency (weekly or fortnightly) that your payment is debited. Please email email@example.com or callus on 0754527400
My contact details have changed
If your email, phone numbers or address has changed please contact us to update. It’s important we have your correct information so we can keep you updated about your loan. Please call us on 0754527400 or email firstname.lastname@example.org