LOAN CRITERIA  

Personal Loan  -  $1,500 to $10,000

Refer below for the criteria for a personal loan:

1.  General  

Applicant must be an Australian resident. 

Applicant must be minimum 18 years of age.

2.  Security  

All loans are secured – security for the loan is required.  

Acceptable security is a house and or a fully owned (not under finance) motor vehicle and or other fully owned (not under finance) registered items (such as motorcycles, caravans, boats etc)  

Will look at multiple securities (more than 1 security item) for larger loans  

Security can be provided by Co-borrowers (third party security – family member, friend etc)

3.  Applicant's Income  

Will finance some Borrowers supported by pension  

Won't finance unemployed without a co-borrwer  

Where your income is weak (pension, unemployed) you will need to provide a co-borrower that is working and has a clean credit file

4.  Applicant's Credit History  

Will look at customers with defaults  

There is no cut off for the number of defaults, however, larger number of defaults will have to be compensated by stable employment, value of security or a co borrower  

Discharged bankrupts considered  

Judgements considered  

Unpaid defaults considered

5.  Applicant's Residential Status  

Customer if renting needs to have some form of lease or Customer needs to own their own home  

Customers who board will be considered - however their application will have to be compensated by stable employment, value of security or a co borrower (in this instance time at address is over looked)

6.  Term of the Loan  

1 – 12 months

Generally, where you believe that your loan application is weak due to your financial circumstances, please consider providing a co-borrower who is working and has a clean credit file. This will greatly assist in strengthening your application.

Where you do not have the required security for the loan, again, please consider providing a co-borrower who has the required security and who is working and has a clean credit file. This will greatly assist in strengthening your application.