Short Term Loan Options in Australia

Short Term Loan Options in Australia
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There are times in our lives when we may need to access some money without much notice, in order to meet some of our personal or professional expenses. While there are a variety of loans that can be suitable for a range of different financial purchases, in some of these instances the most appropriate type of loan may be a short term one.

Typically these loans will be available at various locations in your area and will often reflect a shorter repayment period and even a smaller amount. Do you have some immediate expenses that you won’t have enough money to cover? If so, here are some companies across Australia that may be able to offer you the short term loan you require.

1) MoneyMe

Also known as a payday loan, these loans offered through the company, MoneyMe can help you meet your financial demands in a pinch. Through this small finance provider you will also find that there is minimal paperwork and other hassles associated with taking out your loan. You can access loans that range from $200 to $1000 through an online cash transaction.

This group appears very up front about their fees and rules, so there aren’t any surprises for the borrower. If you need the money as soon as possible – this could be the place to go. They boast that the application process takes no more than 5 minutes and once you have been approved, you can expect the money to arrive in your account within the hour.

This subject of course would not be complete without discussing the repayment guidelines. First and foremost, it is vital that you don’t take out a loan that is too large for you to manage within the confines of this short loan term. With that being said, Money Me does state that they will not allow you to borrow more than you can realistically afford – so as you can see this precaution can definitely benefit and protect borrowers from falling even further into debt. Typically, you will be expected to repay this loan back within approximately 30 days or a timeframe that is based on your specific pay cycle. Ultimately though, you should only access the loan, if you know you will be able to meet the repayment timelines.

The company is licensed by the Australian Securities and Investment Commission (ASIC) and is also a member of the Credit Ombudsman’s Service. This is important information to be aware of, as they have rules that they must follow in accordance with ASIC. Additionally, Money Me has also has taken measures to protect the security of your money and your personal information and dealing with a company that prioritizes these issues is worth noting.

2) Rapid Loans

Established in 2003, Rapid Loans has a long-standing history of offering short term loans to residents across Australia. Once again, this group provides fast, online personal loans that are meant to only last for a brief period of time. The company also aims to match loan types with individual needs as well as budgets. They offer loans to borrowers with poor credit, as long as certain requirements are met. Overall, Rapid Loans presents itself with a non-judgemental outlook on varying financial situations and wants to help individuals obtain the loans they really need.

Much like the first company, the approval process is short and they can provide you with an answer within minutes. You can also speak to personal loan consultants and further discuss your unique options, including interest rates, etc. These professionals will also remain your point of contact throughout the duration of your loan and can provide additional advice and support along the way.

The link above will take to their site and there you can browse the different loan options and features. You can also access their tools that help you calculate your repayment ability and loan parameters right on the spot. This can be the first stage you can take before you go on to contact this lending group.

3) Australian Lending Centre

A third possible option for obtaining a short term loan in Australia, is the Australian Lending Centre, who’s slogan states that they provide “short term loans for long term things”. These short term loans can range from personal expenditures,and property investment purchases, including loans required for business expansion. As mentioned, their loans can serve the purpose of helping you make a purchase that will allow you to grow your own equity over time.

ALC also seems to recognize that there are times in people’s lives when they require a surge of cash to help them move forward. The nature of these loans stay true to the short term loan format and as a result there is not a long wait for the funds, once your application has been approved.

The business model seems to reflect the idea that people should not miss out on achieving their financial goal because they have fallen on hard times and are currently unable to make their payments on time. Poor credit does also not deter you from being able to apply for a loan through ALC. They do not perform a credit check, yet will advise you whether a loan is right for you at this time.

They pride themselves on being in the business of responsible lending and are also open and honest about the costs and fees and implications of taking on a short term loan. They will establish a loan term and payments that will also be aligned with your current needs. As a member of the ASIC, they also will not enter into a lending agreement if they believe it will lead to further financial hardships for any potential borrower.

The website offers some key information that can help borrowers get started and find out more about the various loan options and if this Australian Lending Centre is the best choice for you. For more information you click on the link above and enquire further about their services.

Ultimately, with proper repayment behaviour, short term loans can also be a way to improve your credit history, which will enable those will bad credit to turn things around and seek out more diverse loan options in the future. Having bad credit now, does not have to mean that you will have bad credit forever. By examining your short term loan options, you can regain your financial stability and find a suitable loan.

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