Need to borrow money fast? We’ve got your back
We understand that life doesn’t always go as planned and sometimes you may need to borrow money to get you out of a sticky situation. CashPal is a 100% internet-based lender finding service. We pride ourselves on being able to match you with a lender to suit your financial needs. Read on to find out more about how we can help you.
Reasons for needing money lenders
People have been borrowing money since, well forever really! Although the methods have changed, the basic premise has largely remained the same: you borrow a set amount of money, and then pay it back for a fixed period at a predetermined interest rate. With the drastic advancement of technology in recent decades, most people now borrow money online.
Just some of the reasons that a person would need a loan:
Lack of access
There are many reasons that you wouldn’t be able to borrow money from a bank or borrow money from a bond. Banks will often refuse to lend to anyone with a bad credit history, which cuts a lot of people out of the picture. Thankfully, we can connect you with lenders who offer access to loans regardless of your past. Many of them also offer faster responses than what you would experience at a traditional bank.
Sometimes situations arise which mean we need money FAST. Without being able to apply for a loan through traditional means, you may panic and try to borrow money against a vehicle, or even your house! But, wait! Before you borrow money against a car or any other much-needed possession, why don’t you find out if we can help? We are able to connect you with lenders who cater to all sizes of loan amounts with a range of repayment terms and interest rates.
Sometimes you may need to apply for a short-term loan in order to make more money in the future. For example, if you need to borrow money to buy shares or other investments. You are confident that you will be able to make returns on your money, but you don’t have the upfront capital. Our lenders are able to offer you an immediate loan, so you are able to make more money long term.
Choosing a lender
There are thousands of private money lenders in Australia, so how do you pick the right one?
Making dozens of separate loan applications to individual companies can be time-consuming, and frustrating. You may have to wait days or weeks for a decision to come through.
Our easy-to-use loan application form takes your vital information and puts it in front of a panel of leading lenders. This not only gives you a chance of being offered a loan to suit your preferences but makes it also means you can get a money loan fast. Your application can be approved in a matter of minutes. We have high success rates of matching customers with the right lenders who offer them reasonable repayment and interest terms.
We know that when you need to borrow money now, the last thing you want to do is spend days researching, or weeks waiting for an answer.
CashPal was created to help you sort the wheat from the chaff in terms of money lenders. How do you know which is the right one for you? Who will accept people with bad credit? Which companies are legitimate? Who has the best interest rates? How do I even know I’ll be accepted?
All of these questions can contribute to hours upon hours of internet searching. Why not skip the stress, and just enter all of your information in one handy online form?
No being kept on hold waiting for an advisor to answer your questions. No letters of rejection waiting on your doorstep. With our automated online submission form, you get your answer within a few minutes. If matched, the individual lender will then contact you to discuss your options further.
You only need to apply once and you will receive an instant answer from our automated form. If you apply within normal Australian business hours we will be able to connect you straight to a lender there and then, provided the criteria are met.
Ease your money stress – allow us to find you a lender who can offer you the loan you need in the timeframe you want.
Are you eligible to borrow money?
Unlike other companies, our application criteria is simple:
- 18 years of age or older.
- Be an Australian citizen or a permanent resident with proof,
- Paid a regular income into a personal bank account for at least 90 days,
- Have a direct mobile number and email address
Tick all the boxes? Then we can help!
We have helped people of all ages to apply for a loan (over 18 of course!). We pride ourselves in providing money lenders for millennials, money lenders for pensioners, and everyone in-between!
Once an individual meets all the requirements above, he/she is qualified to apply. Our automated platform will then work on finding you a lender who can lend you the money you need.
Please note: We never place any restriction on individuals who have received a Centrelink payment. If you have a Centrelink payment and are eligible to apply then please do!
Borrow money: How much can you borrow?
Our lenders will approve loans from $300 to $10,000. So if you just need to borrow money until payday, then we can help!
The amount that will be approved is dependent on background checks such as income and provision of bank statements. The repayment terms and interest will vary depending on the amount you want to borrow.
I want a ‘No Credit check’ can I still apply?
Do you have a bad credit rating and worry that it will affect your loan approval? Never fear! Some lenders will grant applications without conducting a credit check, while for others it will be a requirement. Regardless, lenders won’t typically reject you just for having a bad credit score.
Why do lenders ask for bank statements?
For money lenders to give fast cash, checks may first have to be done. This is to ensure that you have enough funds to fulfil the agreed repayment terms.
Your bank statement is an easy method for a lender to determine whether or not you will be able to maintain the repayment terms offered. Your bank statement will clearly show all of your income and expenses, helping lenders to determine what loan they can offer you.
Our system asks you to upload a bank statement which will be stored as a secure, ‘read-only’ copy. Lenders will be able to view this to decide if they can offer you a loan. For customers that fall into the category of Centrelink payments, your lender may also require you to access your myGov account for details verification.
Payslips, bills, and some additional documents might be required by your loan provider, this varies from lender to lender.
Once their assessments are complete, they’ll decide whether or not they want to offer you a loan. The lender will then send you a contract to review. If you’re happy with the contract, and the terms, you return it to the lender with your payment details and you should receive your money in a matter of hours.* This can take longer if you have a different bank from your lender.
We pride ourselves on having an incredibly fast and simple application process. All it requires is filling out our easy-to-use online form, and giving us the essential information we need to find you the right lender.
The information we need will include:
- The amount you need to borrow
- How long you’ll need to pay it back
- Your current employment situation and salary
- A bank statement
- Your reasons for needing to borrow the money
Once your application form is submitted you’ll receive an outcome. We’ll be able to link you up with a lender in minutes, provided you apply during normal business hours: Monday to Thursday 8 am to 6 pm, and Friday 8 am to 4 pm EST.
Once you’re matched with a lender, all the rest will be handed over to them. They’ll be in touch with you to complete the remaining process. Some lenders may request additional information about yourself along with some employment check.
How do we assess you?
An assessment on whether or not you are suitable for a loan, and which one you’re offered, is based on the information you give us. Say, for instance, you apply for $10,000 loan, but you only have a very low income you are unlikely to be approved, but you may be approved for a smaller loan. This is because the lender may not be able to fit the requested repayment term into your current budget.
Lenders may require proof of your employment to give you an accurate offer. If this information is requested, it is in your best interest to provide it as quick as possible to be given the best terms. We have guides available to help you with all the necessary information if needed.
To get a better idea of the repayment terms for loans of different sizes, you can use our loan calculator, to get an idea of the repayment terms and interest rates.
How much will a loan cost?
Wondering how much your loan will cost you? Why not try our handy loan calculator? You can move the slider to determine roughly the amount you borrow and the slider below to show how long you need to pay it back. The calculator will then give you estimated calculations of how much your weekly, bi-weekly or monthly payments will be.
You can borrow anything from $300 to $10,000 for a repayment period of between 12 and 24 months.
Depending on how much you want to borrow, repayments start at less than $10 a week. In terms of interest, the maximum you will likely be charged is a flat 20% Establishment Fee and an ongoing 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%.
Other fees may be applied in the event of missed/amended repayments.
*Exact interest/fee rates will differ for each contract, please check directly with your lender.
Please note, this is for illustrative purposes only. Exact amounts will be determined on your loan contract.
Money lenders Australia-Wide
If you are looking to connect with the most reputable money lenders in Australia, then look no further.
CashPal connects you with the leading money lenders, with the best rates, from across the country. Whether you’re looking for money lenders in Cairns or money lenders on the gold coast, we can connect you with the right lender for you.
Got more questions? Don’t hesitate to get in touch with one of our helpful team today, or apply via our online submission form.