The current state of the economy has made debt a major issue for a large number of families. Getting in was easy, but it’s tough to know where to start when you want out. Read the description below to see if this 12-step program is suitable for you. There are many different ways to get [...]
We are an Australian based credit licensed finance broker. We attempt to match you with a reliable licensed lender willing to give you a short term loan..
Each lender has it's own fees and charges which are summarised below. We always attempt your loan with our primary lender Nimble first, if accepted by them your first loan costs just 1c. If you are not accepted by our primary lender but matched with another you will always have a chance to review ALL fees and charges before agreeing to your loan - Like we say, No nasty Suprises!
Please also take the time to review these important fees, terms and policies:
Our Commitment To Clear Fees & Charges
Firstly, we will ensure our lenders always tell you exactly what your costs will be upfront. No nasty surprises.
Our Current Lender Panel Charges
Presently, If approved by our primary lender, Nimble your first cash loan costs just 1 cent. Repay just 1 cent more than you borrow. After that, when you take out an loan, regardless of the amount, it's simply a $45 fee. Then $30 for each week you have your cash loan - for a maximum of 6 weeks.
If you are not accepted by Nimble we will attempt to get you a loan with the following trusted Australian Licensed loan companies:
These advances incur a $1 admin fee and a $28.98 broker fee - for each $100 you borrow. So you basically pay a flat fee of $29.98 for each $100 you borrow.
If you borrow between $125 and $375, you pay a brokers fee of $25 for every $100 borrowed. If you borrow between $400 and $2000, you pay a brokers fee of $27.50 per $100 borrowed.
First Stop Money
Simply charge a flat rate of $38.00 for each $100 borrowed.
*All charges should be reviewed at time of approval
Our primary lender does not roll over loans. They strictly make affordable, flexible arrangements and minimise charges for overdue clients without renewing the original loan. If you are not accepted by our primary lender but matched with another you will be presented with details on their renewal policy before you accept your loan.
Late Payment Implications
It's important to know the costs of your cash loan can only increase if you fail to stick to your initial repayment schedule, for example if you are approved by our primary lender and do not contact your lender at least two business days prior to your direct debit. With Nimble the collection process if you fail to do this is as follows; If your direct debit is declined by your bank you may be charged a dishonour fee by your bank plus a $35 failed payment fee by them. The $35 fee will also be applied when your lender has agreed to reschedule your payments for a later date. Your account is then considered overdue and passed onto the lenders repayments team who will make an arrangement with you. If your account continues to remain unresolved, daily fees of $7 can continue to accrue for up to 45 days. If you are not accepted by our primary lender but matched with another you will be presented with details on late payment schedule before you accept your loan. If you think you are going to not be able to keep to your arrangement, contact the lender ahead of time so you can avoid the failed payment fees imposed by your bank.
If our lenders cannot recover the money over a reasonable period, your account may be passed to an external collections partner and a credit reporting agency may be notified. As with most credit facilities, if your account remains unpaid the lender may list a default with a credit reporting agency. A credit default is listed on your credit file for up to 5 years, so it's always in your best interests to keep in touch with your lender if issues should arise
Our lenders operate carefully to lend amounts which will no lead to repayment difficulties, regardless of this you should not take out a loan if you think you might struggle to meet the loan terms at any stage.
For more info, including our code of conduct visit our Responsible Lending page.
Annual Percentage Rate
Traditional APR or "Annual Percentage Rate" is not applicable to the service that our primary lender provides as the loans are fee based. For clear information on all fees and charges with no hidden surprises see the fees page. If you are not accepted by our primary lender but matched with another you will be presented with full details on all fees and charges prior to accepting the loan offer.