Small Loans

Small Personal Loan FAQs

• What is the process to get a Small Personal Loan?

  1. Apply
  It takes less than 10 minutes to apply for a small cash loan online using your computer, smartphone or tablet. You can also visit your local Cashies store to apply in person and chat to one of our friendly staff members.

  2. Check and confirm
  We’ll validate the information that you have submitted to make sure we’re lending you the right amount and it meets your needs.

  3. Approval
  If approved, the cash is transferred directly to your nominated bank account.

• What do we need from you for a Small Loan?

  • Access to the latest 90 days of your bank account transaction history for the account your income is deposited into (you don't need to print these out, you just need to login to your internet banking when applying online or in-store).
  • Identification details (Like a Drivers licence).
  • A current Income Statement if you receive a Centrelink payment.

  
  For more information view our Frequently Asked Questions.

• Who is eligible for a Small Cash Loan?

  1. I’m an Australian Resident
  To apply for a Personal Loan, you need to be an Australian resident. Non-resident Australians can apply for a Cash Advance in-store.

  2. I’m over the age of 18
  To be eligible to apply for a Cash Loan, you must be over the age of 18 years old.

  3. I’m not currently in bankruptcy or a Part 9 Debt Agreement
  If you are currently in a Part 9 Debt Agreement or currently in bankruptcy we are unable to process your loan application. However, if you have previously been in a Part 9 Debt Agreement which has been successfully discharged, we will assess your application on your current situation.

  4. What if I'm receiving Centrelink payments?
  If you are receiving Centrelink payments you could qualify for a Cash Converters loan.

  5. I have taken out two small loans* in the last 90 days, can I still apply?
  If you have had two or more small loans within a 90 day period, you may still be eligible to apply based on affordability and your individual financial circumstances.
  
  6. What if I have existing small loans?

  If you have existing small loans you could still qualify for a Cash Converters loan, however your total repayments for all your small loans can’t be more than 10% of your net income.

  *A small loan is a loan up to the value of $2,000 with a repayment period of 16 days to 1 year.

• How much can I borrow with a Small Loan?

  Our small loans range from $400 up to $2,000 and are typically paid over 2 to 12 months.

• I think I have a bad credit history, can I apply for a Small Cash Loan at Cash Converters?

  Although a good credit score will improve your chances of approval, we understand that people go through rough patches in life. That’s why our loans make getting on with life possible in a lot of circumstances. Even if your credit score isn’t as high as you would like, we can still consider your application and assess it based on your current financial circumstances, as we consider a variety of factors when approving a cash loan application.

• What is the difference between a Small Loan and a SACC?

  A SACC is a ‘Small Amount Credit Contract’, a government regulated product under the National Consumer Credit Protection Act (2009) and is defined as being a loan of no more than $2,000, set up to be repaid over a term of not less than 16 days and not more than a year. Our Small Loans fall under this category.

• What can a Small Loan be used for?

  Wouldn’t it be nice to get a kickstart with those smaller bills? Take the pressure off by getting a cash loan with up to $2,000 to pay those smaller expenses. While you can use small cash loans to cover anything, many of our customers often look to borrowing cash for these reasons:
  

  • Small medical emergency bills
  • Small dental bills
  • House bonds
  • Moving house cost
  • Urgent house repairs
  • Urgent car repairs or parts replacements
  • Urgent white good repairs like your fridge, washing machine or heaters
  • Back to school expenditures like school uniforms, books or activities
  • Vet bills
  • Other approved personal reasons

  
  If you wanted to find out more information about our loans, talk to our personal finance team on 13 CASH (132 274), or email them. You can also visit your local store and chat to one of the friendly team to see what they can make possible for you and help you get on with the things in life that really matter.