Australia offers many options when it comes to finance. Between the banks, private lenders and other financial institutions, you can borrow money for just about any purpose. On top of that are all the credit card options, bridging loans, line of credit and more.
One popular type of loan offered by the private lending sector is what’s often referred to as an ‘instant cash loan’. Many private finance providers specialise in this type of loan and use it as a competitive advantage against the other lenders in the industry. It’s just one of a number of advantages private lenders offer.
Let’s take a closer look at instant cash loans and what makes them so appealing to Australian borrowers.
#1 – It’s All About Speed
If a loan is going to be dubbed an ‘instant’ cash loan, then the lender is obligated to live up to that. Private lenders focus on providing fast and efficient financial services. The processes are so streamlined that when you apply for one of these Personal Loans, your application is processed quickly and once approved and a contract signed, you’ll usually have the funds in your account that same business day.
#2 – Small Loans, No Problem
One problem with borrowing from a bank is the minimum lending limits they set for Personal Loans. On average you have to borrow at least $5,000. That’s all well and good if you need that much, but what if you only want $1,000?
That’s where an instant cash loan comes into its own and offers yet another advantage. Generally, the borrowing range for this type of private lender loan is anywhere from $500 up to $25,000. This is the perfect solution for anyone needing a small loan who doesn’t want to be committed to repaying finance for years to come.
#3 – Unsecured Loans
So long as you earn an income and can prove your identity, you don’t need to offer any sort of security or collateral to apply for an instant cash loan through a private lender. You don’t need to own property or a late-model car to be approved for a personal fast cash loan.
Having said that, if you have a poor credit score or you’re out of work, some private lenders offer Pawn Loans, where you can leave your car, motorbike, boat and so on as security against the loan until you repay it. It’s just another option for finance in quick time.
#4 – The Application Process Is Easy
The really convenient thing about these loans is you can do the entire application online and this includes uploading supporting documentation. You can apply any time of the day or night from the comfort of home or wherever you happen to be.
The application forms are to the point, so you won’t spend an hour filling it out. In fact, you’ll likely have it completed within 5-10 minutes. Once submitted, it’ll be processed quickly and a decision made in no time. No more waiting around for days or weeks in limbo, wondering whether you’ll get the loan you need or not.
The application process for a Pawn Loan is different. Although you can start the loan process, Pawn Loans can’t be fully completed online. To apply for a Car Pawn Loan, for example, you need to bring it into the lender’s premises so they can inspect it. A loan amount will then be negotiated based on the current market value of your car.
#5 – Transparent and Simple Terms
One positive fact you’ll discover about many private lenders is they are very transparent on their website about terms, fees, interest rates and so on. There’s no guesswork involved in understanding what you’ll be signing up for if you take out a loan. You also won’t have to read through pages and pages of some detailed PDF searching for hidden fees and charges. Just peruse their website and you’ll find a trusted private lender will have it all laid out clearly.
If you are unsure about anything regarding the terms and conditions of an instant cash loan, send an email or make a phone call to clarify anything you don’t understand before applying for finance.
Instant Cash Loans With Cashify
If you’re looking for a loan firm in Australia that approves applications fast and offers very fair terms and conditions, then give the team at Cashify a call first. We specialise in instant cash loans including Personal Loans and Pawn Loans, so make us your number one choice for rapid finance. Talk to one of our friendly staff today.
Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.