Category

Personal Loan

What’s the Difference Between a Personal Loan and a Personal+Plus Loan?

By | Personal Loan

Many lenders in the private sector offer a variety of loan options, with one of the most common being a standard Personal Loan. In addition to the regular Personal Loan, there may also be the option of applying for a more premium loan option, such as a Personal+Plus Loan.

In this article, we’ll discover the difference between a standard Personal Loan from a private lender and a premium Personal+Plus Loan, along with details on applying for these loans and the process involved.

Standard Personal Loan

One major advantage of a regular Personal Loan from a private lender, compared to applying for one with a bank is the borrowing range. While most banks will have a minimum of around $5K for a Personal Loan, private lenders start their borrowing amounts at around the $500 mark.

Standard private lender Personal Loans offer you terms of between 3 months to 12 months to repay the loan in full. Repayment options will either be weekly or fortnightly, rather than the monthly option.

The standard Personal Loan option from a private lender is one of the fastest ways to get the cash you need for emergencies or purchases that don’t require tens of thousands of dollars.

Personal+Plus Loan

What is a Personal+Plus Loan?

The Personal+Plus Loan is a step up from the standard version. It offers more flexibility to be able to tailor the loan and terms to your individual needs.

If you have a good credit score, you’ll also be rewarded with lower interest rates and fees.

You can also borrow more with a Personal+Plus Loan, with the typical borrowing range being from $5,000 to $25,000 on average with private lenders. As you can see, this type of loan is designed for people who need more cash to cover what they need to purchase or pay for.

Another key difference between the standard Personal Loan and the Personal+Plus Loan is the terms. With the more premium loan, borrowers get 6 months to 36 months to repay the loan, more than double the time period of the standard loan.

The income criteria for the Personal+Plus Loan is also more stringent, due to the higher borrowing capacity. Typically borrowers will need to be earning a gross income of $50K annually to be eligible to apply.

The Application Process for a Personal+Plus Loan

Applying for a Personal+Plus Loan is very convenient, as you can do the entire application online from home or anywhere, at any time of the day. Fill out some standard information about yourself and your finances and you’ll be done within minutes.

To be eligible to apply, you must be over the age of 18, be able to prove your identity, an Australian citizen or permanent resident, and be currently employed with a minimum income of $50,000 per year.

Supporting documentation is minimal, which helps speed up the application process.

Another huge advantage when applying for a Personal+Plus Loan from a private lender is how quickly loan applications are assessed and approved. There’s a good chance the funds will be transferred to your bank instantly once you’ve been approved for finance.

How To Use a Personal+Plus Loan

Like any Personal Loan, a Personal+Plus Loan can be used for a variety of purposes. For example, you might want to upgrade your car, go on a holiday, pay for your wedding day, do some renovations around the home or even consolidate your debt.

If you’re unsure whether the purpose you have in mind is eligible, it’s best to discuss this with the lender first before applying. Even if you can’t get a Personal+Plus Loan, there may be another finance option available to you.

Cashify – Your Personal+Plus Loan Specialists

At Cashify, we offer our clients the choice of applying for a standard Personal Loan as well as Personal+Plus Loans. Browse our website and you’ll discover we have some of the most competitive interest rates and terms in the industry.

We’re always happy to answer any questions you have before you apply, so shoot us an email at info@cashifyloans.com and one of our friendly and knowledgeable staff will be in touch.

If you need finance and you need it fast, Cashify is your number one choice for all types of Personal Loans.

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.

How a Debt Consolidation Loan Can Change Your Life

By | Personal Loan

Out of everything in life, one of the greatest causes of stress across the world is money (or a lack of it). Not making enough money each month is bad enough, but add in one or more debts that have to be paid and those stress levels increase exponentially.

Mounting debts and a lack of income are a volatile combination that can leave a person feeling miserable and in a state of hopelessness. It doesn’t have to be that way, though.

A Debt Consolidation Loan can help and in this post, you’ll discover just how consolidating your debt can reduce those stress levels, free up your finances and allow you to take back control of your life.

What Are the Uses of a Debt Consolidation Loan?

The primary purpose of a Debt Consolidation Loan is to make your debts more manageable. In other words, you combine more than one of your current debts into a single loan, thus reducing the interest you pay every month and also reducing the minimum monthly repayments.

These two factors alone are a huge weight off the shoulders of someone who feels like they’re drowning in debt and is struggling to swim against the financial current. With a Debt Consolidation Loan, while the amount you owe in principal might technically remain the same because you have merged two or more loans or debts into one single loan, it will reduce the interest you pay on top of that principal.

This is especially true if you have a number of credit cards and merge those debts into a Personal Loan instead. Credit cards are notorious for attracting high rates of interest compared to other forms of finance, so consolidating them by getting a loan that pays out the balance on those cards makes perfect financial sense.

For the sake of a simplistic example, let’s say you have 3 credit cards that total $10,000 owing on them, and let’s assume that the average interest rate on all 3 cards is 18%. If you can arrange a Personal Loan for $10K to pay out the balance on all 3 cards and the interest rate of that loan is lower, you’ll save money on interest as well as reduce your monthly repayments. You’ll only have to concern yourself with paying one debt monthly instead of 3, and that repayment will be lower and far more manageable.

It’s the principal reason why Debt Consolidation Loans are so popular and why finance companies and banks advertise them so heavily.

Debt Consolidation Can Change Your Life

Everything we need and do in the modern world costs money somewhere along the line. No one can survive without it. That’s why financial problems can create so much stress. Money worries can lead to arguments with loved ones, put added pressure on a relationship and even depression.

While that all sounds like a bit of a downer, there are ways to get your head above water and one of the best tactics to reduce the financial strain on you and your family is through debt consolidation.

Getting your finances under control literally can turn your life around in many ways. Reduce the money stress and see how everything else in your life suddenly looks that much brighter. Instead of being stressed and depressed, you can get out there and enjoy life again.

That’s the way life’s meant to be, feeling free and having fun, not drowning in a pool of debt that you can’t cover month to month.

Where Can I Get a Debt Consolidation Loan?

Debt Consolidation Loans are available through most banks and private lenders. It’s a matter of shopping around to find a deal and terms that suit your circumstances.

Here at Cashify we specialise in Debt Consolidation Loans. One competitive advantage we offer is speed. We’ll process your application and make a decision in a very quick time. Once an application is approved and signed, you’ll have the cash in your account that same day or the very next business day.

Check out our website for the latest interest rates and terms on our Debt Consolidation Loans, which range from as little as $500 and up to $25,000.

Give us a call today and get on top of your finances.

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.

5 Things You Need To Know About An Instant Cash Loan

By | Pawn Loan, Personal Loan

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.

What Is a Premium Personal Loan and Why Would You Want One?

By | Personal Loan

Just about all lenders will offer some form of Personal Loan, where you don’t borrow money for any one specific purpose – such as a Home Loan or a Car Loan – but rather can use the cash for a variety of options, such as a wedding, holiday or cover an emergency expense.

Banks tend to just offer one type of Personal Loan, but when you take out finance with a private lender, many will offer a standard type of Personal Loan as well as premium Personal Loans, or “Personal+Plus” Loans.

So, what is a premium Personal Loan and why would you want to get one?

We’ll answer those questions in this article.

What Is a Premium Personal Loan?

With a private lender, a premium Personal Loan is a step up from the regular or standard Personal Loan. The “plus” version offers both higher minimum and maximum borrowing amounts as well as more competitive interest rates and longer repayment periods, should you require more time.

Premium Personal Loans in Australia tend to be the domain of the private lending sector and it’s all about offering choices for people in different circumstances. As not everyone’s requirements are exactly the same, a premium loan could be the better option when a borrower needs more cash at a better interest rate than the standard Personal Loan offers.

Premium loans can also be customised on a case by case basis. This offers flexibility and peace of mind, knowing that your finance has been tailor-made to fit in seamlessly with your situation and financial circumstances.

Why Would You Want a Premium Personal Loan?

There could be many reasons to opt for a premium Personal Loan provided by a private lender. The most common would be that you need more cash than what the standard Personal Loan offers.

Big moments can happen in life. They could be something you are meticulously planning for, such as your wedding day, or it could be something totally unexpected like your car breaking down and it needs replacing. Another might be you’re faced with a medical emergency. You may require surgery in a private hospital, for example, and need to be able to cover all the costs almost immediately.

One good reason to opt for the Personal+Plus type of Personal Loan is if you want to consolidate your debts, reduce your total monthly repayments and save money on interest in the process.

If you enjoy the convenience of being able to apply for a Personal Loan at any time from the comfort of your own home, then rest assured you can do just that with Personal+Plus Loans from a private lender. The application process is very easy and really only takes a few minutes of your valuable time to complete.

Private Lenders Offer Fast Cash Approvals

If you like the idea of being able to get instant cash in your bank account, then a premium Personal Loan from a private lender is definitely the best option. To gain a competitive advantage in the finance world, private lenders work on offering borrowers speedy solutions throughout the entire experience.

This starts with the ease and speed of the online application process and minimal paperwork. Once your loan application is submitted, it’ll be processed and reviewed quickly, with a decision given usually on the same day.

If your loan is approved early enough in the afternoon, you should have your cash deposited in your bank account by that evening, if not the following day. Now that’s fast service that you likely won’t see with the more traditional lending institutions.

What Is the Eligibility Criteria?

Lenders will vary on this, so be sure to check the details on their respective websites. On average though, you’ll need to be earning at least $50K annually to qualify for a premium Personal Loan with a private lender. This means you must be employed, be over the age of 18, be able to prove your ID and be an Australian citizen or resident.

Contact Cashify Loans For Premium Personal Loans

If you are after a premium Personal Loan at great rates, then get in touch with the team at Cashify. Talk to us first about your requirements and how we can tailor a Personal Loan to your needs. We’re just a click away.

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.

Faced With An Emergency? Where To Find Money and Fast!

By | Personal Loan

Emergencies can happen at any time to anyone. There are all different types of emergencies. Some could involve physical injury or illness, while others might be something like your car engine failing and needing replacing.

Just about every emergency situation will require some financial input to help out or get it resolved completely. So, if you find yourself face to face with an emergency and you need money fast, where are you going to find it if you don’t already have the cash on hand?

You Could Borrow the Money Off a Friend Or Family Member

This is often one of the first options people go with when they are in a predicament. It really depends on how much money you need to resolve something, whether hitting up friends or family members is truly a viable option.

If you needed thousands of dollars, is there anyone you know who would (or could) lend you that kind of money? When people borrow money off their friends, usually it might be $50 or so. Thousands is an entirely different scenario altogether.

If it’s an option and you can find someone who will lend you the money, then it’s a great option to have, as the loan may be a zero-interest loan. On the other hand, it can be deflating owing a friend or family member money as it’s more personal.

If it’s a possibility, you’ll just have to weigh up whether it’s worth putting strain on a personal relationship to solve your problem.

Do You Have a Credit Card?

Having a credit card that you reserve only for emergencies can prove to be a lifesaver when you find yourself really stuck and need a quick way out financially. Credit cards, when used liberally, can spell big trouble due to their high-interest rates and minimum monthly repayments. Having said that, as backup, emergency funds a credit card can be extremely useful to have on hand.

So long as you have the means to repay the debt in a reasonably quick time, then an emergency credit card can really give you peace of mind when it comes to unexpected situations.

Are You Owed Money?

If anyone owes you money, then now would be the opportune time to cash in on that debt, if possible. However, being owed money isn’t necessarily about having loaned a friend or family member money at some point.

Money owed to you could come in other forms, such as lost superannuation, an unclaimed tax refund, your bank overcharging you on fees or under-paying you on bank interest, or even an inheritance or dividends from a trust fund.

Somewhere out there in the world, there could be money owing to you. Put some thought into it and see if there is some lost cash or unpaid debts that you can call in when faced with an emergency.

Having An Emergency Fund Is Always a Wise Idea

Not everyone saves money for a rainy day or emergencies, but if you’re someone who has been diligent with this, then now would be the time to access those emergencies funds you have stashed away.

For true peace of mind and knowing that you’re covered no matter what unexpected event in life comes up, having savings put away is one of the wisest moves you could ever make.

Have You Considered Emergency Cash Loans?

Emergency Cash Loans are really very fast loans that you can often have in your hands on the very same day you apply.

Private lenders are the finance companies of choice when it comes to loaning money for emergencies, due to the speed with which they deliver.

What is an Emergency Loan?

Basically, it’s an unsecured Personal Loan that is processed and delivered in a hurry so you can get your urgent situation resolved as quickly as possible. You need those funds fast, so a private lender offering Emergency Cash Loans is definitely the way to go. With a private lender, you could borrow from as little as $500 and anything up to about $25,000, with cash in your account as quickly as the same-day.

If you’re asking, “Where can I get an Emergency Loan Australia?”, then look no further than Cashify for emergency funds. We’re here to help you get your situation under control and resolved as soon as possible, so contact us online 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.

Your Guide To Applying For a Fast Cash Loan With a Private Lender

By | Pawn Loan, Personal Loan

When people think of applying for a loan to finance a holiday, a wedding, a car, debt consolidation or any number of purposes, their first thought is to approach one of the big banks. However, banks are not the only option when it comes to personal finance. Private lenders also offer fast cash loans at competitive rates and terms.

In this post, we’ll take a look at Personal Loans, as well as a Pawn Loan option, and the general procedure and advantages of applying for these types of loans with a private lender.

What Can You Use a Personal Loan From a Private Lender For?

While on the surface it sounds like you can borrow money via a Personal Loan and use it for anything you like. While this is “somewhat” true, lenders will always ask you what you want the money for, what the majority of the loan will be spent on. However, this list will vary from lender to lender, whether they are a bank or a company in the private lending sector.

If you want a Personal Loan for a specific purpose and you’re unsure whether it fits the lender’s criteria, just ask them. That way there will be no confusion about what you can use the money for.

The Online Procedure To Apply For Loans

Just about every lender in Australia will allow you to apply for a Personal Loan online and it’s the same with most private lenders as well. This makes the application process super convenient as you don’t have to travel anywhere to do it, or physically fill out forms. You simply follow the series of questions asked in the online application and upload any requested documents.

The important point to note about the application process for Personal Loans with private lenders, compared to banks, is there tends to be fewer questions to answer, making the application quicker and easier to complete.

Private lenders are all about speed and this is one area where they deliver on that.

How Much Money Can You Borrow?

Once more, this varies according to who you apply with. Banks tend to offer larger sums of money when it comes to Personal Loans, but they also tend to have much higher minimum loan amounts.

Private lenders offer smaller Personal Loans when it comes to the standard type of Personal Loan, but the advantage is you can borrow amounts in the $100s instead of the $1,000s, if that’s all you need. For a standard loan, the maximum will usually be in the $5K to $25K range.

The first thing you really need to figure out is how much money you need and how long you need to pay back the loan. Once that’s nailed down, then you’ll know whether a private lender Personal Loan is the right fit for you.

What Documents Are Required When You Apply?

Again, this can vary between lenders, but let’s try and answer that question in a general sense.

There isn’t a lot of documentation required, but the standard documents for a Personal Loan include:

  • ID, such as driver’s licence, passport, birth certificate, utility bills in your name
  • Proof of income, as in payslips from employers or documentation from your accountant that proves how much you earn as a sole trader or from your business
  • Your bank details

This is the kind of basic documentation you would need to have regardless of which lender you deal with. Depending on your circumstances, further documents might be required, but generally the process with private lenders is very straightforward.

Private Lender Personal Loans Are Fast Cash Loans

It was mentioned earlier in the article that the private lending sector focuses a lot of attention on providing very responsive services. Speed is one of the competitive advantages they have over the banks. If you need your money fast, then a private lender Personal Loan could be the way to go.

Let’s say you have an emergency situation on your hands and need the money within the next day or two to resolve your problem or pay for medical expenses. Banks can simply just take too long to process applications and make a decision.

A private lender, on the other hand, focuses on quick turnaround times, so if you get your loan application in early enough with the required supporting documentation, it could be processed and approved on the same day, with the money deposited in your bank account at the end of the day or the very next business day.

Why You Might Want To Consider a Pawn Loan Instead

There is another option instead of getting a Personal Loan, and that’s to get a Pawn Loan from a private lender that specialises in these types of loans.

With Pawn Loans, you use an item as security against the loan amount. The lender takes possession of that item and gives it back to you once you repay the loan in full.

Pawn Loans with private lenders are on a larger scale and one of the most common items used as collateral for the loan is a motor vehicle. As a guide, you can borrow up to 60% of the vehicle’s current market value and have up to 3 months to repay the loan.

Pawn Loans are handy when you might be out of work temporarily or don’t have a very good credit history, as there are no credit or employment checks. So long as you have a vehicle, an expensive watch, jewellery or even business equipment, it’s a much more straightforward and guaranteed way of getting finance.

A Pawn Loan document checklist includes:

  • You need to provide identification
  • Your vehicle’s registration papers

Pawn Loans are a very fast and hassle-free way of getting your hands on the cash you need, when you need it. So long as you have a vehicle or some other item of significant resale value, you’ll be good to go to get approved for a Pawn Loan.

At Cashify, we offer both Personal Loans and Pawn Loans, so if you’re in the market for finance, give us a call first.

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.

5 Key Things To Know About Medical Loans In Australia

By | Personal Loan

What is a Medical Loan and why would you need one? Medical Loans are where you borrow money either to cover a medical emergency, pay for surgery in a private hospital, or possibly even for cosmetic surgery.

Before applying for a loan for medical purposes, first read this short guide so you know what to be aware of, and to answer the question, “Where can I get a Medical Loan in Australia?”

1 –  What Can a Medical Loan Be Used For?

This question was briefly answered in the intro, but we’ll dig a little deeper.

The best way to understand what you can use the borrowed money for is to talk to the lender before applying and make certain you can spend it on the procedure you need.

Generally you can cover the cost of hospital bills, including medications, as well as anything you may need to help you recuperate. You can also use medical loans to cover the cost of dental work or to see a specialist.

Your medical issue could be optical, where you might need to see an optometrist on a number of occasions, or have Lasik eye surgery.

Just check with the finance company first before booking anything in.

2 – How Much Money Can You Borrow?

This will depend on where you apply. If you go with a bank, you could likely borrow up to $50K or so, if you really need that much.

A better option could be to apply for a Medical Loan through a private lender. These lenders have lower minimum and maximum loan amounts, with figures in the perfect price range for most medical procedures and emergencies.

The price range for private lenders is usually between $500 and up to $25,000.

3 – Interest Rates Can Vary Quite a Lot

Some financial institutions offer specific loans reserved for medical emergencies and procedures, while others offer a general Personal Loan that you can use for medical purposes. Bank interest rates can go up and down on a daily basis if they’re variable. Other loans offer a fixed rate of interest, which is usually higher than variable interest rates offered by the same lender.

Comparison websites are an easy way to keep tabs on the latest interest rates being offered, so long as the information is up-to-date.

Always double-check the current interest rates on the lender’s own website, or contact them to confirm.

4 – Get Familiar With the Lending Criteria

This may vary a little from lender to lender, so be sure to check their site or talk to someone, so you understand exactly what criteria you’ll need to fulfil before applying for a Medical Loan.

Some of the standard criteria you’ll encounter will include the following:

  • Be over 18 years of age
  • Be employed
  • Earn a minimum amount of income (varies between lenders)
  • Be an Australian citizen or permanent resident

You’ll need to have the means to be able to repay the borrowed amount in the agreed period of time. Private lenders tend to offer short term loans, with terms ranging from 3 months to 36 months.

5 – How Fast Can You Get the Money You Need?

Are you in a hurry for the money? Are you faced with a medical emergency?

Approaching the banks for a Medical Loan might be just a little too slow. The fastest you could expect to get your money from a bank would be at least a few days, but probably longer. In this instance, you’d be better served to seek a Medical Loan with a private lender.

Focusing heavily on the speed of process, private lenders make it a point to assess and approve Medical Loan applications very swiftly. Quite often you’ll have your application approved and the money in your account that same day.

This can be a huge load off your shoulder when dealing with an emergency.

Apply for a Medical Loan With Cashify

Cashify specialises in fast cash Medical Loans that can be used for a number of different medical requirements. When looking for Medical Loans Australia, contact us first and discover how we can help you.

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.

Where Can I Get Instant Cash For A Startup?

By | Pawn Loan, Personal Loan

All business startups need capital to launch, along with cash flow to keep the business running until it’s profitable.

Maybe you’ve come up with a fantastic idea but have no cash to get started? Or, you’ve managed to get your business up and running but are now short on cash flow.

You don’t want your great new idea to fizzle out simply because of a lack of funds to see it through to the next phase.

So, if you’ve been asking yourself the question, “where can I get instant cash for a startup?”, this post will provide the answer. There are always options. It’s just simply being aware of those options.

Get a Quick Cash Loan

A quick cash loan, also referred to as a fast cash loan, is really just a small Personal Loan provided by a private lender.

There are two key reasons why you want to approach a private lender for a quick cash loan and not a bank. Firstly, banks don’t offer smaller Personal Loans. Generally, they often have a minimum of $5k. The second reason is that you generally won’t get money quickly when you seek finance from a bank.

With private lenders, it’s a totally different story. If you apply early enough in the day, there’s a good chance your loan application will be assessed and approved that same day, with the cash in your nominated account by the end of the day or the very next business day.

You can also borrow much smaller sums from private lenders. Maybe you only need $500 or $1,000 to cover your needs. No point getting into debt with a bank for $5K when you only want a fraction of that amount.

There are many ways to use quick cash loans too. You could put some of the money towards advertising and marketing your products or services, or even creating an online presence and having a website built. Or, you might simply want to have the cash on hand to keep you afloat while increasing business turnover.

One of the biggest killers of new Australian startup businesses is a lack of capital or poor money management. This is where a quick cash loan can really save the day and your enterprise.

A Pawn Loan Is Another Excellent Option

While Personal Loans are unsecured loans, you could also opt for a Pawn Loan if you have something of value that you could leave with the lender as collateral. Maybe you have a private vehicle or a company car.

The way Pawn Loans work with private lenders is you can basically borrow up to 60% of the market value of your vehicle, business equipment or valuables such as expensive jewellery and watches. A vehicle isn’t restricted to cars either. It could be a van, truck, motorbike, caravan, boat and so on. So long as you own it outright and can produce rego papers, you’ll be able to negotiate a Pawn Loan. The only other stipulation with vehicles is they must be less than 10 years old and have driven less than 150,000km.

Just like with the quick cash loan option, there are a number of ways to use Pawn Loans for startup businesses.

As an example, you might have a client order to fill but don’t have the funds available to get it done. You know you’ll be receiving a healthy payment from the client once you’ve fulfilled the order, so in the interim, you could get a Pawn Loan against the value of your car, get the cash you need, fulfil the order, get paid and then pay off your Pawn Loan.

The end result will be a satisfied customer and a tidy profit for your business.

Pawn Loans really are a good option to keep in mind for business owners and entrepreneurs.

The Wrap

So, the answer to the question of, “where can I get start up finance?”, is to seek a Personal Loan or a Pawn Loan from a private lender such as Cashify Loans. We provide fast service and competitive terms on both our Personal Loans and Pawn Loans. Come to us first and get your business cash flow on track 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.

101 Guide On Different Loan Options Available In Australia

By | Pawn Loan, Personal Loan

Australians are fortunate when it comes to the world of finance. There are a multitude of options available to business owners and everyday Aussies when you want to borrow money for a specific purpose, or even simply to bolster your cash flow.

In fact, there are so many loan options in Australia that it can get confusing. What kind of loans are available? Which is the best loan option for a specific purpose? Should you approach a bank for a Personal Loan or try a private lender? Is there a way of comparing the loan options available?

These are all fair questions and in this post, we’ll provide answers to those questions so you have a better idea of what’s available and which might be the best finance option for your needs.

Banks vs Private Lenders

Is one of the banks a better option for finance than a private lender or vice versa?

There is no definitive answer because both banks and private lenders have something positive to offer when it comes to a variety of loans. Your personal circumstances, how quickly you need the money, what type of loan you are chasing and how much money you need all come into the equation.

For example, if you’re looking to borrow a million dollars to purchase your dream home, seeking out a mortgage with competitive rates with one of the banks would likely be the obvious choice. On the other hand, if you only wanted to borrow a small amount of money, banks generally don’t offer small loan options. In this instance, the private lender will prove to be your best friend.

Both have their advantages and both will always play a role when it comes to lending money to Australians for all sorts of purposes.

Let’s now take a look at the different types of loans and their features.

Personal Loans

Personal Loans are one of the most common and popular forms of finance in Australia. One reason for this is you can use a Personal Loan for practically anything.

When you apply for a personal loan you’ll be given a list of options regarding what you will use the money for. While car loans and home loans are restricted to cars and homes exclusively, personal loans offer a variety of choices.

Banks will offer Personal Loans ranging from about $5,000 up to $50,000 or more, which is a handy range that covers most people’s needs. One downside with this though, is that people don’t always need to borrow a minimum of $5K.

A perfect example might be a small emergency, where just a few hundred dollars, or maybe a few thousand dollars, is enough to get you out of a tight spot. Banks don’t offer Personal Loans in these smaller denominations but private lenders do. Private lenders will allow you to borrow much smaller amounts of money, to be repaid over a shorter term. It’s really the perfect solution when you need some quick cash that’s not in the high four or five figures.

Mortgage Loans

Mortgage Loans are the type of loans that so many Australians require at some point in their adult life. There can be some confusion about the term ‘Mortgage Loans’ though, as there are actually two types.

The first is where you ask your bank for a Home Loan so you can purchase a property and pay it off. This is one of the most common loans in the country, with many Aussies chasing the Great Australian Dream – home ownership. Next to Personal Loans, a Home Loan is one of the most sought after loans there is.

When it comes to Mortgage Loans, the other option is where you take out a smaller loan against the value of your property for other purposes, a common one being home renovations and remodelling. In reality, a Mortgage Loan can be used for many purposes, but renovating is certainly one of the most common.

Now while banks do offer this type of loan, private lenders often offer far more reasonable terms when it comes to Mortgage Loans. Most private lenders offer Mortgage Loan amounts of between $5,000 and $100,000, which is more than enough for most homeowner’s needs. You can even use your Mortgage Loan to build that backyard swimming pool you’ve been dreaming of.

Pawn Loans

A Pawn Loan is one of the more interesting types of lending. We’re not talking about getting a small loan from a pawnshop, but rather loans of more substantial amounts from private lenders that offer a Pawn Loan option.

If you’re unaware of what a Pawn Loan actually is, it means offering something of value as security against the loan. A perfect example of a Pawn Loan from a private lender is to leave your car with them as collateral against the loan. When you repay the loan in full, you get your vehicle back in the same pristine condition that you left it.

The really great thing about Pawn Loans is it doesn’t matter if you have a bad credit record or even no credit score. You can still get a Pawn Loan. You can even get one of these loans if you’re unemployed, casually employed or self employed. You just have to be certain you have the means of repaying the loan so you can get your car or other valuable item back.

With Pawn Loans you can loan against:

  • Cars
  • Motorcycles
  • Caravans
  • Boats
  • Jewellery, watches & valuables
  • Business equipment
  • Company vehicles
  • And more…

Pawn Loans For Businesses

Whether it’s a start-up or an established business, many commercial ventures will need extra capital and cash flow for a variety of reasons. One of the most common would be for business expansion. Another reason might be to fulfil a very large order.

Whatever the requirements, businesses have a number of options at their disposal. Banks offer Business Loans as well as lines of credit and overdraft facilities to help with consistent cash flow. Some Business Loans are secured loans with lower interest rates while others are unsecured.

Pawn Loans are also available for businesses, where company vehicles or business equipment can be used as collateral against the loan. Loan amounts can range from $2,000-$500,000, sometimes even higher, depending on what the business has to use as security. These are short-term loans designed to instantly give business cash flow a boost right when it’s needed the most.

So long as you can prove complete ownership of the vehicles or equipment you wish to use to secure your loan and can provide 100 points of ID, you’ll be good to go for a Business Pawn Loan.

Fast Cash Loans and Emergency Loans

If you need finance fast, then a bank isn’t really going to be a viable option if you’re dealing with an emergency. Banks can take a considerable amount of time to process and approve loan applications, time you might not have.

For fast cash loans and same day loans you’re best off approaching a private lender.

Lenders in the private finance sector focus on speedy results. It’s one of the key advantages they have over the banks. Applications can be done online for a fast cash Personal Loan and the process only takes a few minutes. There is also hardly any documentation required and often the application will be processed and approved on the same day; meaning you get your cash by the end of that day or the next business day.

You can borrow anywhere from a few hundred dollars to a few thousand dollars, depending on the lender. Interest rates are fair and repayment terms are short so you’re not stuck repaying a debt for a lengthy period of time.

Quick cash loans from a private lender are your best bet when faced with an emergency or any scenario where you need money fast.

The Wrap

There are loads of options for finance available to every Australian individual and business, with both banks and private lenders offering some great deals, depending on your circumstances and requirements.

Cashify is your premier private lender for small, fast Personal Loans, Mortgage Loans and a fantastic range of Pawn Loans. No matter what you need the money for, make us your first choice the next time you need finance.

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.

Can I Get A Personal Loan As A Student?

By | Personal Loan

Students need money just like everyone else. Money for study, living expenses, travel and more. As a student, if you are struggling for cash flow to pay for your course, or simply just to survive, where can you get some extra cash to see you through?

Aside from finding a part-time job, another option would be a small personal loan. Can you get a personal loan when you’re a student though, and even if you can, are their restrictions on what the money can be used for?

In this post, you’ll discover what your options are regarding personal loans and whether it’s a practical solution for your circumstances.

Personal Loan & Education

Anyone looking to undertake any form of study will need money to pay for their tuition and other related expenses. Often the need to borrow money and education go hand in hand, which is why schemes such as the HECS scheme exist for university students.

Lending institutions will often have specialised personal loans designed for people seeking further education and training. Private lenders are one sector of the finance industry that has really stepped up to the plate to help people out with personal loans for furthering their training goals.

If you’ve been asking the question, ‘can I use a personal loan for education?’, with a personal loan from a private lender you most definitely can. Lenders will vary in what they offer, but many have options for education loans, as well as general personal loans and even pawn loans.

You have options as a student when you shop for loans in the private lending sector.

Are There Restrictions On What You Can Use the Money For?

Once again, this can vary depending on which lender you apply for a loan with, but as a general rule, there are many ways to use personal loans. Even loans that are designed for educational purposes and pursuits will allow you to spend the cash on whatever you need. All you have to do is honour the terms and conditions of the loan and pay it back in full over the determined length of time.

So, what can you use a personal loan for?

Let’s quickly list some possibilities:

  • Paying your course/education fees
  • Buying a laptop
  • Purchasing textbooks
  • Course-related materials
  • Travelling expenses
  • Living expenses
  • And more…

As you can see, there is loads of flexibility attached to an education personal loan. You are not very restricted in using the money for whatever you require.

What About Loan Eligibility? Is There Strict Criteria?

In order to apply for a personal loan of this type, you need to have some form of employment. If you’re a student, you’re not expected to be working full time in order to apply. A part-time job is fine. So long as you earn enough and have enough money left over after expenses to be able to repay the loan, you should be fine to apply and likely be approved.

You will need to be 18 and above to apply for finance and you must also be an Australian citizen or permanent resident. Along with this criteria, so long as you can prove your ID, you’ll be good to go.

How Much Can You Borrow?

One really positive aspect of seeking loans from private lenders is they’ll allow you to borrow amounts much smaller than the minimums the banks offer. Generally speaking, if you got a personal loan from a bank, it’ll be at least $5,000 and upwards.

On the other hand, private lenders tend to start their minimum loan amounts in the hundreds of dollars and usually you can borrow as much as $5k-$15k, depending on the lender.

For many students, just $1,000 might be enough money to make a huge difference. There’s no point borrowing way more than you need, as you’ll only have more to pay back more, including extra interest.

Personal loans are unsecured loans, so there’s no need for any collateral to apply for one.

The Wrap

Cashify Loans offers some of the best terms on personal loans in the business for students. With transparent and simple terms and conditions, combined with low-interest rates, make Cashify your first choice when shopping for a personal loan for education.

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.