Want $10,000 in your account by the end of the day? This is what you need to do.
No matter what your credit history is like, and no matter what you need the money for – you can apply for and be approved for a $10,000 loan. There are lenders who offer these loans for people with adverse credit histories, as well as traditional lenders such as banks who offer $10,000 loans for personal and business purposes. Jump ahead to find out who might approve you >> .
How to take out a $10,000 loan today
If you’re looking for a $10,000 loan, there are lenders who offer a one-day turnaround time. This means that if you apply for a loan and it’s processed by a certain time, you can have the approved loan amount in your account on that same day. Applicants with bad credit can access these loans through non-traditional lenders, while those in better credit standing may be able to apply with their own bank for quick approval. You can find out more about some of these options below, as well as compare and apply. You can also compare bad credit loans up to $5,000 here.
Your short-term loan options
We're working hard to get you a range of bad credit loans for you to borrow up to $10,000. If you still need to borrow – it could be worthwhile comparing the loans below.
- Borrow up to $4,600
- Loan term up to 2 years.
- Instant online decision
100% confidential application
Swoosh Finance offer Fast, reliable, and hassle-free secured loans up to $4,600 for when you are in need of money
- Loan amount: $4,600
- Loan term: 12-24 months
- Turnaround time: Next business day
- Fees: $400 + 48% APR of borrowed amount
What are your loan options if you want to borrow $10,000?
Bad credit or good credit, there are options available to you if you need to borrow a large amount of money. Loans up to $10,000 are available from both traditional and nontraditional lenders and can come in a variety of forms—secured, unsecured, short term, long term, or business loans. The first step to taking out a loan is understanding your options.
If you have bad credit
There are brands who offer loans up to $10,000 for people with bad credit. There are usually certain requirements you’ll need to meet and you may be required to secure the loan with an asset. Some lenders may also allow you to submit a joint application if you don’t meet the criteria, so find out about all the options you have to help your chances of being approved. The interest rate on these loans is usually set on an individual basis.
If you have good credit
You’ll most probably have more options available to you if you’re looking at borrowing $10,000 and you have good credit. You’ll likely be able to apply with a traditional lender such as a bank, and also enjoy lower rates and fees than if it were a bad credit loan. You may also find that your current bank offers same-day funding to existing customers. Depending on your income and other financial circumstances, you may be eligible for a secured or unsecured loan.
If you’re willing to secure your loan
Securing your loan with an asset may open up more loan options to you. Secured loans are less risky for lenders as they will be guaranteed to recoup their losses should you default on the loan. Because of this, these loans come with lending criteria that are more flexible than if the loan was unsecured. Typical assets used to secure a loan include a vehicle or equity in a property, but some lenders also allow for other things such as jewellery.
If it’s for a business
A $10,000 loan taken out for business purposes is very different to one taken out for personal use. Business loans usually come with higher maximum loan amounts, with some lenders able to approve loans of up to $500,000. These loans are generally available to both established businesses and startups.
Brands you can consider for a bad credit loan up to $10,000
|Lender||Loan amount||Repayments||Criteria||Find out about products|
|Max Finance||$1,600 and $10,000||Maximum repayment term of one year.||You can apply if you have bad credit but you'll need to own an asset, such as a house or a car, and also meet certain income requirements.|
|MoneyMe||$200 to $15,000||Repayment terms of between one month and 3 year(s) are available depending on how much you borrow.||You'll need to be over 18, an Australian resident and be currently employed. A good credit history will help your application.|
|enably||$200 to $10,000||Repayment terms up to 2 years.||You need to be employed and earn more than $1,500 per month.||More|
|Fair Go Finance||$2,250 to $10,000||Loan terms up to 3 months||You'll need to be earning at least $500 a week and be 18 years old, a permanent Australian resident and in regular paid employment.|
Calculate how much your repayments will be on a $10,000 loan
When borrowing a large amount of money, it's important to know whether or not you can afford the repayments. Use our handy calculator below to help.
If you have a few loan options, here’s how to compare them
When considering what loan to apply for, it’s important to compare features of the loan to make sure you apply for a competitive option. Here are some things to look at:
- Fees. What fees will you be charged with this loan? Remember to consider the ongoing fees as well as any charges you will have to pay at the onset.
- Turnaround time. The time it takes to get your loan approved and for it to arrive into your bank account will differ between lenders. Make sure the lender you apply with can get your loan amount to you when you need it.
- Repayments. How can you repay your loan? Are you able to repay the loan early without penalty? These are things you’ll need to check before you apply.
Tips on being approved if you have bad credit
- Review the eligibility criteria. Do this before you apply to make sure you are eligible. Look for things like minimum income, employment requirements, etc.
- Submit all necessary documents. Check what documents are needed and make sure you are able to send everything that is required.
- Consider a joint application or guarantor. This can help get your application across the line.