Get a quick financing for up to $2,000 to help you with any cash shortfall.
Lenders offer loans of up to $2,000 for a range of purposes including car repairs, hospital bills, or even to get through a difficult few weeks. If any of these situations apply to you, a small personal loan might be an option to consider. If you are over the age of 18 and have a regular source of income you may find a lender who will consider you for a loan of up to $2,000 – you can read our guide below to find out more about your financing options.
Sunshine Short Term Offer
This is a short term loan offer with a fast and easy online application for bad credit borrowers who are employed. You can apply today to get approved for up to $2,000.
- Loan Amount: $2,000
- Loan Term: 9 weeks
- Turnaround Time: 30 Minutes - conditions apply
- Total Cost of Borrowing $100: 20% of borrowed amount + 4% of borrowed amount each month
- Bad credit borrowers OK
- Quick and easy Approval
- No Credit Checks - Must be employed
Warning about Borrowing
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Are you eligible for a $2,000 loan?
Eligibility criteria differ between lenders, but you can generally get a loan if you meet the following:
- Age. You need to be over 18.
- Employment. Some lenders require you to be employed, but you may find a lender that will consider you if you are unemployed. Casual and part-time workers can also be eligible for loans.
- Income. You need to be earning some sort of income to be eligible for a loan. Some lenders may have a minimum of how much you need to earn, but others just need to see history of your payments over the previous three months.
- Centrelink. If you receive Centrelink payments you can still be eligible for a loan. Keep in mind there may be restrictions you need to meet, such as your loan repayments not exceeding more than 50% of your Centrelink income.
- Credit history. Those with bad credit can still be eligible for a loan, even if you are a discharged or current bankrupt.
What are your options to get $2,000 today?
An ideal starting point when looking for a personal loan could be to search through the options you have available to you. These loan options can be secured or unsecured in nature, with secured loans requiring you to provide some form of collateral. Below are details about some of your loan options.
- Secured personal loans. Some small lenders allow you to secure your loan in order to get a lower interest rate. Providers can also include pawn shops.
- Payday loans. These are the most common type of $2,000 loans. With a payday loan, also called a short term loan, you'll have between 16 days and one year to repay what you borrow.
- Loans with no credit check. If you're concerned about your credit history holding you back, you can apply with a lender that doesn't conduct a credit check.
- Cash advance loans. A typical cash advance loan can allow you to borrow as little as $100 and up to $2,000. This loan type does not require any security, and you have the repay the entire amount within a period of 16 days to six weeks.
What you need to know when comparing $2,000 loans
How you compare your options largely depends on whether you're applying for a payday loan or $2,000 standard personal loan. Below, we've broken down what you need to know when comparing your options for both types of loan:
- What is the interest rate?
Interest rates for personal loans can vary significantly from one type to another. If you are considering a payday loan, lenders don't charge interest but rather charge fees, of which they are restricted. They cannot charge more than a 20% loan establishment fee 4% monthly fee. For standard bank and credit union personal loans, it depends whether the loan is unsecured or secured. It's always best to compare to know whether the rate is competitive.
- What is the term of the loan?
For payday loans, loan terms cannot be less than 16 days, but they can extend anywhere up to one year. Other personal loans have terms between one and five years for fixed rate loans and one and seven years for variable rate loans.
- What are the fees and charges?
As mentioned, payday lenders cannot charge more than a 20% establishment fee and a 4% monthly fee. Other personal loan lenders may charge you other establishment fees or monthly fees. Both types of lenders can charge you late and missed payment fees and default fees, so if you think you'll have any problems repaying your loan its best to reconsider applying.
- Is there repayment flexibility?
Lenders that offer small loans, like $2,000 loans, normally require that you set up direct debits either from your salary or through a bank account in order to make repayments.You can generally repay the loan early without penalty with these loans, as is the case with variable rate personal loans. Fixed rate loans, on the other hand, may come with an early repayment penalty.
- What is the reputation of the lender?
Given that the Internet has given rise to a number of online lenders, finding out a little about the lender in question can be a good place to start before you apply. Before applying, make sure you go through the terms and conditions of any loan offering very carefully, and don’t hesitate in comparing the experiences other borrowers with lenders on your shortlist.
How to increase your chances of being of approved
While there is no definite way to make sure that a lender approves your loan application, it’s could help your application to keep the following in mind:
- Establish eligibility criteria
On each finder.com.au loan review page you'll find a list of eligibility criteria that you need to meet in order to be approved for the loan, so take some time to go through these before applying. If you have doubts about any aspect, you can always call the lender in question. Before you apply ensure that you meet the minimum income requirements and eligibility criteria.
- Go through your credit file
You can get a free copy of your credit file online, which might be a good idea to do before you apply. Having a good understanding of your credit history can put you in a better position to know what loans you can and can't apply for. While you might feel you know what your credit history looks like, your credit file might reflect otherwise. If you find any discrepancies, you can take measures to rectify mistakes.
- Limit your applications
Every time you apply for a loan it is listed on your credit file, and submitting more than one application at a time can negatively affect your credit score. As a result, compare your options before applying and don't apply for too many loans at once. If you need a cash advance without a credit check there are a range of companies you can apply with.
It's important that you have a fair idea of what your repayments will look like before you apply for your $2,000 loan. Once you know just how much you have to repay, take into account your existing salary and expenditure, and establish if you can afford to make the repayments.
You can use a loan calculator to find out how much you might have to repay weekly, fortnightly, or monthly. You'll need to input details such as your loan amount, which, in this case is $2,000, along with interest rate, loan term, and repayment frequency.
How much does it cost to borrow using a payday loan?
This calculator is designed to provide you with an estimate based on the numbers you enter. Your personal details are not taken into account and all calculations are based off the calculation model. This calculator is not intended to be the sole source of your information when making a decision regarding your loan, and this calculator also does not guarantee your eligibility. The calculator works off the following assumptions: fees do not change for the life, your lender will charge a 20% establishment fee and a monthly fee that is 4% of your principal loan amount. You may want to seek advice from a financial professional before signing up to a loan.
The good and the not-so-good of $2,000 payday loans
- The opportunity of flexible repayments
Flexible repayment options let you to line up your repayments in accordance to when you get paid. By making extra repayments, you can repay the loan ahead of time.
- Online presence simplifies the process
If a lender is online the entire process can be streamlined. You will usually be given multiple options during the application process to submit documents, information and track your application's progress.
- Bad credit applicants accepted
People who have bad credit can find it difficult to be approved for loans, but there are a multitude of $2,000 loan options available for those with bad credit.
- Higher fees
Payday loans attract higher fees due to the risk the lenders are taking on. It's important to consider whether you can afford the loan before you apply.
- Short loan terms and repayment schedules
Most cash advance and payday loans require that you repay the entire amount in between 16 days and six months, resulting in high repayments.
- Unscrupulous lenders
Some online lenders can be disreputable and set unfair terms, so it's important to do your research and apply for a loan with a reputable lender.
What to avoid
When you go looking for a $2,000 loan, bear in mind that it can come with associated risks:
- Avoid taking on more credit than you can handle and exercise caution throughout the loan process. ASIC has a warning in place for people who wish to take bad credit personal loans owing to their inflexibility and high fees.
- A short repayment period and high fees translate into high repayments, so think carefully before applying for a $2,000 loan.
- You can avoid high-interest rates by comparing multiple lenders. Remember that some short term lenders don’t display the comparison rate, which incorporates both the interest rate and fees.
Frequently asked questions
Given below are answers to commonly asked questions about $2,000 loans. If you have any other further questions, feel free to ask using the form at the end of this page.
How can I apply for a $2,000 loan?
Start by comparing your options, and once you find a loan you wish to apply for, simply click on the "Go to site" button.
What happens after I submit my application?
This varies depending on the loan you apply for. You should, in all likelihood, hear from the lender irrespective of whether it approves your application or not, and it, then, lets you know how to proceed.
If I’m unemployed, can I still get a $2,000 loan?
You still might be eligible for a loan if you are unemployed. Keep in mind that lenders will need to see evidence of your ability to repay the loan and manage repayments. To find out more about borrowing while unemployed, you can read our guide.
What details do I have to submit to get a personal loan?
To complete the application process you will have to provide personal details like your name, date of birth, driver’s licence number, residential address, phone number, and email address. You will also have to provide income and expense details, your employment details and your banking details.
What other amounts can I borrow?
If you are in need of another amount other than $2,000 then there are lenders who can help you out. If you need a smaller amount such as $1,000 then you can compare a range of providers here, while if you need an amount in the range of $5,000 you can start your comparisons here. If you have bad credit and need to borrow up to $10,000 then you may be able to apply with these lenders.