Loans from $50 that can cover you when you need it most.
If you need a loan to cover small expenses, you might want to consider the Cash Advance from Cash Converters. Head in-store and you can borrow as little as $50 and repay it in the short term, so you're covered for just as long as you need to be and for just as much as you needed to borrow. If you're caught short before payday, or if you need a small bit of extra cash for expenses that crop up, this may be a viable option.
| Product Name | Cash Converters Cash Advance Loan |
|---|---|
| Min Loan Amount | $50 |
| Max. Loan Amount | $2,000 |
| Loan Term | 4-6 weeks |
| Loan Security | Unsecured |
| Turnaround Time | Same day - conditions apply |
| Costs | 20% of loan amount (establishment fee) + 4% of loan amount each month |
| Requirements | You must be over 18 and residing in Australia. |
| Available to Centrelink borrowers | Yes |
Pros
- Low loan amount as $50
- Easy application
Cons
- 20% establishment fee
- 4% monthly fee
- 18 years over
- Residing in Australia
What you need to know about a Cash Advance from Cash Converters
This is a small amount loan, with the maximum that can be borrowed standing at $2,000, that is designed to be paid back in the short term. The eligibility for the loan is quite flexible, with non-Australian residents able to apply, as well as those receiving Centrelink benefits or with bad credit. You can see more details about the eligibility criteria on the page below.
Features of a Cash Advance loan
- Repayment terms. The Cash Advance Loan has a standard repayment term of 6 week(s), and your repayments will be laid out in your loan contract.
- Loan amounts. The amount you're actually approved for depends on your financial situation, but loan amounts between $50 and $2,000 available.
- Turnaround time. Applying shouldn't take longer than five minutes, and if you're approved your loan will be processed on the same day.
- Easy application. You can apply for this loan online, and if you're approved you'll be able to sign your loan contract electronically.
Comparison of Payday Loans
Whilst we don't compare loans from Cash Converters directly, use the tables below to see how they compare against other short term loans
Are you eligible for this Cash Advance?
The eligibility criteria is quite flexible for this loan, but each application is handled on a case-by-case basis. It's important to note that your application will be reviewed by someone from Cash Converters who will determine if you are able to manage and repay your loan. You'll only be offered a loan that is suited to your needs, finances and budget. The minimum eligibility requirements are as follows:
- Age. You need to be over the age of 18.
- Residency. You must be an Australian resident but non-residents can apply in-store.
- Credit history. You can apply if you have bad credit.
- Borrowers under debt agreements. If you are currently in a Part 9 Debt Agreement you are ineligible, but if you have been successfully discharged from a Part 9 Debt Agreement your application will be considered
- Centrelink borrowers. You can receive Centrelink payments, but your total debt can't exceed 20% of your Centrelink income. Total debt includes loans from other lenders.
How you can apply
Once you've compared your option and if you've decided if this is the right loan for you, just click the "Go to Site" button to get started. Make sure you have the following documents on hand to ensure you can complete the application:
- 90 days worth of your bank statements from the account where your income is deposited into
- Your Medicare card number
- A current income statement if you are on Centrelink payments
The application should take about five minutes to complete, and if you are approved, your loan should be processed on the same day. The time it takes for you to receive your loan depends on who you bank with, but you can generally receive your loan within 24 hours.
I get 400 a fortnight from centrelink it goes up 40 dollars in June. Also I work at a mechanics shop and its cash in hand so can I get a loan between 150-200?
Hi Ethan,
Thank you for your inquiry.
You can actually borrow from Cash Converters if you are a Centrelink recipient, however, your loan should not exceed 20% of your Centrelink income. If you wish to discuss your options, the amount you can borrow and eligibility with Cash Converters, please contact them directly.
Meantime, if you want to check your loan options with other lenders besides Cash Converters, please refer to this page.
Hope this helps.
Cheers,
May
What is involved when using a car as collateral?
Hi Shane,
Thanks for your question.
If you are applying for a personal loan with your car as collateral, its value will be assessed by the lender and then used as security. Depending on the lender, certain documents pertaining to your car may be required from you.
You can check this page for lenders that offer secured personal loans.
Cheers,
Anndy
I’m currently getting $600.47 a fortnight on youth allowance is that enough for a $2000 loan
Hello Skeff,
Thanks for your question.
The criteria is quite flexible for this loan, but each application is handled on a case-by-case basis. It’s important to note that your application will be reviewed by someone from Cash Converters who will determine if you are able to manage and repay your loan. You’ll only be offered a loan that is suited to your needs, finances and budget. The minimum eligibility requirements are as follows:
- Age. You need to be over the age of 18.
- Residency. You must be an Australian resident but non-residents can apply in-store.
- Credit history. You can apply if you have bad credit.
- Borrowers under debt agreements. If you are currently in a Part 9 Debt Agreement you are ineligible, but if you have been successfully discharged from a Part 9 Debt Agreement your application will be considered
- Centrelink borrowers. You can receive Centrelink payments, but your total debt can’t exceed 20% of your Centrelink income. Total debt includes loans from other lenders.
I hope that helps.
Cheers,
Harold
can you send me the link to apply for cash advance cash converters plz
I get $550 a fortnight from centerlink, am I eligible for a $250-$300 loan over 2-6 months
Hi David,
Thanks for your question.
Cash Converters Cash Advance Loan is available to Centrelink pensioners, but your total debt should not exceed 20% of your Centrelink income. Total debt includes loans from other lenders. So for a monthly Centrelink income of $1,100, the total debt should not exceed $220.
If you want to compare other lenders that consider Centrelink pensioners for a loan, you can check your options here.
Cheers,
Anndy
Hi,
You can apply at a Cash Converters store or on its website here.
Hope this helps,
Elizabeth
Are you also offering loan globally like in the philippines
Hi Alaina,
As a financial comparison service we don’t offer the loans ourselves, but we also don’t offer a loan comparison in the Philippines currently.
Sorry I couldn’t be of more assistance,
Elizabeth
Can I have a personal loan and cash advance
Can l get a loan. IDs only medicare card,birth certificate, pension card, centrelink pension card, l got no drivers licence. I only have $199.00 in my bank, all my bills taken out
Hi Ursula,
You are able to apply for a loan if you meet the eligibility criteria outlined above. You’ll need your Medicare card plus one form of ID (passport or birth certificate if you have no driver’s licence). Keep in mind the last three months of your bank statements will be reviewed as part of the application process to ensure you can manage the loan.
I hope this helps,
Elizabeth
Hi Shane,
Cash Converters may let you take out a personal loan or cash advance if you already have one of these loans and are currently repaying it, but they have tight restrictions surrounding this. You can contact Cash Converters directly to discuss your eligibility.
I hope this helps,
Elizabeth
I have a personal loan already and paying it of but was hoping to get a top up on my current loan, is that possible.
Hi Quiyara,
Cash Converters places strict restrictions on when you can be approved for a loan if you already have a loan outstanding. If you applied for a loan in-store you’ll need to head back into that same store to discuss your account with them, or if you applied online you can contact Cash Converters directly.
Hope this helps,
Elizabeth
How can I contact someone about a top up on a loan.
Hi Quiyara,
I’ve emailed you some contact details.
Hope this helps,
Elizabeth
Can l get one or more cash advance at a time. Even if l haven’t finish the first one.
Hi Katherine,
Thanks for your comment. It’s generally not good practice to take out more than one short-term loan at a time. Lenders will assess your application based on your income and affordability of your repayments.
It might be best to talk to Cash Converters directly.
Hope this helps
Cheers
Matt
I’m currently on Newstart looking for a job but also earn cash in hand. Is there a loan out there that will lend me 3000 dollars for debt consolidation (overdraft payment)?
Hi Duc,
I can’t recommend a specific lender to you but you can find a list of lenders offering larger loans (over $2,000) on this page. You can find eligibility criteria listed on each finder.com.au review page and also on the lender’s website. You can also have a read of this guide to find more details on options for borrowers who receive Centrelink payments.
Hope this helps,
Elizabeth
I’m Currently at centerlink I would like to loan $2000 due to my emergency needs how can I make a loan and it’s my first time ever to get a loan if ever I will be approve when is my first payment start?
Hi Bhea,
Cash Converters will consider you for a loan if you meet the minimum eligibility criteria, which is outlined on the page above. If you would like to apply for a loan you can do so on the Cash Converters website. Once your supporting documents are received Cash Converters will update you via SMS about your application. You will then receive a loan contract which outlines your payments.
Hope this helps,
Elizabeth