Loans from $100 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 $100 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||$100|
|Max. Loan Amount||$2,000|
|Loan Term||4-6 weeks|
|Turnaround Time||Same day - conditions apply|
|Total Cost of Borrowing $100||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|
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 $100 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.