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Cash Loans Wollongong

Can you get a cash payday loan in Wollongong? Read on to find the answer.

Just a stone’s throw from the hustle and bustle of Sydney, Wollongong is viewed by many as a beachfront escape. However, you may find yourself in Wollongong on the wrong side of the due date on an unexpected bill, or unable to pay for a sudden expense.

If you find yourself in a situation where you are considering a short term loan in Wollongong, this guide is for you.

How do short term loans work in Wollongong?

You can apply for a short term loan in Wollongong at a storefront lender or online, depending on what suits your situation. Online lenders can approve you in minutes and have the money transferred to you in 24 hours, while storefront lenders can offer one-hour turnaround for cash-in-hand. However, there might be fewer store-front lenders to choose from in Wollongong due to the size of the city.

Short term loans are usually between $100 and $2,000 and repayment terms can vary from one or two months up to a year. While you may be able to borrow up to $5,000 with some lenders, you will pay a higher cost. Find out more about fees and rates below.

Cash loans available in Wollongong that you can compare today

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Centrelink borrowers considered
  • Fast approval service
  • Borrow up to $2,000
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100% confidential application

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
  • Fees: 20% of borrowed amount + 4% of borrowed amount each month
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks - Must be employed
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Rates last updated October 24th, 2017
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $1,500 Product Description
Sunshine Short Term Loans
$2,000
9 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
$396
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
Nimble Short Term Loan
$2,000
62 days to 1 year
1 hour - conditions apply*
20% of loan amount + 4% of loan amount each month
$396
Apply for a short term loan and you could borrow up to $2,000
Ferratum Cash Loans
$1,900
up to 6 months
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
$396
A small loan from Ferratum lets you borrow up to $1,900 without a credit check
Cash Train Loans
$2,000
10 weeks or 3 months
1 Business Day
20% of principal amount (establishment fee) + 4% monthly charge
$396
Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application
Spot Loans Personal Loans
$3,000
16 weeks to 1 year
Overnight
Varies depending on credit history and total loan amount
If you earn $450 p/w and are not bankrupt you may be eligible to apply for a loan

Compare up to 4 providers

Swoosh Finance

Swoosh Finance

from

48.00 % p.a.

variable rate

from

66.04 % p.a.

comparison rate

  • Borrow up to $4,600
  • Loan term up to 2 years.
  • Instant online decision
Security Logo

100% confidential application

Swoosh Finance

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
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Rates last updated October 24th, 2017
Name Product Product Description Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $5,000
Swoosh Finance
A secured loan you can apply for in 10 minutes that gives you up to 12 months to repay. Note: Max loan amount $4,600. Fees and charges included in repayment.
$4,600
12-24 months
Next Business Day
$400 + 48% APR of borrowed amount
$244
Nimble Medium Loan
Apply for up to $5,000 and get approved in 1 hour - conditions apply.
$5,000
Up to 2 years
1 hour - conditions apply*
Application fee of $400 + 47.62% APR
$262.75
Credit24 Medium Term Loan (Good Credit)
Quick turnaround time for borrowers with good credit and who are not on benefits. Must be employed.
$6,500
12-24 months
Same day
$400 establishment fee + 4% monthly interest
$263.18
Cash Converters Medium Personal Loan
Apply for up to $4,600 and receive approved funds in your account in two business days.
$4,600
Up to 12 months
Next business day
$400 (establishment fee; financed under loan) + 48% p.a. interest
$243.88

Compare up to 4 providers

How to compare your loan options

There are many ways to compare lenders, but here are a few key things to keep your eye on while looking around for a payday loan.

  • Fees. Lenders offering loans of less than $2,000 will not charge an establishment fee of more than 20% or a monthly fee of more than 4%. There is no interest attached to these loans and this is the maximum fee you will be charged. Compare your options as you might find a competitive loan.
  • Interest rates. Loans below $2,000 do not come with interest rates. If you apply for a loan above this amount you will be charged a rate of up to 48% p.a., as well as certain fees, depending on how much you borrow.
  • Repayment terms. How long do you need to pay off your loan? Keep in mind the longer you take to pay it back the more you will be charged, but the more manageable the repayments may be. Use a payday loan calculator to determine your repayments.
  • Amount you need to borrow. Make sure the lender you choose offers the loan amount you need. Also, some lenders offer a lower borrowing amount to first-time borrowers, so be sure to check this before you apply.

Benefits and drawbacks of a payday loan

There are many benefits and drawbacks to getting a payday loan:

Benefits

  • Quick access to money. Some lenders offer same day turnaround once your loan has been approved.
  • Flexible repayment terms. Lenders offer flexible repayment options and the majority allow you to repay your loan early.
  • Flexible loan criteria. Depending on the lender you opt for, you may still be considered for a loan even if you have bad credit or if you’re on Centrelink payments. It usually comes down to your ability to afford the loan.

Drawbacks

  • High cost. Short term loans come with a notoriously high cost so this is something to keep in mind before you apply.
  • Repayment issues. If you’re having loan repayment issues, you may be charged high late fees which can add on to the cost of your loan and make repayment even more difficult. Make sure you consider your ability to afford the loan.

Areas of the Wollongong area you can get a payday loan

With access to the Internet, you can get access to a whole variety of online lenders that may be willing to overlook your bad credit history in order to get you the money you need. You may be able to get loans from lenders in the Wollongong CBD, Warrawong, Figtree, Mangerton, Tarrawanna, Corrimal and Albion Park Rail.

Questions to ask before applying for a payday loan

There are a few questions you should ask yourself before applying for a payday loan:

  • Can I afford the repayments? This is vital to consider because not making repayments on time will negatively affect your credit history.
  • What are the loan terms? How long do you need the loan for? This is important to know before going into a lender.
  • Will they check my credit history? If you’ve got a bad credit history, it’s good to know which lenders will accept your payday loan claim. Every time you apply for a loan it affects your credit history so you need to make sure you only apply for a loan you are eligible for.

Once you’ve asked these important questions and figured out the answers, you’re well on your way to getting that payday loan you need.

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