Mobile Money Loans

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If you’re looking for a quick loan in or around Newcastle, here’s what Mobile Money has to offer.

Mobile Money began operations in 1994 and today offers short-term loans secured against different kinds of movable goods. The business came when its managing director lost his home for failing to make his mortgage payments on time due to a major accident. This was despite the fact that he had assets that he was willing to pawn.


Maximum loan amount

How do Mobile Money cash loan work?

You can borrow from $300 to over $50,000 through a Mobile Money loan. If you’re not sure how much you can borrow against any particular item, a Mobile Money representative can visit your home or workplace to give you a valuation. This does not cost you any money.

You can borrow up to 70% of your item’s value. To begin the process you can submit an online enquiry and a Mobile Money representative will contact you soon after. Once you complete the application process, Mobile Money can approve your application in as little as 15 minutes.

You can receive your cash through a direct deposit or a representative can drive you to a local bank to receive a cheque. While the typical loan term of Mobile Money cash loans is one day to three months, you can get an extension.

Features of a loan from Mobile Money

  • Apply with bad credit. Getting a cash loan if you have negative marks on your credit file can be a challenge. This is not the case with Mobile Money. As the loan is secured against an asset you can be considered with bad credit.
  • Provide security in different ways. Mobile Money lets you borrow against items such as cars, motorcycles, boats, trucks, caravans, trailers, horse floats and even aeroplanes. You can also get a loan against legal claims, property settlements and wills.
  • Transporting unregistered vehicles. If you have an unregistered vehicle, Mobile Money can arrange for its transportation. If the vehicle is drivable, it can use trader's plates that allow it to move unregistered vehicles to its premises.
  • Security. Since it began operations, Mobile Money has not reported a single incident of a lost or stolen item. As many as nine security cameras work round-the-clock to monitor its premises. It makes use of laser beams and base alarms for added safety. It also has complete insurance cover against damage, fire and theft.

Fees and charges to consider

Upon the approval of your loan application, Mobile Money presents you with a loan contract. It’s important that you go through the contract carefully. This is because it gives you a clear indication of the interest the loan will attract as well as all applicable fees and charges you may have to pay during the course of the loan. For example, if you make a late payment, you will incur a late charge.

If you think that the cost of the loan is too high for your budget, you don’t have to accept the loan contract. If you choose to repay the loan ahead of time, you don’t have to pay any additional fees or penalties.

Are you eligible for a Mobile Money Loans?

If you, as a prospective borrower, have assets to pawn, you can get a loan through Mobile Money. You can also pawn goods that belong to third parties, provided you have written permission from the owner. You can use a vehicle on which you still owe money as collateral, provided the desired loan amount is less than the valuation.

How you can apply

You can initiate the process by submitting an online enquiry. Completing the application successfully requires that you provide some basic information:

  • Your name, residential address, email address and phone number
  • Documents to prove your identity, such as your driver’s license, passport or state ID
  • Proof of ownership of the item you wish to use as collateral (registration papers or purchase receipts)
  • If using a third-party item, written permission from its owner
Mobile Money can process your application quickly and you can usually receive approval within 15 minutes. Once you accept the loan contract, you can get a cheque almost immediately. Getting Mobile Money to transfer the funds into your bank account is also an option.

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  1. Default Gravatar
    July 29, 2018

    Can I loan against a third party compo claim?

    • AvatarStaff
      August 4, 2018

      Hi Ben,

      Thank you for getting in touch with finder.

      I am afraid that the third-party compo would not be accepted. As per this page, if using a third-party item, written permission from its owner – that is just for a mobile items while the compo claim is a proof of someone’s income.

      Mobile Money lend up to 70% of the value of mobile goods such as cars, boats, trucks, motorcycles, trailers, plant machinery or anything else of value. They can also arrange loans against property settlements, wills, legal claims and legal settlements.

      To know more about applying for a loan with Mobile Money, I suggest that you visit their website or call them directly. Their experienced and professional staff will be pleased to explain in detail any queries you might have regarding their loans and policies.

      You may also want to read more on getting a loan on compo by checking out this page.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!


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