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Munibox is an online pawnbroker that provides short-term loans using non-real estate assets such as vehicles, boats, aircraft, trucks and farm machinery as security. Customers can borrow up to 70% of that asset’s value.
While Munibox is a secured lender, it doesn’t lend against property. No credit checks are performed, and defaulting on repayments won’t be reflected in a person's credit report.
Loan amounts start at a minimum of $5,000 with no maximum amount, and loans are available to business owners, pensioners and unemployed applicants, as long as they have storable assets against which they can borrow.
$2,000,000
Maximum loan amount
24 hours
Turnaround time
3 - 12 months
Term of loan
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Product Name | Munibox Fast Loans |
---|---|
Minimum loan amount | $5,000 |
Maximum loan amount | $2,000,000 |
Loan term | 3 - 12 months |
Turnaround time | 24 hours |
Costs | Varies upon the loan amount |
Requirements | Your must have a tangible and storable asset as security for the loan. |
Available to Centrelink Borrowers? | Yes |
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
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.
Munibox is a short term lender for secured loans. It allows their customers to borrow cash without the need for credit checks. In exchange, they have to store their valuable assets at a Munibox storage location until the funds (and any accumulated interest) from the loan have been repaid.
It should take 24 hours for a loan application with Munibox to be processed. Loan customers can then repay the loan any time after seven days, with interest rates varying depending on the loan amount and how quickly they settle it. If someone is still paying off the loan used to purchase a security asset, Munibox will reimburse the lender, giving the borrower clear ownership of the asset.
The maximum term is 365 days, during which borrowers can make staggered payments (which must be, at the least, equivalent to one month’s interest) or settle the balance in single payment.
During the loan period, an asset will be stored in Munibox’s storage facility until the borrower repays the loan in full. Munibox charges no fees, but if someone defaults on their payments, the asset will be sold at a public auction.
Here are some of the features of Munibox’s short-term loans.
Munibox charges no fees. If the borrower defaults on payments, their asset will be sold at a public auction.
Prospective borrowers can apply for a Munibox loan as long as their asset is registered with Australia’s Personal Property Securities Register (PPSR) and has an identifiable serial number. Munibox doesn’t run credit checks on applicants, nor does an application reflect on their credit report.
Applicants must meet the following criteria:
If you want to apply for a Munibox loan online, click “Go to Site” to get the process started. You’ll be asked to submit personal information and information about your asset. Your application and asset will be reviewed and, if approved, funds will be deposited within 24 hours.
Munibox will evaluate your asset and offer a loan of up to 70% of the total assessed value. You will be asked to provide photos of your asset, as well as a detailed description. The more detailed information you provide, the better and more accurate the evaluation.