Payday Loans in Brisbane

Thanks to tourism and a boom in the white-collar and blue-collar industries, Brisbane currently boasts one of the highest average incomes per household in Australia. Even so, out of the three million people in Australia's most populous city, thousands still struggle to make ends meet between paydays.

There are a number of options available to people who are having trouble financially, but for those people who happened to be hit with an unexpected expense and ran short before payday, a payday loan is a popular option.

Payday loans can be straightforward to secure: applying for one requires practically no paperwork. People can almost always apply online and funds are made available hours after approval.

If someone struggles regularly between paydays, or thinks that they will have any trouble repaying a payday loan, they should reconsider submitting an application as payday loans can fast track people into debt spirals.

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Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.

• Loan Amount: $2,000
• Loan Term: 9-14 weeks
• Turnaround Time: 30 minutes - conditions apply
• Fees: 20% of loan amount + 4% of loan amount each month
• Bad credit borrowers OK
• Quick & easy Approval

• Bad credit applicants considered
• Fast approval service
• Borrow up to $2,000

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Compare a range of payday loans

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Name	Product	Maximum loan amount	Term of Loan	Turnaround time	Arrears Fee	Costs	Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans		$2,000	9-14 weeks	30 minutes - conditions apply	$35	20% of loan amount + 4% of loan amount each month	$396	A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.	Go to site More Info	Compare	loading Fetching your data...
Nimble Short Term Loan		$2,000	62 days to 9 months	1 hour - conditions apply	$15	20% of loan amount + 4% of loan amount each month	$372	A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.	Go to site More Info	Compare	loading Fetching your data...
Safe Financial Small Loan		$5,000	22 - 52 weeks	Same day - conditions apply	$35	Up to $2,000 - 20% establishment fee + 4% monthly. Above $2,000 - $400 + loan management fee of up to $399 + from 8.7% to 48% APR	$396	Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.	Go to site More Info	Compare	loading Fetching your data...
Fair Go Finance Small Loan		$2,000	3-12 months	1 business day	$35	Establishment fee 20% of loan amount + monthly fee 4%	$354	A small loan between $500 and $2,000 that can be funded in 24 hours.	Go to site More Info	Compare	loading Fetching your data...

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How do payday loan providers in Brisbane work?

Most providers in Brisbane allow online applications, which means little to zero paperwork for applicants. A few personal details will be required as well as information about the applicant's income, expenses and employment. Applications are processed and funded usually within 24 hours. If someone has the means to repay the loan, their application is usually considered.

Brisbane providers will lend up to $2,000 as long as applicants meet the criteria. Some go even as high as $5,000. As for the cost, for a loan up to $2,000 customers will usually pay a 20% establishment fee and a 4% monthly fee, as payday loans are subject to an ASIC cap. There is, however, no cap on late payment or default fees. Loans over $2,000 will have higher fees and charges, capped at a $400 establishment fee and 48% p.a. interest (this includes all other fees and charges).

Information about how to compare payday loans

How to compare short term loan lenders available in Brisbane

There are a number of factors that prospective applicants in Brisbane can look at prior to submitting a payday loan application. Applicants will need to know just how much money they will need, and how much they can afford to repay before they can compare lenders effectively. They will also need to compare the eligibility criteria which will differ somewhat between lenders, to ensure that they meet all of the necessary criteria.

In general, payday loan providers have minimal requirements for approval, though the price for the guarantee of quick cash is high fees, high interest and high repayments within a short period of time. The applicant has to consider these terms seriously when deciding how much to borrow. Once the applicant has decided how much they need and what they can afford to repay, they can compare lenders using the following:

• The loan amount. Customers can compare lenders by how much they are able to lend and whether this meets the applicant's needs. Prospective applicants should keep in mind that they may not be eligible for the full amount.
• Term of the loan. Payday loans are usually repaid in time with the successful applicants pay schedule. However, loan terms with payday loans vary from 16 days to one year. A shorter term loan will mean higher repayments, whereas a longer term loan will mean more cost over the life of the loan. What does each lender offer?
• Turnaround time. How quickly a successful applicant may be able to receive their funds from each lender, and whether this meets their needs.
• Fees and charges. While most payday lenders charge a 20% establishment fee and 4% monthly fees, there may be some lenders who charge less (please note that lenders who charge more are in breach of ASIC's regulations). Also note late payment, default, and any other fees that may come attached to the loan.

What areas in Brisbane are Payday Loans available?

Payday loan providers generally have a strong online presence, but people can find provider offices almost anywhere in the greater Brisbane area.

• Inner-city precincts South Bank and Fortitude Valley are considered the fashion, entertainment and social hubs.
• Brisbane's suburbs Include the chic Ascot and Hamilton, West End with its classic and vintage overtones, Roma Street Parkland with its iconic park and Bayside with its foreshores of Shorncliff, Wynnum and Manly.

What are the pros and cons to weigh up?

Questions to ask before borrowing

• How much should I borrow?

  Just because providers are willing to lend the maximum for which an applicant is eligible, doesn't mean that the maximum amount should be borrowed. Applicants should work out what their ongoing repayments will be before they borrow and make sure they are affordable.

• When will my loan be funded?

  While most lenders can get an approved loan to the successful applicant on the day that they apply, others may take longer or even shorter. Some lenders may also offer a same-day service, but apply an extra charge for this service. Applicants should ask when it is that they should expect their loan and ensure that they are aware of any costs attached.

• What happens if I can't make repayments?

  If borrowers can't make repayments, providers propose certain solutions like extending the term of the contract with reduced payments or delaying payment for a certain time. However, the provider can take action if the borrower is found to be in breach of the credit contract. High late payment and default fees may also apply, as they are not subject to an ASIC cap.