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$2,000 loans

If you have bad credit you might still be eligible for a $2,000 loan, even if you are currently bankrupt.

⚠️ Warning about Borrowing

payday-warningDo 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:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

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.


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 $3,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $3,000
  • Loan Term: 12-20 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
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $3,000
Go to site More info
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
12-20 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $3,000 that you repay over 12-20 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Fundo Small Loan
13 to 26 weeks
Same day - conditions apply
20% of loan amount + 4% of loan amount each month
Borrow up to $2,000 and pay it off over 20 weeks. Same day approval for eligible borrowers.
Credit24 Short Term Loan
4 to 12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay. Centrelink borrowers are considered as long as Centrelink payments are not more than 50% of income.
Safe Financial Small Loan ($500 to $2000)
13 to 50 weeks
Same day - conditions apply
20% establishment fee + 4% monthly.
Borrow from $500 to $2,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
3 to 12 months
24 to 48 hours
Establishment Fee of $60 – $400
A small loan between $500 and $2,000 that can be funded in 24 hours.

$2,000 loans are small, short term loans that usually have repayment terms of 16-60 days (though some lenders may offer slightly longer terms up to 1 year). They can be used for a number of reasons, including car repairs, hospital bills or other last minute financial emergencies. Some $2,000 loans, known as "payday loans" are not long term financial solutions and should potentially be avoided where possible on account of their high fees, including the maximum establishment and monthly fees, as well as the highest interest rates and default/late payment fees as permitted by the Australian Securities and Investment Committee (ASIC).

$2,000 loan eligibility

To be accepted for a payday loan, borrowers are required to be over the age of 18 and have a regular source of income. On each loan review page you'll find a list of that lender's specific eligibility criteria - this criteria needs to be met by any applicant in order to be approved for the loan. Eligibility criteria differ between lenders, but you can generally get a loan if you meet the following:

$2,000 loan options

Anyone who is considering a loan ought to be aware of their options prior to submitting an application. This enables borrowers to compare the options available to them with all of the relevant knowledge to hand in order to minimise the risks that are involved with taking on debt.

  • Contact your bank. If you have good credit, some banks can provide same-day personal loans to their existing customers. You might also be able to request an overdraft facility on your transaction account.
  • Secured personal loans. Some small lenders allow you to secure your loan against an asset equal to or greater than the value of the loan. Securing a loan can often help borrowers to procure a lower interest rate and/or increase their chance of approval. Secured loans carry less risk for lenders, but borrowers are risking their property as the lender can repossess their items if the borrower cannot repay the loan in full.
  • Payday loans. These are the most common types of $2,000 loans. With a payday loan, also called a short term loan, customers will have between 16 days and one year to repay what they borrow.
  • Cash advance loans. A typical cash advance loan can allow you to borrow as little as $100 and up to $2,000. This loan type does not require any security, and you have the choice to repay the entire amount within a period of 16 days to six weeks.

Checklist for $2,000 loans

How you compare your options largely depends on whether you're applying for a payday loan or $2,000 standard personal loan. Below, we've broken down what you should know when comparing your options for both types of loan:

  • Go through your credit file.

    You can get a free copy of your credit file online. This can be beneficial for applicants who are unsure of their credit score. Having a good understanding of your credit history can put you in a better position to know what loans you can and can't apply for. It also gives applicants a chance to reveal any mistakes that might be on their record, or take some time to improve their score if necessary.

  • What is the interest rate?

    Interest rates for personal loans can vary significantly from one type to another. For standard bank and credit union personal loans, it depends whether the loan is unsecured or secured and on the borrower's financial situation and credit rating. It's always best to compare to know whether the rate is competitive.

  • What are the fees and charges?

    If you are considering a payday loan, lenders don't charge interest but rather charge fees, of which they are restricted. They cannot charge more than a 20% loan establishment fee 4% monthly fee. Other personal loan lenders may charge you other establishment fees or monthly fees. Both types of lenders can charge you late and missed payment fees and default fees.

  • What is the term of the loan?

    For payday loans, loan terms cannot be less than 16 days, but they can extend anywhere up to one year. Other personal loans have terms between one and five years for fixed rate loans and one and seven years for variable rate loans.

  • Is there repayment flexibility?

    Lenders that offer small loans, like $2,000 loans, normally require that you set up direct debits either from your salary or through a bank account in order to make repayments. You can generally repay the loan early without penalty with these loans, as is the case with variable rate personal loans. Fixed rate loans, on the other hand, may come with an early repayment penalty.

How much does it cost to borrow using a payday loan?

This calculator is designed to provide you with an estimate based on the numbers you enter. Your personal details are not taken into account and all calculations are based off the calculation model. This calculator is not intended to be the sole source of your information when making a decision regarding your loan, and this calculator also does not guarantee your eligibility. The calculator works off the following assumptions: fees do not change for the life, your lender will charge a 20% establishment fee and a monthly fee that is 4% of your principal loan amount. You may want to seek advice from a financial professional before signing up to a loan.

Pros and cons of $2,000 payday loans

  • The opportunity of flexible repayments
    Flexible repayment options let you to line up your repayments in accordance with when you get paid. By making extra repayments, you can repay the loan ahead of time (make sure that the loan that you apply for does not include early payment penalties before doing this).
  • Online presence simplifies the process
    If a lender is online the entire process can be streamlined. You will usually be given direction during the application process to help you through submitting documents and information and an option to track your application's progress.
  • Bad credit applicants accepted
    People who have bad credit can find it difficult to be approved for loans, but there are a number of $2,000 loan options available for those with bad credit.
  • Higher fees
    Payday loans attract higher fees due to the risk the lenders are taking on. Bad credit applicants can also expect to pay higher fees and potentially have to adhere to additional conditions in order to apply. It's important to consider whether you can afford the loan before submitting an application.
  • Short loan terms and repayment schedules
    Most cash advance and payday loans require that you repay the entire amount in between 16 days and six months, resulting in high repayments. However, opting for a longer term loan will mean that the overall cost over the life of the loan will be higher.
  • Unscrupulous lenders
    Some online lenders can be disreputable and set unfair terms, so it's important to do your research and apply for a loan with a reputable lender. Be wary of lenders that offer 'no credit check' loans, as it is a requirement that all responsible lenders ensure that applicants can reasonably repay, even if they accept those with poor credit histories.

What to avoid

When you go looking for a $2,000 loan, bear in mind that it can come with associated risks:

  • Taking on too much debt. Avoid taking on more credit than you can handle and exercise caution throughout the loan process. ASIC has a warning in place for people who wish to take bad credit personal loans owing to their inflexibility and high fees.
  • Submitting too many applications. All loan applications are listed on credit files, and submitting more than one application at a time can negatively affect your credit score.

Frequently asked questions about $2,000 loans

Given below are answers to commonly asked questions about $2,000 loans. If you have any further questions, feel free to ask using the form at the end of this page.

How can I apply for a $2,000 loan?

Start by comparing your options. Once you find a loan you wish to apply for, click on the "Go to site" button and follow the appropriate steps via the company's website.

What happens after I submit my application?

This will vary depending on the loan that you apply for. You should, in all likelihood, hear from the lender irrespective of whether they approve your application or not. If your application is successful, the lender will inform you of the following process.

If I'm unemployed, can I still get a $2,000 loan?

You still might be eligible for a loan if you are unemployed as there are a number of unemployed loan options. Keep in mind that lenders will need to see evidence of your ability to repay the loan and manage repayments, and will therefore require evidence of some form of income.

What details do I have to submit to get a personal loan?

To complete the application process you will have to provide personal details like your name, date of birth, driver's licence number, residential address, phone number, and email address. You will also have to provide income and expense details, your employment details and banking details.

Can I borrow more/less?

If you are in need of another amount other than $2,000 then there are a number of lenders that offer these services. Some lenders cater specifically to $1,000 loans, $2,000- $5,000 loans and $5,0000-$10,000 loans. Be aware that these lenders may require different criteria and offer different rates.

Written by

Elizabeth Barry

Elizabeth Barry is the lead editor for Finder. She has over 10 years' experience writing about a range of topics with a focus on personal finance. You’ll find her writing and commentary in a range of publications and media including Seven News, the ABC, MSN, the Irish Times and Singapore Business Review. See full profile

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4 Responses

    Default Gravatar
    JacobMay 21, 2017

    G’day I am just wondering how the establishment fee works does it get paid from cash in my pocket or is it extracted from the loan itself?, I was also wondering about the Per annum (being an annum is a year) if the loan is paid off before the year aka the annum is the per annum interest still applied) for example if the loan is $1,000 and the per annum interest is 10% after the annum the interest would make it $1,100 but if I pay it off before the annum ends is it till going to be $1,100?

      Default Gravatar
      LiezlMay 22, 2017

      Hi Jacob,

      The establishment or application fee is a one-off, upfront fee. These quick loans, it is usually added to the loan amount and repaid over the loan term. As this could vary from lender to lender, it would be best to check with the lender before applying for a loan.

      Generally, if you settle your loan earlier than the agreed term the annual interest will be charged proportionately, so it will be less than $100. However, this could not be true to all lending companies and usually depends on loan type. Also, lenders might charge early settlement fee, so it is worth computing the net benefit you’re getting from loan pre-termination.

      I hope this has helped.


    Default Gravatar
    DonnaNovember 16, 2015

    Hi how would i go at getting a loan

      ElizabethNovember 16, 2015Finder

      Hi Donna,

      Thanks for your question.

      You can compare your options using the table above. To review more detailed criteria for any of the lenders, just click on the name of the lender. Once you’ve found a loan you are eligible for and that you want to apply for, click ‘Go to Site” to submit your application.

      I hope this has helped.



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