Borrow up to $5,000 through a Champion Money loan, and wake up with access to your approved funds
Champion Money is more than a decade old, and this Australian-owned credit assistance provider can help you get a secured loan of up to $5,000, no matter where in Australia you live. If a matter like short employment history or credit defaults have stopped you accessing other finance, you can still approach Champion Money for a loan.
They provide different types of loans, which include cash loans, low income loans, car loans, and business loans. Applying for these loans is easy, and while you can expect processing of your application to take a few hours, you can get your funds on the next business day.
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What types of loans does Champion Money offer?
Champion Money provides different types of loans, but all require that you provide some kind of security, ideally a car. Details of Champion Money loans are as follows.
- Low Income Loans. If you’re worried that you don’t earn enough to qualify for a loan, you can consider applying for this option. You can borrow up to $2,000 through this loan, and you can use approved funds for just about any worthwhile purpose. You don’t have to pay any application fees, ongoing account-keeping fees, or early payout fees.
- Cash Loans. You can borrow up to $5,000 through a Champion Money Cash Loan, and you can use proceeds from this loan for any legitimate purpose. This loan does not attract any early payout penalty.
- Car Loans. Borrow up to $5,000 through a Champion Money Car Loan, and use it to buy a car, caravan, trailer, or motorcycle. You can buy through a dealership or from a private seller. You won't be charged any early payout penalty if you find you're able to repay your Car Loan early.
- Business Loans. You can apply for a business loan of up to $5,000, as long as at least 51% of the finance goes directly towards a business. For security, while you can use vehicles, you can also use plant equipment.
Why should you consider taking out a Champion Money loan?
Champion Money Low Income and Personal Loans come with various beneficial features, and knowing of them ahead of time should hold you in good stead.
- Use funds for any purpose. Once Champion Money approves your loan and gives you access to funds, you can use the money to pay bills, to buy or repair a car, towards medical and dental expenses, to go on a holiday, to get married, to celebrate a special occasion, or to get by a rough patch.
- Almost anyone can apply. Champion Money takes into account that many people don’t meet strict lending criteria, which is why it grants loans to people who have short employment or residential history as well as to those who have less than perfect credit history. What’s important is that you have the ability to repay the loan you seek.
- Quick approval. Once you submit your application and all required supporting documents, you can expect an answer in the next four to eight business hours. After you accept the contract, the funds should get to your bank account by the following business day.
- No early repayment penalty. Champion Money charges interest only for the time you take to repay the loan, so if you pay the loan off ahead of time you can save. What also helps is that Champion Money does not charge any early payout fees or penalties.
How much will it cost you to borrow from Champion Money?
No matter which Champion Money loan you take, you don’t have to pay any early payout fees, and low income loans don’t charge any application and account-keeping fees.
Upon your loan’s approval, Champion Money gives you a clear indication of what you might end up paying in the form of fees and changes through a detailed loan contract. Going through this contract carefully is a good idea, since it can give you a good idea of what to expect. Until you accept the contract, you don’t have to pay any fees.
Are Champion Money loans safe?
Champion Money is a member of the Finance Brokers Association of Australia (FBAA) and is associated with Financial Advisers Australia (FAA). All Champion Money contracts can be easy to understand, and you don’t have to worry about any hidden fees and fine print that could surprise you later.
How to apply for a loan from Champion Money
Applying for a Champion Money loan is easy, and if you wish to do you can submit an online application. You can also apply over the phone or in person. Before you apply, make sure you meet certain eligibility criteria:
- You’re at least 18 years of age
- You’re a permanent Australian resident
- You have a source of income
As part of the application process you have to provide the following supporting documents, which you can send via mail, email, or fax, or deliver in person.
- Two forms of identification
- Proof of residence
- Proof of income
- Bank statements for the last three months
You’ll also have to provide names and contact details of four family members or friends.
Getting a Champion Money loan can be a good idea, but since other loan providers have similar offerings, make sure you compare what's available before applying.
Frequently asked questions
How quickly can I complete the online application?
If you keep all the required information close at hand you can complete the online application in around 10 to 15 minutes.
How long does it take for me to receive my approved funds?
While processing the application can take around four to eight business hours, the transfer of funds can take up to one business day.
Is there any flexibility in repayments?
Yes, after you apply a Champion Money representative talks to you and sets your repayments over a suitable time period. This is after taking your affordability into account.
How can I save by paying my loan sooner than scheduled?
Since you pay interest over time, the sooner you end up repaying your loan, the less you pay in the form of interest.
Do I have to provide security?
Yes, you can apply only for a secured loan through Champion Money, and using a car as security is one option you have.