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MiFinance Personal and Business Loans

Payday loans for when you need it or business loans if you have an ABN – apply for up to $1,000 with MiFinance.


It can be difficult to secure financing for business or personal use, even if it’s only for a small amount. MiFinance aims to simplify the process by having minimal eligibility criteria and two options for when you need a loan – one for personal use and one for business. If you need up to $1,000 and have been employed for at least three months or have an Australian Business Number (ABN), find out about your options with MiFinance below.

Compare other loans

Whilst we don't compare this loan, compare other loans from the table below

Data indicated here is updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
9-14 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
62 days to 3 months
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 3 months. Centrelink cannot be your primary source of income.
Fair Go Finance Small Loan
3-12 months
1 business day
Establishment fee 20% of loan amount + monthly fee 4%
A small loan between $500 and $2,000 that can be funded in 24 hours.

Compare up to 4 providers

The types of loans MiFinance offers

You can apply for two types of loans from MiFinance depending on what best meets your needs:

  • Short Term Cash Loan. If you’ve been employed for at least three months and are over the age of 18, you can apply for up to $2,000 . Your repayments will be weekly, fortnightly or monthly, depending on how often you get paid, and you will receive the loan directly into your bank account.
  • ABN Loan. Sub-contractors and sole traders with an ABN that need up to $1,000 for business needs can apply for an ABN Loan from MiFinance. Repayment terms are 16-30 days.

What features come with a MiFinance loan?

  • Quick application and turnaround. Applying is quick and is all handled online. Once you are approved the money is sent to your nominated bank account.
  • Loan amount. Borrow up to $1,000 with an ABN Loan and up to $2,000 with a Short Term Cash Loan.
  • Lending criteria. You can apply for either loan if you are over the age of 18, earn at least $400 per week and can afford the repayments. You will need an ABN to apply for the ABN loan.

How much do the loans cost?

  • Short Term Cash Loan

Establishment fee - $20 of the principal loan amount

Monthly fee - 4% of the principal loan amount

  • ABN Loan

20% of the principal loan amount

  • Late fees and charges

Missed repayment fee - $30

Reduced payment request fee - $20

Are MiFinance loans safe?

You can access MiFinance’s credit guide, privacy policy and other similar documents directly from its website. It also display its Australian Credit Licence Number and ABN on its website so you can check it against ASIC’s registers. MiFinance is also transparent with its fee structure and contact information.

How you can apply for a MiFinance loan

Before you click ‘Go to Site’ to get your application started, make sure you meet the eligibility criteria:

  • You’re over the age of 18
  • You earn at least $400 a week
  • You’re paid into a bank account
  • If applying for the Short Term Cash Loan, you have been employed for at least three months
  • If applying for the ABN Loan, you have an ABN
  • More than half of your income can’t be from benefits

If you meet the above criteria, get the following information ready so you can complete your application:

  • Personal details. Your name, address, contact information and proof of your identity.
  • Employment. Your employment status.
  • Benefits and other income. List any benefits or other income you receive.
  • Expenses. List how much you spend on loan repayments, rent, transport, food, etc.
  • Banking details. Your BSB, account number and account name will be required.

MiFinance can help you get the loan you need, whether it be for your business or personal needs. Make sure you compare this loan with other similar offerings before you apply so you know you’ve found the best financing for you.

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