MyCashFinance Personal and Business Loans

Information verified correct on October 22nd, 2016

Mycashfinance logoIf you’re in need of a loan, for personal or business needs, find out if you’re pre-approved within five minutes for a MyCashFinance loan.

Finding a loan when you need one doesn’t have to be a complicated process. MyCashFinance requires four simple items of information to determine if you’ve been pre-approved. The loan amount you’re approved for after you submit your full application depends on your ability to repay the loan and the market value of any assets you own. Loan terms are available up to 1 year and loans for both personal and business purposes are available.

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Rates last updated October 22nd, 2016
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What steps are involved in the loan process?

  1. Choose the loan that best suits your needs.
    A Fast Cash Loan and a Small Business Loan are both on offer, so compare them to see if they suit your needs.
  2. Fill out the pre-approval form.
    This form only has four fields and won’t take you more than a minute or two to complete.
  3. Complete your application.
    If you are pre-approved you can complete the full application. This will then be assessed by the lender.
  4. Contract and receiving your loan.
    If your loan is approved you’ll be sent a loan contract to sign. Once this is done you will be sent your loan.

What loans does MyCashFinance offer?

MyCashFinance gives you the choice between two loans:

  • Fast Cash Loan. Borrow between $1,600 and $10,000 with this loan and have up to 1 year to repay it. Repayments are based on your financial circumstances and can be weekly, fortnightly or monthly. You’re able to repay the loan early without penalty.
  • Small Business Loan. Loans for business purposes are available for amounts between  and $500,000. You’ll have up to 3 years to repay the loan in weekly, fortnightly or monthly installments or through capitalised repayments. Interest starts a 2% per month and loans can be secured or unsecured.

Features of a MyCashFinance loan

Taking out a loan with MyCashFinance gives you access to certain features, including:

  • Choice of loan. You have the choice between a Fast Cash Loan and a Small Business Loan.
  • Lengthy repayment terms. Have a little longer to repay your loan than with standard payday lenders – you could have up to 1 year to repay a Fast Cash Loan or  3 years for a Small Business Loan.
  • Joint application. If you’re not eligible for a MyCashFinance loan you can apply with another person who is in order to be approved.
  • Receive your loan quickly. If you submit your application and the loan is settled before 3pm you can receive your funds on the same day. Loans settled after this time will be received by the following business day.

Are you eligible for a loan?

To be eligible for a Fast Cash Loan you need to:

  •  (if you don’t own either you can apply with someone who does)
  • Receive at least  in after-tax income a week
  • Have acceptable credit history (bad credit is considered)
  • Be over the age of 18

To be eligible for a Small Business Loan you also need to:

  • Be using the funds for business purposes
  • Be starting a new business or operating an existing business

MyCashFinance offers two flexible solutions for both your business and personal financing needs. Before you apply or even start the pre-approval process, compare the loans available so you get the best loan for what you need.

Frequently asked questions

What happens when I submit my application?

After you are pre-approved and submit your full application, a lender will review it and a contract will be generated. After you accept and sign the contract the money can be transferred to your bank account.

I receive Centrelink payments. Can I be approved for a loan?

You can approved if you earn over  per week. You will not be eligible if your income comes from Newstart, Youth Allowance or Austudy.

Can I repay my loan early?

This is possible with most lenders but it would be best to check if there are any fees involved before doing so.

Are there any credit checks?

Yes, your credit file will be checked, however you can still be eligible for loans with bad credit.

How can I receive my loan on the same day?

Submit your loan application in full as early as possible. If all supporting documents are received and the loan is settled before 3pm, the funds can be transferred on the same day.

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2 Responses to MyCashFinance Personal and Business Loans

  1. Default Gravatar
    Vicky | May 25, 2016

    Hi, I would like to know if I can borrow $6,000 to pay out my Bankruptcy. My husbands bankruptcy has just been discharged, but Mine has approx $6,000 remaining. The caveat on the house can’t be released until I am discharged as we are wanting to borrow money for a business opportunity.
    I have been paying between $1000. -$1300 per month currently off this bankruptcy estate.
    Can you please advise if this request is possible?

    Thank you and regards

    • Staff
      Elizabeth | May 26, 2016

      Hi Vicky,

      To be eligible for a loan with MyCashFinance you need to apply with a guarantor if you are bankrupt, and I’m unsure if your husband will be eligible as a guarantor is he is a discharged bankrupt. You will need to contact MyCashFinance to confirm this. You can also find out some of your other options on this page.

      I hope this helps,


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