Tele Loans Payday Loans

Information verified correct on March 29th, 2017

Teleloans offers online business loans, small cash loans and bad credit loans with variable loan options.

Teleloans is a Queensland based online loan services provider. Loans may be sourced from a credit provider, Finance and Loans Direct Pty Ltd, or in some cases from Teleloans Pty Ltd. Loan terms and conditions may vary depending on the type of loan and applicable financial legislation.

Teleloans offers a range of small cash loans and business loans for various purposes.

Comparison of Payday Loans

Whilst we don't compare Tele Loans Payday Loans, here is a comparison of other Payday loan providers that you may find useful.

Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Product Description
Sunshine Short Term Loans
9 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
Nimble Short Term Loan
62 days to 1 year
1 hour - conditions apply*
20% of loan amount + 4% of loan amount each month
Apply for a short term loan and you could borrow up to $2,000
Ferratum Cash Loans
Up to 6 mths
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
A small loan from Ferratum lets you borrow up to $1,900 without a credit check
Cash Train Loans
10 weeks or 3 months
1 Business Day
20% of principal amount (establishment fee) + 4% monthly charge
Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application

Compare up to 4 providers

Types of personal loans from Teleloans

The two basic types of loans offered by Teleloans are simple cash and business loans, aimed at providing emergency cash relief for borrowers. Teleloans states that its intention is to provide useful cash sources for clients to manage financial situations.

Teleloans cash loans are small payday loans. The term of these loans may be up to  days, with first payments required to be made within 20 days of funding. Cash loans amounts vary from $50 to $200 for first time borrowers and up to $300 maximum.

Business loans from Teleloans are unsecured. Business loans may be up to $1000 with variable terms depending on borrower preferences.

Teleloans additionally offers borrowers an option to conduct loans through their services or directly with the credit provider, Finance and Direct Loans Pty Ltd, advising the benefits and costs of this alternative.

You can also have a guarantor for your Tele Loans. This method is generally used as a risk management option for lenders and may also be appropriate for some borrowers who are unable to document sufficient income for approval.

Fees and charges are applicable, with additional fees and charges calculated according to the terms of specific loans.

Features and benefits of a Teleloans personal loan

  • Teleloans is an emergency payday advance provider. Their basic cash loans are small, and may assist borrowers with short term cash needs. Business loans are similarly configured to provide cash for short term coverage of temporary costs and business expenses.
  • Bad credit loans. Teleloans advertises a small loan option for those with credit history issues, stating that borrower 'Credit history is history', which is for emergency loans only. The company provides other documentation which states that for larger loans, credit history is taken into consideration for loan approvals.
  • Loan choices. Teleloans offers borrowers a choice of terms for loans. Loans may be taken out under the National Consumer Credit Protection Act, or under the terms of their Guaranteed and Managed Loan service. Different conditions apply to each type of loan. The different terms of loans include different fees and conditions. Under the Guaranteed and Managed Loan service terms, a credit check is not conducted.
  • Flexible repayments. Loans payments may be made through credit cards, direct debit or money orders in emergency situations. This level of flexibility in repayment options may be suitable for some borrowers in preference to other alternatives.

How to apply for a personal loan from Teleloans

Depending on the type of loan you need, you can choose the Payment Advance tab for cash loans, and the Business Advance Tab for business loans. These pages are the Teleloans loan application forms.

Eligibility requirements

Personal payday loans

Applicants must be over 18 and meet one of the following criteria in order to apply:

In paid employment
Have a mobile phone in the borrower’s name
Have a landline in the borrower’s name

Documentation in the form of two forms of identification and bank account information is required.

Teleloans business loans

Businesses must have an ACN or ABN
Proof of payment information

Documentation requirements include bank account information and may include requests for other documentation of business information if required.

At a maximum of $300, Teleloans cash loans are smaller than the cash loan market average of around $1500. These cash loans are structured to act as emergency cash, rather than financial fixes for major budget issues. They may be useful to borrowers for managing expenses.

The Teleloans business loans are also notably smaller than the short term market average, at $1,000. This amount is geared to providing cash for current cashflow issues. For business borrowers, these loans may be suitable for managing small business costs.

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