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While we don't compare Tele Loans Payday Loans, here is a comparison of other Payday loan providers that you may find useful.
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 28 days, with first payments required to be made within 20 days of funding. Cash loans amounts vary from $100 to $200 for first time borrowers and up to $1,000 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.
Borrowers can also have a guarantor for their Teleloans. 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.
Depending on the type of loan that someone needs, they 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.
Applicants must be over 18 and meet one of the following criteria in order to apply:
Documentation in the form of two forms of identification and bank account information is required.
Documentation requirements include bank account information and may include requests for other documentation of business information if required.
At a maximum of $1,000, 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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