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Rapid Finance Bad Credit Loans

With Rapid Finance, you can apply for a wide variety of loans even with bad credit. Costs will vary according to individual applications and the type of loan.

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GoRapid specialises in loans for customers with a bad credit history, and who are unable to get loans elsewhere. These loans include car loans, personal loans, bike loans, boat loans, equipment loans and more. While the cost will vary based on the applicant and the type of loan you apply for, loan terms are between 1 to 7 years. Repayments are flexible, allowing you to make weekly, fortnightly or monthly repayments. If you have security to offer, you may get better terms.

Compare Other Bad Credit Loans

Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
12-20 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $3,000 that you repay over 12-20 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Fundo Small Loan
13 to 26 weeks
Same day - conditions apply
20% of loan amount + 4% of loan amount each month
Borrow up to $2,000 and pay it off over 20 weeks. Same day approval for eligible borrowers.
Fair Go Finance Small Loan
3 to 12 months
24 to 48 hours
Establishment Fee of $60 – $400
A small loan between $500 and $2,000 that can be funded in 24 hours.
Safe Financial Small Loan ($500 to $2000)
13 to 50 weeks
Same day - conditions apply
20% establishment fee + 4% monthly.
Borrow from $500 to $2,000 with same-day funding and no early repayment fees.

Types of Rapid Finance loans

GoRapid provides a wide variety of bad credit loans. Depending on what you're looking to finance, you might want to consider applying for their:

  • Bad Credit Car Loans. If you're looking for finance for a vehicle but have bad credit, you can apply for one of these loans. Enjoy a free finance assessment and loan options such as chattel mortgages novated leases, consumer car loans and commercial hire purchases.
  • Bad Credit Home Loans. Home loans for those with bad credit can be accessed through Rapid Finance. First home buyer, refinance, investment and commercial are available.
  • Bad Credit Personal Loans. Aren't looking to purchase an asset with your loan? Personal loans for bad credit applicants are also on offer. There are no penalties for extra repayments with these loans, helping you to save on interest if you're able to repay your loan early.
  • Bad Credit Leisure Loans. Finance for bikes, boats, jet skis and caravans can be found under the tailored 'leisure loan' umbrella. As with most Rapid Finance loans, bad credit borrowers are considered.
  • Bad Credit Equipment Loans. Applicants, including those with less-than-perfect credit, can apply for finance for trucks, 'yellow goods' and other equipment, which can help your business get the tools it needs to keep going.

Rapid Finance Bad Credit Personal Loan

Rapid Finance Bad Credit Car Loan

The features you can expect when you borrow

  • Bad credit considered. One of the biggest stumbling blocks in getting a loan is having a negative mark on your credit file. This can make it difficult to be approved for loans from a vast majority of lenders. However, Rapid Finance will look at your current financial circumstances while considering you for a loan, looking beyond any bad credit you might have run into.
  • Wide variety of loans. They provide loans for different purposes, including to finance a boat or a vehicle, to buy a home, a caravan or even a bike. This essentially makes them a one stop shop for most bad credit financing requirements.
  • Repayments. You'll have between one and seven years to repay your loan, and you'll be given a rate based on your application. You can make weekly, fortnightly or monthly repayments.
  • Fee structure. The fees for loans is based on individual circumstances. This allows you to get loans for attractive terms if you can meet the requirements, such as if you have a property in your name or if you can provide any other security.
  • Free assessment. The preliminary assessment is free of charge. A quote is provided after the assessment if it is found that financial assistance can be provided. The services up until this point are provided without any cost attached to them.

What you'll pay when you take out a loan

Fee and charges vary according to individual applications and the type of loan taken out. The initial assessment of the application is done free of charge. After a quote is provided, there might be certain fees charged depending on the loan. If a valuation of the secured property is required, the costs attached to it may be included in the fees.

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How to apply for a loan from Rapid Finance

If you would like to apply for a loan, you can start filling the application form by clicking ‘Go To Site’ on this page. This will redirect you to an online application which needs to be filled. Keep in mind you need to be over the age of 18 to apply. Have the following details on hand to submit your application:

  • Personal details. These include your name, date of birth, contact number and driver's licence number.
  • Financial details. If you've been bankrupt or in a Part 9 Debt Agreement, you'll need to list your status. You also need to list any property you own outright or under a mortgage, as well as any defaults you have.
  • Employment details. Your current work status, how long you've been at your current and previous job and your net pay after tax will need to be listed.

GoRapid can assist you in getting your dream car or finding the ideal loan if you have bad credit. They provide a quick and competitive service that can be very useful for customers looking for immediate financial assistance.

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Frequently asked questions

I have been denied a loan by a couple of lenders. Will I be successful in getting a loan from Rapid Finance?

Every organisation has different credit criteria for various loans. Rapid Finance specialises in bad credit loans and instead of looking at prior results, they assess all applications on their individual merit. Whether or not you are approved will depend on your financial situation and your ability to meet your loan repayments.

Are there any charges for the services provided by Rapid Finance?

Rapid Finance provides their services free of charge until the point of providing a quote. The initial assessments for most of the loans do not require any cost or charges from the applicants. Only after a loan is accepted by you do the fees for that respective loan need to be paid.

What interest rate will apply to my loan?

Rapid Finance offers various rates. The actual interest rate that will apply to your loan will depend on your individual financial circumstances and the information you supply in your application.

Written by

Elizabeth Barry

Elizabeth Barry is the lead editor for Finder. She has over 10 years' experience writing about a range of topics with a focus on personal finance. You’ll find her writing and commentary in a range of publications and media including Seven News, the ABC, MSN, the Irish Times and Singapore Business Review. See full profile

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31 Responses

    Default Gravatar
    SuzanneMay 2, 2017

    Can I possibly get a loan from you as a self funded retiree I urgently need $15000?

      HaroldMay 2, 2017Finder

      Hi Suzanne,

      Thank you for your inquiry.

      Our company is a financial comparison website and general information service designed to help consumers to make a better decision. Please note we do not represent any company we feature on our pages.

      If you would like to apply for a loan from Rapid Finance, you can start filling the application form by clicking ‘Go To Site’ on this page. This will redirect you to an online application which needs to be filled. Keep in mind you need to be over the age of 18 to apply. Should you need to discuss your eligibility you need to get in contact with Rapid Finance directly.

      I hope this information has helped.


    Default Gravatar
    garyFebruary 13, 2017

    can i borrow 3000 on newstart

      DeeFebruary 13, 2017Finder

      Hi Gary,

      Thanks for your question.

      I might not be able to tell you whether you would be approved or not for a loan, but yes, it is possible for you to still get a $3,000-loan even if you’re on Newstart. Ultimately, lenders would check your ability to make repayments, and based on their assessment, they will determine whether to approve you or not.

      If you are asking about Rapid Finance, yes they consider some form of Centrelink benefit as income. You can get in touch with Rapid Finance directly to confirm your chance of approval.

      Alternatively, if in case you want to explore other options, please check the list of loans for Centrelink recipients featured on our website. Open that link and you should find a comparison table. Once you’re done comparing, please select the “Go to Site” button to be safely redirected to your chosen lender.

      Please make sure that you have read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      Also if you can, contact first the lender and discuss your options and chances of approval before you send anything final for your application.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!


    Default Gravatar
    ThelmaAugust 23, 2016

    I am a pensioner and need a loan to consolidate my debt in order to have only one payment to make instead of several.

      ElizabethAugust 24, 2016Finder

      Hi Thelma,

      Rapid Finance offers personal loans and you may be eligible depending on how much you earn from the pension and your financial situation. If you need to discuss your eligibility, you should get in contact with Rapid Finance directly.

      If you find you aren’t eligible, you may want to compare other pensioner loans.

      I hope this helps,


      Default Gravatar
      EricaJanuary 9, 2017

      Hi I need to apply for a loan of $400

      MayJanuary 9, 2017Finder

      Hi Erica,

      Thank you for your inquiry.

      You may check our small personal loans page for loans between $100 and $2,000.

      Please review the criteria and once you’ve found a loan you’re eligible for and you wish to apply for, please select the ‘Go to site’ button to apply on the lender’s website.

      Hope this helps.


    Default Gravatar
    ShannonJuly 28, 2016

    I have two credit cards and a personal loan. My bank won’t let me consolidate, am I able to through you?

      ElizabethJuly 28, 2016Finder

      Hi Shannon,

      You’ve come through to, a financial comparison service and not Rapid Finance. Rapid Finance offer a range of bad credit personal loan solutions, but whether or not you will be approved or not depends on your personal financial circumstances and your ability to repay the loan.

      You can find out more by visiting its website.

      I hope this helps,


    Default Gravatar
    rebeccaApril 28, 2016

    Hi im on a single mothers pension and in need of a personal loan am i able to get one

      ElizabethMay 2, 2016Finder

      Hi Rebecca,

      Rapid Finance considers some form of Centrelink as income so you may still be approved. You can get in contact with Rapid Finance to find out more information. If you find out you aren’t eligible, you can compare pensioner loans to see what might be your other options.

      Hope this helps,


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