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Quick loans

Here's how to get a quick loan (and how fast it will get there).


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This guide explains which lenders offer quick loans and what to consider before deciding to apply.

Are you struggling financially?

If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here:

⚠️ Warning about Borrowing

payday-warningDo you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.


Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $2,000
  • Loan Term: 9-14 weeks
  • Turnaround Time: 30 minutes - conditions apply
  • Fees: 20% of loan amount + 4% of loan amount each month
  • Bad credit borrowers OK
  • Quick & easy Approval
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Go to site More info

The lenders offering quick loans in Australia

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.
Credit24 Short Term Loan
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
Nimble Short Term Loan
62 days to 9 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 9 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
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.
Ferratum Cash Loans
3 to 12 months
Same day - conditions apply
20% of borrowed amount + 4% of borrowed amount each month
Borrow what you need with loans starting from $500 and approval in minutes. Note: Apply for a loan and get paid out from 1 to 31 October 2020 to enter the raffle and get a chance to win weekly $250 vouchers or an iPad. Terms & conditions apply.

Compare up to 4 providers

How quickly are the loans approved?

Once an application is made, it will generally be approved or conditionally approved. The approved applicant will receive a credit contract agreement (this may be by SMS or email) and once it's been agreed to, the money will be deposited into the nominated bank account.

The time this takes will depend on who they bank with and when the loan contract is agreed upon.

Here is a breakdown of the transfer times for some short-term lenders:

LenderHow fast will you get the loan?Find out more
Cash TrainThe following business day once approved. Applicants who bank with one of the Big Four and are approved by 2pm, can receive it on the same day.More
Credit24The same day if the loan is approved by 3pm. Otherwise, the next business day.More
enablyFunds can be deposited minutes after approval, which takes about one hour.More
MoneyMeFunds transfered within a few hours. Applicants who bank with Commonwealth Bank will receive funds within a few minutes, but if they apply outside of business hours, funds will be received the next business day.More
MoneyspotApplicant who bank with CommBank will receive funds in minutes. If not, applicants can expect the money within the hour.More
NimbleIf the loan is approved before 4:30pm on a business day, funds will be transferred that day. The time it's received depends on the bank. If it's approved after this time, it will be transferred the next day.More
SpeckleOnce the contract has been approved and signed, the funds will be received within two business days.More
Swoosh FinanceLoans usually approved within one hour. Funds will be transferred to a bank account one hour after the loan contract is signed.More
Sunshine LoansFunds will be in the bank account on the same day the loan is approved and the contract signed. This just needs to be done within business hours.More
Wallet WizardFunds to be available two hours after the loan is approved. Keep in mind that this needs to be before 2:30pm.More

What are the risks of quick loans?

  • Unreputable lenders. Check the lender has a credit licence and is not charging you more than ASIC allows. The lender should be easily contactable.
  • Unaffordable repayments. Consider the size of the regular repayments and ensure the loan is able to be repaid during the loan term. If not, extra fees apply to extend it. Be careful, since repayment periods for these kinds of loans tend to be shorter than regular loans.
  • Multiple applications. Every loan application shows up on credit reports. While lenders might not consider credit history, several applications within a short period can have a negative impact on your credit score moving forward.
  • Check rates and fees. Establishment and monthly fees are capped, so be wary of lenders quoting prices beyond the legal maximum amounts. Be crystal clear on what will be charged for late payments or a default on the loan. The total cost of the loan matters here - lenders can charge interest rates on top of everything else.
  • Long-term repercussions and legal issues. Once the loan agreement is signed, the customer is bound to its conditions until the loan and any associated rates and fees have been paid. Typically these loans are unsecured, which means that the lender can initiate legal proceedings against the customer if they can't repay.

Who is eligible for a quick loan?

This depends on the lender. For each lender we compare on Finder, you can check the eligibility criteria on the bottom of the review page.

Generally, applicants need to meet the following criteria:

  • Be over the age of 18
  • Be a permanent Australian resident or citizen
  • Be able to provide identification
  • Be able to provide 90 days’ worth of banking history
  • Be receiving some sort of income (from Centrelink or a job)

How much do quick loans cost?

Lenders are restricted as to how much they can charge you depending on how much you borrow. Below, you'll find information on the maximum they can charge, although some lenders will charge less than this.

  • For loans less than $2,000 with repayment terms between 16 days and one year, there is a 20% establishment fee and 4% monthly fee
  • For loans between $2,001 and $5,000 with repayment terms between 16 days and two years, there is a $400 establishment fee and a maximum rate of 48% p.a.
  • For loans more than $5,000 with repayment terms longer than two years, all fees and charges cannot exceed 48% p.a.

Quick loans vs bank personal loans

Both loans are designed to help finance personal needs, but there are some key differences:

  • Amounts and terms. Personal loans from banks and traditional financial institutions are generally for larger amounts and for longer terms. You'd typically find personal loans over $5,000 for terms of one year or more, whereas payday loans are generally for less than $2,000 and have terms between 16 days and one year.
  • Fees. Banks and credit unions are exempt from the fee restriction imposed on small amount lenders. This means they can charge more on loans if they choose to.
  • Application and approval. Personal loans from banks and credit unions usually involve a longer application and approval process. While some banks have same-day loans for existing customers, if you apply as a new customer, you will generally have to wait a week or more to be approved and receive your funds.
  • Bad credit history. Few traditional banks offer personal loans to those with bad credit, especially if that loan was unsecured. However, lenders offering smaller, quick loans look more at the applicant's ability to repay rather than black marks on their credit file.

How to apply for a quick loan

If you're in need of a quick financial solution, start by comparing lenders in the table above. Once you've found one you're eligible for, just click "Go to Site" to submit your application. You'll need to have a few details on hand to complete your application:

  • Personal. You'll need a driver's licence, passport or something to show your identity, your contact details and other similar information.
  • Financial. This includes how much you earn and whether or not you have any debts.
  • Employment. If you're employed, you'll need to submit details regarding your occupation and your employer's details. If you receive income from Centrelink, you will need to provide this information.
  • Banking details. Lenders usually need to check 90 days' worth of your bank statements plus account details to send you your loan.

If you find yourself in need of a quick loan, there are options available. Different lenders have different terms, so compare your options and see whether such a loan might work for you. Start your comparison and apply today.

What can I use my quick loan for?

How the loan is intended to be used can come with restrictions. If applicants have a need for the money and have the ability to repay it, in some circumstances they can apply and use the quick cash loan amount in any way they choose. However, some lenders may ask how the loan amount will be used.

It's important to note that if you're struggling with covering costs like utility bills, it's a better idea to get in touch with the utility company first to see if there are payment plans available. Also, quick loans aren't suitable to cover necessities or to make repayments on existing debts, so if that's the issue you may want to consider a longer term solution to your credit needs.

Most lenders operate in the online space, so you can see how secure their application is (lenders usually provide this information). If you have questions, give the lender a call and see how easy it is to get in contact with them.

More guides on Finder

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12 Responses

  1. Default Gravatar
    KamJanuary 9, 2019

    My friend wanted to borrow $6000. Which lender would be able to lend?

    • Avatarfinder Customer Care
      JhezJanuary 11, 2019Staff

      Hi Kam,

      Thank you for your comment.

      For as long as the eligibility criteria and the requirements are met, lenders will usually consider you for a loan. You may compare the loans up to $10,000 here. Please read through the guide and get some tips in comparing personal loans. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you. To apply, just click the Go to Site button.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  2. Default Gravatar
    quickieDecember 7, 2018

    hi I cant find website re loans quckiesmall loans

    • Avatarfinder Customer Care
      JohnDecember 11, 2018Staff

      Hi Quickie loans australia,

      Thank you for reaching out to finder.

      You seem to be on the right page to check on quick loans that you could apply for. The comparison table gives you a range of lenders you could reach out to. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. If you are looking for Quick cash loans, you may check this page and click their name to see their review page. Hope this helps!


  3. Default Gravatar
    JodieOctober 12, 2017

    I need a small loan of 2000 to register a car – I am on a pension , why Am I getting refused and what is my best option ?

    • Default Gravatar
      MariaOctober 13, 2017

      Hi Jodie,

      Please note that the approval of your application would depend on the lender’s assessment of your financial situation and ability to make loan repayments.

      You may want to check out this page on Pensioner Loans for lenders that consider pension as a source of income for your loan application.

      Before applying, please ensure to read the details, as well as the relevant Product Disclosure Statements/ Terms and Conditions of the option before making a decision and consider whether the product is right for you.


  4. Default Gravatar
    RajibApril 20, 2016

    I need huge amount of money because open small industry can u helping me

    • Avatarfinder Customer Care
      ElizabethApril 20, 2016Staff

      Hi Rajib,

      We do not offer the loans ourselves but you can compare larger loans up to $10,000 on this page. If you’re after a business loan, you can find some of your options on this page.

      Hope this will help,


  5. Default Gravatar
    LouiseJanuary 19, 2016

    Why is cash converters not listed?

    • Avatarfinder Customer Care
      ElizabethJanuary 20, 2016Staff

      Hi Louise,

      You can find Cash Converters listed under the ‘Cash lenders’ panel on the side of the page, and also more information on this page.

      I hope this has helped.



  6. Default Gravatar
    SackNovember 28, 2015

    Can Canadian resident apply too?

    • Avatarfinder Customer Care
      ElizabethNovember 30, 2015Staff

      Hi Sack,

      Unfortunately you’ve come through to an Australian financial comparison website and these lenders only approve loans to Australian residents. You’ll need to get in touch with a Canadian lender to find a loan for you.



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