Small Loans from $300 to $2,000 – Apply with Jacaranda Finance Today!
Small loans made simple
Need cash for an emergency? Jacaranda Finance has got you covered! Apply for one of our small loans today and you could have an outcome within 60-minutes.* Better yet, if approved, the cash could be in your account and ready to use in just 60 seconds!**
Scroll up now to apply or keep reading to find out more about our small personal loans.
What is a small loan?
In short, small cash loans (also called short term loans or cash loans) are a form of personal finance that enables you to borrow money for a set period of time. A small loan is usually valued between $300 to $5,000 with a loan term of about 16 days to 6 months. Some people are surprised that borrowing as little as $300 is even an option, however, many Australians just need a little help financially when unexpected expenses pop up.
Here are some of the best features of small loans:
- They are usually unsecured;
- They may be available for those with good or bad credit;
- With online small loans, applications can be done 100% online;
- Small loans can be provided to people who are employed or those who receive Centrelink benefits;
- Small loans can be used for personal expenses or emergencies, including paying bills or buying big-ticket items.
Why do people borrow small personal loans?
There are several reasons why people apply for small personal loans. Sometimes it’s to pay for an emergency expense and other times little loans can simply help to enhance your quality of life! Regardless, applying for finance can be incredibly stressful. That’s where we come in. Jacaranda Finance can provide you with small personal loans to cover life’s unexpected costs so you can focus on the more important things in life. Fill out an application in minutes and you could have an outcome in 60 minutes.
Jacaranda’s online small loans
At Jacaranda, we offer four types of loans: small unsecured loans, medium secured loans, large secured personal loans and car loans. Each of these vary slightly in terms of the features they offer and their qualification requirements.
With our unsecured small loans, you can borrow an amount anywhere between $300 to $2,000. You can repay these loans over a 12-month period. If you need cash now, we offer small cash loans fast so scroll up now to apply for a small loan today!
How much does a loan cost?
We don’t offer low-interest small loans, but we do offer affordable interest rates. To find out how much a small loan could cost, use our repayment calculator at the top of the page to get an estimate. In addition, check out the Moneysmart website which contains useful info about the permissible fees and charges for loans.
How do loan repayments work?
With Jacaranda, our repayments work by setting up a direct debit, so your repayments will come out of your account automatically. They can be set up to come out of your account on a weekly, fortnightly or monthly basis. Though, we suggest matching your repayment interval with your pay cycle, as we find this to be the easiest way to ensure you make your repayments.
Can I get a small loan with bad credit?
At Jacaranda, we pride ourselves on giving all our customers a fair go. We understand that your credit score doesn’t always offer the full picture. So, we’ll also take a look at other factors like your income and expenditure when assessing your application. Consequently, we could offer you a small loan even with bad credit.
Small loans in 4 simple steps
Unexpected expenses happen to every one of us and we can all get caught out from time to time. Jacaranda Finance has your back regardless of your financial situation and could provide you with a small cash injection when you need it most. Here’s how you apply:
1. Apply online
To get small cash loans all you need to do is head to the top of this page. Use the loan calculator to enter a loan amount and repayment period. When you’re happy, hit ‘Apply Now’.
2. Get an outcome
Next, you’ll be directed straight to our full online application form. The application form will ask you a few questions about your personal details, banking details, and purpose of the loan. So, this could only take a few minutes to complete. Once you’ve finished, our team will start their assessment. If you apply during regular AEST business hours, we could have an outcome for you within 60 minutes.
3. Sign your agreement
If your loan application is successful, our team will send over a loan agreement for you to review and sign. At Jacaranda, we believe in transparency. So, we will outline any fees or charges you could incur for late or failed payment in your agreement. Our team encourages you to read your contract carefully to ensure you’re aware of these charges.
4. Get your cash!
When we’ve received your signed agreement, our team will transfer the funds straight to your account. With instant transfers, you could see the cash in your account in just 60 seconds.** Bank transfer times can and do vary, so make sure you check with your financial institution for clarification.
What are the eligibility requirements?
While the application for small cash loans is simple, there are a few requirements you need to check off. To be eligible to apply for Jacaranda small personal loans you need to be:
- At least 18 years of age;
- An Australian citizen or permanent resident;
- Receiving regular income (at least 90 days prior);
Do You Do Small Loans No Credit Check?
We don’t always do credit checks. Though when we do, your credit rating is not the only thing we look at. We prefer looking at the bigger picture, taking several factors into account. We look at bank statements and current relationships with money, as well as how you are going to pay back the loan.
Having bad credit is often a result of situations that may have happened in the past. However, we’d prefer to assess your finances based on your current relationship to finances, and not hold you back because of your bad credit rating.
What Does It Mean To Have Bad Credit?
Your credit rating is a value given on a scale from 0 – 1200 and describes your history with credit. The higher the value the better your credit rating is. So, if your credit rating is anywhere below 620, it may be considered ‘bad’ or below average. Your credit rating reflects the information contained in your credit report, which includes the following details:
- Personal details such as age – this relates to the length of your credit history. The longer your credit history is, the better.
- Your address – if you have changed addresses many times, this can reflect badly on your credit report.
- The number of credit enquiries you have had – each time you apply for credit it gets recorded on your credit file. Making multiple credit inquiries at one time can reflect badly on your credit report.
- Defaults – if you have defaulted on any credit accounts this will reflect badly on your credit rating. Defaults mean you fail to meet your obligations to repay debt.
- Your repayment history – this refers to how reliable you are with making your repayments and will be reflected on your credit report. If you have been unreliable with making your payments on time it can damage your credit rating.
- Credit mix – the diversity of your credit mix can actually help to improve your credit rating if you can show that you can responsibly manage the multiple types of credit you have.
- Any public records – this includes things like bankruptcies and court judgments. This can all be very damaging and remain on your credit report for a long time.
Want to know more? Find out how you could get a poor credit loan with Jacaranda.
Do You Do Small Business Loans?
If you’ve got a small business that is a sole prop, you could look for loans to cover your business expenses. For instance, if you need to pay for new machinery or office supplies, our small cash loans can cover these costs. Here are other examples of what our small business loans can be used for:
- Office furniture;
- Paying employees;
- Buying computer software;
- Paying for inventory;
- Covering start-up costs.
Do You Do Small Loans For Centrelink Customers?
Yes, we do loans for Centrelink customers! You need to be receiving Centrelink income payments and provide us with your Centrelink MyGov statement. However, it’s important to note that we don’t accept all Centrelink customers. We assess everyone on a case by case basis and we will never lend any more to customers than they are able to afford. We take our duty as responsible lenders very seriously.
What if my loan application is not accepted?
If your loan application is rejected there could be several reasons as to why. So, below we’ve listed some of the reasons your small loan application may not have been accepted:
Didn’t meet the eligibility requirements
First and foremost, if your application was not accepted, check that you have met all the requirements to qualify for a loan.
For your application to be accepted, Jacaranda requires the that you:
- Are 18-years or older;
- A citizen or permanent resident of Australia;
- Have a personal phone number and email address;
- Have a personal bank account with internet banking set up.
Insufficient or irregular income
For us to qualify you for a loan we need to ensure that you can afford the repayments. So, if you have a very low income this may be one of the reasons your application was not accepted.
If your income varies from paycheck to paycheck, lenders may see this as riskier because you might not be able to meet future repayments. Since we aim to be responsible lenders, we care about your investments and want to ensure you are able to afford a loan with us.
You’re going to use your small loan to pay for another small loan
So, unfortunately, if you are going to use a small loan to pay off another loan, this is a sign of a negative cycle of ongoing loans and never-ending repayments that you won’t be able to afford.
We recommend you to take a look at what to check before you borrow money or sign a contract.
How can I avoid a loan rejection?
To help the cause of your loan application, here are some tips to keep in mind before you apply.
- Check the reason for your loan;
- Ensure your personal details are correct in the application;
- Check that you meet the eligibility requirements.
While filling out your loan application, you may be asked to supply certain pieces of information. We want to make this process as quick as possible for you. So make sure you also have these handy when you apply:
- 100-points of identification;
- Your internet banking details;
- The reason you are applying for a loan;
- Your MyGov details (if you receive Centrelink benefits);
- Your employment details and employer contact information.
Apply online now!
So, there you have it – everything you need to know about borrowing money. If you need a small loan you know where to go. Whether you need small business loans or a small loan no credit check, we do our best to get you the loan you need. Even if you need a quick cash loan for unexpected expenses or cash to fund those life experiences that just make life worth living. The Jacaranda easy loan application process makes us your go-to for loans!
Sound good to you? Then why not go ahead and apply… right here! Want to know more? Find out how you could get a poor credit loan with Jacaranda.
*If you apply during AEST business hours
**Subject to NPP enabled bank accounts