Responsible Lending

Short term finance is inherently expensive when compared with other lending options, and may not always be the best choice.  However, these loans are for a short time period (typically a few weeks), and so the actual cost in dollar terms can be less than if you went to your bank or another finance company and asked for a longer term loan.

Before deciding to get a short term cash loan, you should carefully consider why you need the money.  If you have an emergency (like an unexpected bill or repair) then a short term cash loan may be the answer.  However, if you need to borrow a larger amount over a longer time period, in order to make the payments more affordable, then you might be better off talking to your bank, credit union or another finance company that specialises in those types of loans.

We always ask to see your latest bank statements each time you come to us for a loan, so we can assess your current financial situation.  We look at your regular income and regular expenses to estimate your current overall net income.  This helps us determine your ability to take on additional expenses.  If you have had a loan with us before, we will also look at your loan repayment history.  If you have been able to make your repayments on-time, then this indicates the previous loan was affordable for you.  On the other hand, if you had trouble making your payments, then its likely that the previous loan was a struggle for you.  We also consider any changes in your personal circumstances that we become aware of that may have a positive or negative impact on your ability to repay a loan.

We take all of these factors into account when considering your loan application and will use this information to determine the maximum amount that we are prepared to lend to you today.  This is to help ensure your new loan is affordable.  It’s bad for us both if you are financially over-committed and can’t afford your repayments, so we try to do our best to get it right at the start.

We also recommend the following web sites for further information on budgeting: