How It Works
Swoosh offer Secured Medium Loans from $2,100 to $4,600 for Australians who require a quick resolve for their cash flow needs.
To be eligible for a loan with Swoosh you must meet the following criteria;
- Employed for at least 3 months
- Permanent Australian resident
- Own a vehicle registered in your name, with no finance owing or encumbrances (this vehicle will be used as security on your loan)
Step 1. Apply Online
Complete our online application form. We will ask for some personal information, identity, banking details and your desired loan amount.
Step 2. You attain conditional approval
Based on the details you provide to us in your application, we will determine if our Secured Medium Loan product is suitable for you, subject to a final assessment. At Swoosh we believe in giving everyone a second chance which is why all our applications are assessed by our team (of humans!).
Step 3. You supply supporting documentation
We’re paperless! Unlike traditional lenders, with Swoosh there is no need to scan, fax or photocopy copies of your bank statements, payslips and other time consuming documents – we utilize the latest and safest banking technology to obtain 90 days of bank statements online in seconds.
Step 4. We assess your situation and process your loan
As a responsible lender, Swoosh aims to only lend you what you could afford to repay. To ensure your loan is affordable for you, our assessment team will determine your suitability, and ensure you have the means to comfortably make your repayments. If your application is successful, you will receive an offer from Swoosh. Once you have reviewed your details, the payment schedule and the loan costs, you will be able to sign your contract online.
Step 5. You receive your Cash upon approval
As soon as Swoosh has received your signed contract, we will transfer the amount directly into your bank account, typically within 1 hour (if signed contract received before 3:30pm (AEST)). You will be notified when the funds have been transferred into your account.
At this point it’s over to your bank to process the incoming funds into your account. Provided you bank with a ‘same day payment capable bank’ (Commonwealth Bank, Westpac, NAB or ANZ) your funds will appear in your bank account within one business day. If however you are not with one of the ‘same day payment capable banks’ we will transfer your cash directly into your bank account as soon as we’ve approved your loan but your funds may not appear in your account for 24-48 hours.