We’re here to help — not create more stress.
That’s why we give you all the information you need to know in advance.
FAQs (Frequently asked questions)
To make it easy for you, we’ve compiled commonly asked questions along with our straightforward answers.
If you’re not able to find the answer to your question, be sure to reach out to our Customer Care team. They’ll be happy to assist you.
Am I eligible for a Swoosh loan?
To be eligible, you must meet the following criteria:
- 18 years or older
- Employed for at least 3 months
- Permanent Australian resident
- Own a vehicle registered in your name, with no finance owing or encumbrances
How much can I borrow?
Swoosh Finance can lend you between $2,100 to $5,000, depending on your personal circumstances and ability to repay the loan.
Application process and timing
How long does the application take to complete?
The application process is simple. On average it takes under 5 minutes to complete the online application form.
How does the application process work?
We make it easy for you:
- Complete an online application and provide the necessary documentation
- Allow Swoosh up to one business day (it’s usually faster) to assess your application and ability to repay the loan
- Receive an application approval and loan offer from Swoosh
- Review the terms and repayment schedule and sign the contract electronically
- Receive the funds in your bank account!
It’s that simple!
How long will it take for my loan to be approved?
Different than other lenders, Swoosh utilises professional (human!) assessors to review your loan application.
Swoosh usually provides a 1 hour or sameday loan approval (if all the required information is complete).
Occasionally a loan application requires more attention and care to ensure we’re making the right decision.
How can I check my loan application status?
You can check the status of your application by contacting us directly.
Applying for a Swoosh loan
How long does an application take?
Our easy online application usually takes less than 5 minutes to complete.
What do I need to get started?
To apply all you’ll need is:
- Your online banking details (so we can access a read only report for the 90 days of account history)
- Commonly required personal details such as name, address, vehicle information, financial commitments, employment information, etc.
- Your BSB and account number (so we can easily direct deposit your money)
Do I need to give a reason for my application?
Swoosh always practices responsible lending. You’ll be asked to list a reason for your application.
If I have a current loan with another company, can I still apply for a Swoosh loan?
Yes, if you have other loans, you can still apply for a Swoosh loan. Because we practice responsibility lending, we’ll only approve your application if we believe you can afford to repay your loan.
Can I have more than one Swoosh loan at a time?
You can apply to refinance your loan with Swoosh.
What if I’m bankrupt or in a part IX debt agreement?
We still consider applicants that are in a part IX debt agreement or currently bankrupt.
Signing the contract
How do I sign my contract?
We’re 100% paperless! Even our signatures are electronic.
When you receive an offer via email, you’ll be directed to a secure page where you’ll sign your contract online.
A copy of your signed loan documents will be sent to your registered email account.
Transfer of funds
How do I receive my funds and how long will it take?
Within one business day of signing your contract, Swoosh will electronically transfer your funds into your bank account.
If you return your signed contract by 3:30pm (AEST) time, your funds will be transferred overnight.
How quickly can I reapply for a loan?
If you applied for a Swoosh loan in the past and it was declined, you may reapply as soon as you feel your circumstances have changed — enabling you to meet your repayment commitments.
If you’ve recently repaid a loan, you can reapply immediately. If you have a loan outstanding with us, contact us today to see what options are available to you.
Credit and employment checks
Does Swoosh do credit checks?
We conduct credit checks on every application. This is not, however, the sole indicator of whether or not your loan will be approved.
If you’ve had a default in the past we still do our best to help you. Different than a bank, our policies reflect our desire to help our applicants.
Will you be contacting my employer?
In some cases — like if your employment status or details are unclear — Swoosh may need to contact your employer or payroll officer to verify details and your financial situation.
Who is Proviso?
Proviso, is our trusted provider of read-only access for online bank statements.
All data sent to our server is encrypted with 256-bit encryption, secured by 2048-bit keys. This high level of security and encryption is the same level that banks use.
What level of security is used?
Proviso takes all of the required security measures (such as creating a read-only service, providing 256-bit bank level data encryption, and closing the connection with the bank immediately after the data has loaded).
Proviso also has their service tested objectively by an industry-leading security service.
How do you protect and store my bank information?
When you enter login information on our website, it’s processed through Secure Socket Layer (SSL). This means an encrypted connection is always created between your browser and our servers. And it’s kept encrypted at all times.
We only store information required by law which saves you the trouble of updating, syncing or uploading financial information manually.
What happens to the online bank statements you obtain?
The read-only bank statements help our professional assessors make responsible lending decisions. The statements are securely stored as long as necessary to manage your account.
What will my bank say about me inputting my login details into your website?
We would recommend reviewing the Terms and Conditions of your internet banking provider.
Before submitting your banking credentials, know that security is exceptionally importance to us:
- Your data is encrypted in transit;
- We don’t have any functionality over your bank account; and
- We only have access to a read-only service
Repayment and fees
What are my responsibilities?
At Swoosh, we’re all about mates helping mates. When applying, we ask that you consider your situation and apply only if you’re confident you’ll honour your promises to us.
Before you sign your contract, review your details, the repayment schedule and the loan costs.
Once you’re approved for a Swoosh loan, it is your responsibility to ensure you have sufficient funds in your account on your scheduled repayment dates. Swoosh may send you an SMS to remind you when your repayments are scheduled to be processed so you can ensure you have sufficient funds available.
As you build your trust rating with Swoosh, you may benefit from a faster borrowing process and may be able to borrow more on subsequent loans. However, if you default on your loan repayment, your trust rating will be affected and we may be unable to offer you further loans.
How do I make loan repayments?
Swoosh loan repayments are direct debited from your bank account and are scheduled in alignment with your current pay frequency. You may review your repayment schedule by contacting us directly.
How much does it cost?
We’re transparent with our fees. There are no hidden fees.
|Secured medium loans|
|for $2,100 to $4,600|
|Application fee: $0|
|Establishment fee: $400|
|Annualised interest 48%|
|Term length: 12-24 months|
|Repayment options: (in line with your paydays and based on loan term)|
|Direct debit dishonour fee:|
|A $25.00 direct debit dishonour fee may be payable if a scheduled direct debit is returned unpaid.|
How can I check the amount I owe on my loan and my repayment schedule?
You can review this information by contacting us directly.
What time will the repayment be direct debited?
The amount due will be direct debited from your bank account overnight.
What if I am unable to pay on my scheduled repayment date?
Loan repayments will be direct debited from your account on the agreed repayment dates. Avoid penalties by ensuring the required cash is available in your bank account as agreed in your repayment schedule.
Should you be unable to make your repayments on time, please contact Swoosh for a confidential discussion so we can determine how best to assist you. Conversely, Swoosh will contact you to understand any difficulties you may be having.
What happens if I miss a repayment?
In the event that you miss a repayment or have insufficient funds in your bank account, Swoosh will contact you prior to making subsequent direct debit attempts. At this time, you will incur a direct debit dishonour fee and your repayments will be rescheduled.
Our Loan Documents clearly stipulate a direct debit dishonour fee of $25.00.
What happens if I stop repaying my loan?
Swoosh realises things can happen. If you have any issues, email our Customer Care team — they’ll be happy to assist you.
If we don’t hear from you, and you stop repaying your loan, we may pass your account to an external debt collection agency. This is a last resort and we will be legally entitled to register a default on your credit file. This default will not be removed from your credit file for 5 years.
For these reasons, it’s important that you contact us as soon as possible if a payment declines.
What is Financial Hardship?
Financial hardship occurs when changes in your circumstances happen — such as employment status, illness or other reasonable causes that prevent you from being able to meet your loan repayments.
Depending on your circumstances, you may be able to apply for Financial Hardship Assistance.
Please contact our Customer Care team for a confidential discussion. We’ll assess your financial situation and let you know what options are available to you. Evidence of the change may be required. Upon making a request, our Customer Care team will advise which documents are relevant to your application.
What if I need Financial Hardship Assistance?
In the event of needing Financial Hardship Assistance, you may be required to provide supporting documentation such as:
- A Separation certificate (where termination has occurred)
- Centrelink benefit documents (if applicable)
- Bank statements for the previous or current month
- Proof of bills (e.g. phone, rent, utilities etc.)
- A budget
It’s important for you to contact us to determine which documents may be required.
If you haven’t received a response from Swoosh within 21 days of submitting your Financial Hardship application, please contact us to confirm that we’ve received your documentation. You can also forward a complaint to the Financial Ombudsman Service (FOS):
Is your website secure?
Swoosh’s website has a security certificate to protect your information. Swoosh is certified by Comodo RSA Certification Authority. Millions of businesses around the world rely on Comodo RSA Certification Authority to help them protect their most important information and assets.
What online security measures do you employ?
Your privacy and security is of paramount important to us.
How is my information stored and protected?
Any private details entered on our website are protected by a 2048-bit Secure Sockets Layer (SSL) encryption. This ensures that all data received between you and us is encrypted, as the protection of your information is one of our fundamental concerns.
What are your contact/business hours?
At Swoosh we work hard and play hard. Our Customer Care team is available Monday to Friday 7am – 5pm AEST (excluding public holidays).
Outside of business hours, you can email Swoosh at email@example.com and our team will aim to respond to your inquiry within the next business day.
What if I apply outside business hours or over the weekend?
If you’ve applied outside business hours we will review your application as quickly as possible the next business day. We may need to contact you to verify details or obtain extra information and documentation.
How do weekends and public holidays affect the service?
Swoosh is unavailable on weekends and public holidays as Australian banks often cannot process loan payments.
Policies and complaints
Where can I find your policies?
As a responsible lender, Swoosh practices transparency and honesty. Visit our policy pages for more information.
How can I make a complaint?
Swoosh makes every effort to help a mate in need. Your concern is our concern and your satisfaction is important to us. Swoosh is always finding ways to improve our service which is why we ask for your feedback. If you have a complaint, please contact us.
Want to loan from a lender you can trust?
Apply online with Swoosh today!