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“I need a loan urgently but have bad credit”, Swoosh can help!
Struggling with bad credit and need a loan urgently? Turned down for a loan in the past due to your credit score? Don’t worry! At Swoosh Finance, we understand that not everyone has a perfect credit history. If you’re in Australia and need a bad credit loan, we’re here to help. With our easy online application and fast approvals, getting a small payday loan has never been simpler.
You can borrow between $2,200 – $5,000 with a Swoosh loan. We serve locations all around Australia and try to give every Aussie the best shot at approval, no matter what their credit score is.
What are bad credit loans?
Bad credit loans are cash loans that are designed for individuals with a low credit score or poor credit history. Traditional lenders might reject your application, but Swoosh Finance offers you a second chance. As a private lender, we can provide loans to people with less than ideal credit, as long as they meet our eligibility and lending criteria.
How to apply
Our application process is straightforward and 100% online:
1. Complete the Online Application: Fill out the form on your mobile, computer, or tablet. It takes just minutes.
2. Get Approved: Receive approval within 60 minutes of receiving required information (during business hours)*.
3. Get Paid: Once you sign the contract sent to your email, we’ll transfer the money directly to your bank account.
How quickly can I get a loan for bad credit?
*Approval speed is conditional upon receipt of all requested relevant documents/information & usually comes within 1 hour during normal business hours/banking days. If you return your contract by 3:30pm AEST, your funds will be transferred overnight.
Apply online today
Why choose Swoosh Finance?
- Fast approvals: Apply online in just minutes and same day approval*.
- No hidden fees: Transparent fees with no hidden costs.
- Flexible repayments: Tailored repayment plans that fit your pay schedule – weekly, fortnightly, or monthly.
Eligibility criteria
To qualify for a Swoosh small personal loan, you need to be:
A permanent resident or valid visa holder of Australia
Over the age of 18
Employed with a regular income for at least 3 months
Own a vehicle registered in your name
Rates and fees
Our easy approval loans have no hidden monthly fees or charges, and there are no penalties for paying back your loan quicker.
| Loan amount | $2200 to $5000 |
| Application fee | $0 |
| Establishment fee | $400 |
| Other fees and charges | $20 |
| Annual Interest | 47% (Comparison Rate 66.0347%)** |
| Term length | 12 Months |
| Debit dishonour fee (if a scheduled payment is returned unpaid) | $39.95 |
| Repayment options | Weekly, fortnightly or monthly (based on your pay schedule) |
Interest is calculated daily based on the outstanding balance and is applied monthly to your account. And your interest rate is fixed for the loan term—so you know exactly what to expect.
Use our personal loan calculator to check what your repayments will be.
Find out more: Loan Rates and Fees.
Benefits of a low credit score loan from Swoosh
- Local expertise: Based in Australia, we offer local support to all our customers.
- Trusted by Aussies: With countless satisfied customers, we are a top choice for poor credit loans.
- Personalised service: Our team of friendly assessors reviews your application based on your current financial situation, not just your credit history.
Do you offer guaranteed approval loans for bad credit?
If you need a loan urgently but have bad credit, you will probably find it hard to get approved. Instead of being rejected by the big banks when they conduct their credit checks, Swoosh can help. We offer guaranteed approval on bad and even very bad credit loan applications for Australians who meet our eligibility & lending criteria.
No refusal loans
As long as you meet the eligibility criteria and our Australia-based assessors believe you can repay the loan according to the terms, we will not refuse your application based on your credit history.
Other quick loans available in Australia
We offer various loan types to suit your needs:
- Emergency loans: Get urgent funds when you need them most.
- Bond loans: Secure a rental property despite your credit score.
- Loans Against Cars: Use your car as collateral and keep driving while you repay.
- Small personal loans for low credit: Cover personal expenses with flexible repayment options.
- Short term payday loans: Short-term loans to cover immediate expenses.
FAQs
What is bad credit?
Good credit is typically above a score of 620 in Australia. Anything below can be considered bad credit. A bad credit rating is the result of a previous inability to meet financial commitments. This failure to meet your debt agreement may have been completely out of your hands, which makes the lasting impact of a low credit score all the more unfair.
What is the lowest credit score for a loan?
When it comes to obtaining a loan, the minimum credit score required can vary depending on the lender and the type of loan you’re seeking. While a credit score above 550 is generally considered a safe starting point for qualifying for a personal loan, it’s important to note that different lenders may have higher or lower requirements. Some lenders might accept lower credit scores or consider other factors, while others may demand a higher score for approval.
Why is my credit rating so low?
Several factors can contribute to a low credit rating. One common reason is late or missed payments on your credit accounts. It’s important to note that credit report inaccuracies and identity theft can play a significant role in lowering your credit scores as well. By regularly monitoring your credit report and addressing any errors or fraudulent activity promptly, you can help improve your credit rating over time.
Can I get a bad credit loan to consolidate debt?
Yes, you can! At Swoosh, we understand that it can be hard to stay on top of debt when you’re trying to manage multiple loans. And that it can be tricky to find someone who will look beyond your credit history. That’s why we offer debt consolidation loans!
How much does a declined loan affect credit score?
The short answer is that a loan rejection doesn’t hurt your credit score. However, if you continue to apply for loans and continue to be rejected in a short space of time, this builds up numerous “hard enquiries” regarding your credit, which can lower your score.
How to get a loan when no one will approve you?
Check out our blog for suggestions for what to do when you need a loan but keep getting declined.
Who will give me a loan when no one else will in Australia?
Swoosh has helped thousands of Australians with bad credit to get cash fast and improve their credit rating at the same time.
How do I borrow money ASAP?
Complete an online loan application with Swoosh – as long as you provide the information we need and you meet our eligibility criteria, you could get the funds in your account the same day.
How is your credit rating determined?
In Australia, values assigned to credit scores, ranging from 0 to 1200, determine your credit rating. When it comes to credit ratings, the lower the number, the worse the credit. And the worse the credit, the harder it is to apply for a loan with other credit providers.
Each credit bureau calculates credit scores differently, but the following factors tend to play a large role in determining a credit score:
- Comprehensive Credit Reporting information – including repayment history and credit limits
- Credit applications
- Adverse events – like missed payments and defaults
- Personal information
- Credit report age
Learn more about the factors that influence your credit score and how a small personal loan could help you improve it on our blog: Should You Get A Personal Loan To Improve Your Credit Score?
What is a no score loan?
No score loans are made for people who have little-to-no credit history.
Find out more: Loans for no credit history
Bad Credit Guides
Want to chat to someone?
Use our live chat or fill out the contact form to get in touch with a Swoosh Finance specialist
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The Swoosh difference
Our Cash Loans are available when you’re in a pinch — and we work hard to make it happen fast.
We put you first, ensuring you have all of the information upfront.
Swoosh Cash Loans give you the funds you need now from a lender you can trust.
