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Bad credit follows tens of thousands of Australians around for years, often through no fault of their own. This is why Swoosh offers Bad Credit Loans. These unfortunate financial situations can prove very hard to repair, depending on how severe the bad credit score might be. But with our simple online loan application and speedy approvals, you can get a loan for bad credit in a matter of hours and take the first steps to fixing your credit rating.
How Do Bad Credit Loans Work? Learn more here.
What is 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 bad credit score all the more unfair.
Values assigned to credit scores, ranging from 0 to 1200, determine a credit rating. Good credit is typically credit above a score of 620, while anything below can be considered bad credit. The lower the number, the worse the credit, making it harder to apply for a loan with other credit providers.
Bad Credit Loans – guaranteed approval
We’ve all been in a position where we’ve needed a quick loan, so at Swoosh we aim to make this as easy and streamlined as possible. When life catches you off guard with an unexpected medical bill or emergency car repair, emergency funds are required quickly and bad credit can hinder your ability to get it.
This is why Swoosh offers Bad Credit Loans. Instead of being rejected by the big banks for the money you need right now, we can assist. We offer guaranteed approval on loan applications with bad credit for Australians who need assistance fast.
Our rates and fees
Our bad credit loans have no hidden monthly fees or charges, and there are no penalties for paying back your loan quicker.
- $0 application fee (even if your application is not approved)
- Establishment Fee – $400 (included in the loan)
- PPSR and Security Check – $16 (included in loan)
Interest is calculated daily based on the outstanding balance and is applied monthly to your account. Interest rates are fixed for the loan term—so you know exactly what to expect.
If a scheduled payment is returned unpaid, we may issue a $35.00 debit dishonour fee. Find out more: Payday Loans Rates and Fees.
How to get a loan with bad credit online
If you’ve got bad credit, you can get a loan online with Swoosh. Our loans are based on your current situation, not your past credit reports.
We can offer Bad Credit Loans from $2,000 to $5,000 to people who are able to repay their loan. Our advanced online application only takes minutes, and approval follows shortly after.*
There’s no simpler way to get guaranteed approval loans for bad credit applications.
If you have a bad credit history and are seeking a short-term loan, get in touch with Swoosh today. Our friendly advisers can walk you through the easy application process and help you secure the cash you need.
Fast cash, bad credit – who’s eligible to apply?
To apply for a Swoosh Bad Credit Loan, you just need to be:
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
The owner of a vehicle registered in your name
Our application process is completely online and only takes minutes to complete. Our team of expert (human!) assessors quickly assess your loan application and your information is always secure with us.
Our Bad Credit Loans online process
At Swoosh, we keep things simple, making sure you can apply for a Bad Credit Loan online with ease.
Here’s our speedy 3 step process:
1. Complete an online application on your mobile phone, computer or tablet. Applications usually only take minutes.
2. Approval of your loan is provided within 60 minutes of you providing us with the information we require (during business hours)*. The decision will arrive promptly — right in your inbox.
3. After approval, an offer is sent to you via email. Once you’ve signed the contract, we’ll send the money directly to your bank account.
Our commitment to you:
- Help you get back on track
- Provide the cash you need, when you need it
- Make the application as easy as possible
- Approve your loan within one business day*
- Provide on-time and reliable payments
- Keep all of your information safe through our secure online system
Why choose Swoosh
✅ Responsible Lender
✅ Trustpilot Approved
✅ 100% Online
✅ Fast Approvals
FAQs
What are bad credit loans?
Bad credit loans are small cash loans available to individuals with a poor credit history who might ordinarily be denied a loan by a traditional lender.
How can I get a personal loan with poor credit?
Simply apply for a Swoosh bad credit loan online. Swoosh is a responsible lender, which means that we will only loan an amount that you can comfortably repay now. And we make sure you have all of the repayments information in advance—so there are no hidden surprises.
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. The best advice we can give is to apply for a cash loan without credit check if you have been rejected recently.
How can a loan improve my credit score?
Believe it or not, securing a loan and repaying it successfully can actually help to improve your credit score. By paying your monthly bills on time, you’ll find that your credit history will gradually improve. If you find that it’s hard to manage multiple debts, it might be a good idea to look into getting a debt consolidation loan, so you only need to make one recurring payment.
How is Swoosh able to offer bad credit loans?
For those who find themselves financially secure after a history of bad credit, it can still prove very difficult to borrow money.
Rather than focusing on your bad credit history, our team of expert (human!) assessors carefully examines your current financial situation to make sure you’re able to make the loan repayments. This is how we can offer those with unfortunate histories a second chance to get the loan they need.
How much can I apply for?
You can apply for a bad credit loan of anything between $2,000 and $5,000.
What are your rates and fees?
You can find these out on our Payday Loan Rates and Fees page.
How quickly can I get a loan for bad credit?
Unlike banks and other lenders, Swoosh doesn’t require extensive paperwork. We use a simple process that’s 100% online. We only need a few pieces of information from you plus 90 days of bank statements. Approval usually comes within an hour of providing us with the information we need, so the majority of our customers receive their bad credit loan the same day.
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Want to chat to someone?
Use our live chat or fill out the contact form to get in touch with a Swoosh Finance specialist
