$50 to $5,000 paid out by 15:54 *

Payday Loan Alternatives

Fast 3 to 36 Month Online Loans

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Payday Loans You Can Borrow Up to $10,000

Whenever you need to get fast cash, you may want to take out a payday loan. You may have bad credit and feel like you do not have many options due to that reason. However, you can get available loan alternatives with options that you can check out for yourself.  

Payday Loan Alternatives in Australia

In Australia today, payday loans continue to be popular among Australians who need credit and need it fast. However, they may be popular, but that doesn’t mean that they would make the right option for you.   

In some years from now, there has been a massive growth in the short-term lending business. The last few years have seen exponential growth in the market for short-term lending. However, some red flags that the lenders of payday loans are getting due to their inconvenient repayment terms and high costs are often rigid. As a result, individuals are now highly interested in looking for alternatives to these loans.  

 This point is the point where IAFC comes in. When you work with us, you do not need to go through several lenders who promise to give you a loan potentially. Instead, our lender finder service will try our best to pair you with the most suitable lender that will provide you with an accurate loan facility without hassle.  

To get started, let us first look into emergency cash loans and what they offer.

Need a loan today? Apply online!
 

Alternative to Payday loans – What are they?


According to ASIC, these loans are known for their short term, high costs and generally small amount-loans of up to $2000. Repayment terms can range between 16 days to a year. Lenders first started offering them to help those with emergency cash needs to cover whatever their expenses are until they get paid on their next payday. This is also how the loan got its name. Paying a payday loan can be done via.

  • Deducting your pay
  • Directly debiting the amount from your bank account

If your credit history is less than perfect, there’s a very good chance that you’re looking for loans without credit checks when trying to find a lender. These days, however, cash loans aren’t the only options available for you if what you’re looking for is a same-day credit, there are alternative loans for you to choose from.

IAFC can help locate lenders for you that can offer cash loans fast.

Alternatives to payday loans


If you’re considering the possibility of applying for a payday loan, it would help to first look into potential alternatives that are out there. Whilst it’s true that payday lenders can easily make you feel that their loans are convenient, easy and fast, you’ll be surprised at how there are a host of other options out there.

Get in touch with your utility company


It is possible for utility companies to offer assistance to customers that are having a hard time getting their bills paid on time. They usually have a financial hardship department and adviser that can assist you. There is a possibility for you to negotiate potential payment options or payment arrangements in their management if you ever find it hard to get your bills paid on time.

If there ever comes a point when you feel that you‘ll never be able to get your gas, water or electricity bill paid on time, get in touch with your provider and see what options they can offer.

Advance payments for Centrelink recipients

If you’ve qualified for government benefits, you may potentially get access to extra cash via advance payments. This is an arrangement where you get a fraction of your Centrelink benefits earlier than scheduled. The amount then gets repaid out of future Centrelink payments you will be getting. What’s great about this arrangement is that it’s interest-free.

Compared to payday loans or an online loan specifically designed for Centrelink customers would be a better, more convenient option for you.

Remember that advance Centrelink payments aren’t going to be eligible for every Centrelink recipient. You can check ahead of time if you are qualified or not by getting in touch with the DHS or the Department of Human Services.

Loan schemes with no interest

There are charity groups that will be able to offer you a loan without getting burdened by the interest rate. For instance, there’s the No Interest Loan Scheme or NILS that’s targeted for low-income individuals. However, they impose certain eligibility requirements for you to qualify. If you’re a low-income earner and have to cover for medical treatment and household necessities, this loan type may work ideally for you.

Whilst the NILS setup is indeed a good option for borrowers who are earning small and don’t want to get troubled with interest costs, it isn’t for everybody as certain requirements must be met in order to be eligible. In addition, there are only limited expenses that the loan amount can then be spent on.

IAFC’s lender locator service— an alternative to payday loans


An alternative you can consider is IAFC’s lender finder service. We offer a no-paperwork application process and we can potentially find you the right lender in just 60 minutes. We specifically work with lenders known for offering personal loans with a maximum loanable amount of $10000. Compared to the loans that payday lenders offer, these personal loans may offer more flexibility.

Payday loans with no credit checks – No Credit, How do they work?


If you’re keen on applying for a payday loan without a credit assessment, this means that the lenders aren’t going to check your credit report. What they will do, instead, to assess how suitable a borrower you are is to look at how much income you’re earning and what your regular expenses are going to be.

To serve as evidence for the loan, you may need to submit the following:

  • Centrelink statements or payslips
  • Copies of your utility bill
  • Copies of any credit contracts
  • Statements of property rental to show whether or not you have kept up with your obligations

How long it would take for the loan to get approved tends to vary between lenders. In addition, not all lenders will be able to offer payday loans without any credit checks.

Bad Credit Loan Alternatives

Are payday loans unsafe? – To Borrow or Not to Borrow?


There are instances when a payday loan may not seem to be a good credit option. Still, there are some aspects of the model with which payday loans are based on that have been subject to criticism among customers.

Ignoring responsible lending practices

Payday lenders have always been accused of promoting irresponsible lending practices.

For instance, these lenders have been known for offering loans to borrowers who are potentially not qualified for the kind of loan they’re being offered with. There have been many times when they still choose to lend money to borrowers who cannot possibly have the means to repay what they have borrowed in the first place.

Inflexible repayment terms

The short and rather inflexible repayment terms of payment lenders have also been subject to criticisms payday lenders have been known for slapping their borrowers with even heftier penalties and fees if they feel to get the loan repaid within the short term they have agreed on. This is where it can get dangerous for borrowers since the debt has the potential to snowball if one isn’t careful.

Note that lenders may likely charge fees for late payments. This is why it’s important that you take a good look at the contract and understand its provisions before affixing your signature.

Getting into a vicious debt cycle

Some people end up falling into a debt cycle where they are forced to take out new loans to pay for existing ones. Many people have experienced having their debts spiral out of control that it’s next to impossible to recover.


Payday loans with guaranteed approval no matter what – Read Contracts Carefully


There is no such thing as a loan with guaranteed approval payday loans. However, lenders do try their best to get a bad credit loan application assessed as soon and as fairly as they can. Regardless of whether you’re signing up for a $15000 loan or one worth $5000, every lender would always aim for approval, but only after they have deemed that the customer is eligible for such and the loan he is applying is within his paying capacity. It wouldn’t cost you anything to use the lender finder service IAFC is offering. In addition, you’re also not in any obligation to accept any loan that is offered to you.

Credit providers are also legally required to carry out proper assessments to determine whether a loan contract is suitable for a borrower or not.  This is why if there is a lender that offers guaranteed approval despite the consequences of the borrower, then you cannot expect them to practice responsible lending practices.

Is a good credit rating necessary to get approved for payday loans?


Typically, you don’t need a stellar credit score just to get approved for a payday loan.

There are payday lenders that will choose not to conduct credit checks at all, although there is still no insurance if you loan will get approve. Still, there are choices outside of payday loans that you can go for especially if your credit score is a bit disappointing. 

For instance, IAFC may be able to get you in contact with lenders that offer personal loans. For these types of loans, even when a credit assessment is performed, lenders will still give your approval a chance because we have lenders in IAFC who are known for focusing on a borrower’s current financial standing and capacity to repay the loan instead of just his credit score alone. This is why Centrelink with no credit check payday loans are not your only option if your credit is bad.

Can a payday loan application get declined?


Yes. It is, after all, just any kind of credit out there. Payday lenders may choose to decline the application if they feel that you do not fit the requirements they have set.

There are a number of reasons that your application could get the thumbs down from the lender. Payday loan applications can be denied for the following reasons:

  • Your income source isn’t verifiable
  • The lenders think that you may not be able to reasonably afford the loan repayments

 

Bad Credit Payday Loans

Is it possible to go to prison for non-repayment of payday loans?


Nobody goes to jail for failing to get a payday loan repaid.

Note that credit providers have the option to get your files passed to debt collectors if you still refuse to pay. These debt collectors may get in touch with you via letter, phone, social media, email or even in person. However, you are protected by certain rights against debt collectors.

For instance, debt collectors can only contact you 3 times a week and shouldn’t get in touch with you during national public holidays.  

To know more about your rights on how to deal with debt collectors, you can visit ASIC’s Moneysmart page.

Are payday loans for bad credit borrowers available?

There might be, yes.

The reason that payday loans are highly attractive among borrowers is the fact that they can be processed in such a short time, perfect for those people who are looking to get access to cash fast. In some cases, it may even be possible for the borrower to get a payout during the weekend.

It’s important, however, to remember that this isn’t always going to be possible. Banks don’t normally operate on weekends which prevents them from processing cash transfers beyond their normal business hours. This is why if and when your application gets approved on a weekend, you may have to wait until the next business day to get access to your cash.

This is why if you’re looking for payday loans, it is always best to consider a potential alternative. 

At IAFC, you can send in an application and get matched with lenders without any stress or hassle on your part. More importantly, these lenders will allow you to borrow from $300 to $10000.

Are there weekend payouts for payday loans?


There might be, yes.

The reason that payday loans are highly attractive among borrowers is the fact that they can be processed in such a short time, perfect for those people who are looking to get access to cash fast. In some cases, it may even be possible to obtain a weekend payday loan

It’s important, however, to remember that this isn’t always going to be possible. Banks don’t normally operate on weekends which prevents them from processing cash transfers beyond their normal business hours. This is why if and when your application gets approved on a weekend, you may have to wait until the next business day to get access to your cash.

This is why if you’re looking for payday loans, it is always best to consider a potential alternative. 

At IAFC, you can send in an application and get matched with lenders without any stress or hassle on your part. More importantly, these lenders will allow you to borrow from $300 to $10000.

How is IAFC different?


IAFC provides a lender locator service. If you are ever in need of quick cash advance or when an unexpected expense comes up, trust that we will always be happy to help. Instead of having to spend time scouring the internet for a potential lender or sending in a bunch of applications in the hope that one lender will finally offer you a loan, all you need to do is send in a single application at IA FC and we will take care of the part about looking for a lender for you.

The lenders we work with typically offer borrowers with fast loans that can cost around $300 to $10000. Whether you’re looking for a smaller or larger amount, IAFC may be able to assist you. As far as repayments go, you have the option to repay the loan between 12-24 months but this all depends on how big or small the loan you’re taking out is. Whilst it is always the lenders that will have the final say, you can trust that they will always work with you to ensure that they will offer the best plan possible.


Who can apply for payday loans?


Whilst IAFC does not work with payday lenders, to qualify for the lender locator service we offer, you first need to meet the criteria listed down below:

  • 18 years or older
  • A citizen or permanent resident of Australia
  • Is receiving an income for the last 3 months via your personal bank account
  • Has a working email address and personal mobile number

If you have met all these requirements, then you can send out an application through IAFC. We know that life is already hectic enough, our goal is to make it easier for you to get access to extra funds if and when you need it via our lender locator website.

Can you find loans with no credit checks?


People looking for no credit check loans are usually those that are worried about their poor credit ratings. They fear that their dismal credit score might get in the way of them getting approved for a loan. Fortunately, this doesn’t always happen.

IAFC, for instance, works with a network of lenders that will take a look beyond your credit score. This means that they will be more than happy to consider what your current financial state is and where you stand where money matters go to decide whether to grant you an approval or reject your application altogether. With these lenders, you can trust that your credit score isn’t the only determining factor on whether to deny or grant the loan.

Instead of going straight for payday loans, you can consider getting loans available for people with bad credit instead. They may make for a very handy alternative to payday loans.

What options are available for Centrelink customers?


If you’re a Centrelink recipient, you might want to consider taking out a payday loan because you feel that payday lenders will be more lenient towards your current state as opposed to traditional lenders. Whilst traditional lenders and banks are less likely to consider your loan application, there are a number of licensed lenders around who may be more than happy to help.

IAFC can then get you in touch with potential lenders— reputable and legit ones, of course— who can possibly consider your regular Centrelink payments as some form of income.

Alternative Bad Credit Loans

What are the ways I can get out of payday loans?


There are a few things you can do that will help you get out of a payday loan debt. For instance, you can try and earn more income so there will be more disposable cash available for you. You can also try and minimise your expenses as best you can— until such time as you have at least paid off the loan. Unfortunately, all these are so much easier said than actually done.

Alternatively, you have the option to use the lender locator service that IAFC offers who can potentially locate a lender for you that will offer loan consolidation. This loan can be a big help for borrowers who are having a hard time covering their bad credit debts. This allows you to consolidate everything into one single loan, with a single interest rate and a single repayment date every month. It makes it easier to manage as well.

Despite your bad credit history, IAFC may be able to assist you towards finding a lender that can get your loans consolidated for a maximum amount of $10000.

Can IAFC help me find alternatives to payday loans?

If you’ve been desperately searching for online lenders that offer instant approval for an emergency cash expense, consider IAFC’s lender locator service instead. We can search our network of lenders that offer hundreds of loan products to find the right lender and the right loan for you. If you have been desperately searching for a loan that you can get approved for fast, IAFC’s lender locator service may just be right for you.

Bear in mind that the IAFC does not work with lenders that offer payday loans. instead, when we get you paired with a potential lender that can possibly offer you a loan, it will generally be a personal loan which can be a better and more ideal alternative to a payday loan.

Why take out personal loans?

There are a number of reasons that more borrowers would prefer personal loans over payday loans if they can get access to one. Below we list down some of the common reasons that you are better off signing up with a lender offering personal loans than those offering payday loans.

  • Larger loanable amount: it’s common for payday lenders to only offer up to $2000 loans. Lenders that offer personal loans, however, offer up to $10000. This is more ideal for people that need to borrow a much larger amount.
  • Flexible repayment terms: Getting the loan repaid is easier and more manageable too. You will get several months to get it paid back where you have the option to make the payments done monthly, fortnightly or weekly. Compare that to payday loans where you only get up to a month to repay what you owe and personal loans will indeed be more ideal.
  • Can be used to pay for any personal expense: Consumers also have more freedom on where to use and how to use the funds from a personal loan such as paying for your mortgage, electric bills, and such.

How does it work?

If you wish to apply for instant cash loans through IAFC, you’ll appreciate how straightforward and streamlined the process is. All you need is a few minutes to get the application set and ready. As long as you are on a device that will get you to access the internet, you’re good to go.

Step 1: Send an online application

To send in an online application, just scroll up and use the loan slider right at the top of the page. The loan slider is designed to help you get an idea of the likely repayment terms of the amount you intend to borrow. All you need to do is input how much you prefer to borrow and what your ideal repayment terms are.

There will be examples of what the repayments are going to look like you. However, it’s important to understand that the final costs may not be the same as the example that the loan slider will provide. At the end of the day, the final charges, fees and overall costs of a loan will be up to the lender.

If you’re happy with the sample loan terms that are reflected on your screen, the next step is to click on Apply Now. This will take you to the application page where you’ll be required to fill in some more details about you. Once that is done, you can click submit.

Step 2: We get working

Once you have successfully submitted your application, it’s our turn to get the work done. We will do what we can to get you paired with a lender as soon as we can. 

Step 3: Meet your lender

One we get you matched with a lender, they will proceed to get your application assessed. If they are able to make you an offer, they will communicate directly with you.

When you decide to apply with IAFC, you get to skip the part where you have to search for a lender by poring through hundreds and hundreds of providers out there and sending a bunch of applications to each one. All you need to do with IAFC is send in one application and we will take care of the rest.

Taking Out A Loan – Why should I consider alternatives to payday loans

Borrowers looking to sign up for a loan but don’t wish to deal with traditional lenders like banks, an online personal loan is one alternative you should look into instead. Applying for a personal loan could only take minutes and not days as you would require if you were applying for one at a traditional lender. When you need cash fast, the last thing you want is to go through a number of hoops just so you can get approved.

You’ll probably also be wondering if your reason for taking out a loan is going to be accepted by the lenders. Fortunately, for personal loans, lenders are known to accept a bevy of reasons. The loan can, after all, be used for a whole host of personal expenses. Among these are:

Holiday expenses

If life is starting to feel a bit hectic and you want to get away for awhile but your finances aren’t really in the right state, you won’t need to have to postpone taking the much-needed trip anymore. A personal loan would be a great option for you to get that much-needed cash boost so you’ll have enough to spend towards your holiday expenses. IAFC can help locate the right lenders for you that will offer between $300 to $10000 of personal loans.

Car repairs

Car troubles can get you when you least expect them. Worse, they might hit you when you don’t have extra cash saved up for the costs involved. If your monthly budget is just barely enough to cover your regular expenses, then it can be a bit of a challenge to get your ride fixed as soon as possible.

Why not maximize IAFC’s lender locator service instead and let us help find you a lender that can help you get access to funds enough to cover for a vehicle repair? Our application is streamlined and easy and fast and can get you connected with the right lenders in just a few minutes. It is even possible for you to take out a personal loan to pay for the costs of a car registration.

Rental bond

If you have plans to move out of your current place soon but couldn’t get enough funds gathered up to cover for the rental bond for a new place, a personal loan can be a great answer to your dilemma. You can borrow between $300 and $10000 to cover for the expenses involved.

Any emergency expense

Even despite all your best efforts at getting your budget set as best as you can, something unexpected might still come up. For those times when something unexpected and you’re totally unprepared for comes up, as long as it is within $300-$10000, a personal loan would serve as the ideal solution for you.

Different types of personal loans

We work with lenders who are known to offer three different types of personal loans. You might want to consider the following loans listed below if you are looking for better, more flexible alternatives to payday loans.

Note that loan repayments may significantly vary from one lender to another.

Small loans

Small loans are personal loans between $300 and $2000, generally unsecured and are supposed to be repaid within a period of 12 months. Since they are unsecured loans, there isn’t any need for you to attach an asset to the application to secure approval. All you need to do is send in an application and wait for the outcome— which is generally in no time! With small loans from IAFC, expect to experience a hassle-free application process from trustworthy lenders.

Fees will be dependent on the specific lender offering the loan. Most of the time, there may be ongoing fees and an establishment fee of 20%.

Medium loans

If you need a much larger amount, the lenders in our network are also known for offering medium loans which could range from $2000 to $4600. Loans of this amount can be repaid within a 13 month to 24 month period. Loans like these are secured though and will require an asset such as a motorbike, car, caravan or boat to get approved.

Large Loans

If you need an even bigger amount, you can also avail of large loans. This can be between $5000 and $10000 with a repayment period of 13 to 24 months. Just like medium loans, this is also going to require an asset to secure the loan. Application is still only going to take a few minutes at IAFC where you won’t have to deal with the hassle of searching through hundreds of available lenders and loan products.  

Whatever it is that you’re looking for, trust that IAFC has something to offer, no matter how much the expense you need is going to be.

Enjoy 24/7 alternative to payday loans with IAFCs

Whilst there are payday lenders that may offer payouts during the weekends, IAFC can offer a better and more useful alternative.

Expenses aren’t really going to wait until such time as you are financially established as you come around. This is the reason that we have made sure that our lender finder service is available to our consumers 24/7. Get started today and you may just get paired with a lender in just an hour!

Do keep in mind that applications sent outside our regular working hour may experience some delays in getting paired. This means that you may have to wait until the next working day to get an outcome.

Responsible lenders and IAFC


As we have mentioned, IAFC only works with lenders that are known for taking their role in responsible lending practices seriously. If you’re wondering what these obligations are, the ASIC or the Australian Securities and Investments Commission has designed specific sets of rules that lenders are expected to observe to ensure that they will be providing customers with credit contracts that are suitable to them.

Consumers need to be aware of the following details in their contract as they are deemed to make the whole agreement unsuitable:

  • The consumer cannot afford the repayments or will be under considerable financial duress when doing so
  • The objectives and requirements of the consumer aren’t met by the credit contract.

This is why if lenders are truly committed to upholding their obligations, they are expected to follow the next steps:

  • Make an inquiry into the financial situation of the consumer.
  • Take steps in verifying the financial situation of the borrower.
  • Assess whether the credit contract will be appropriate for the consumer or not.
  • Provide a written copy of their assessment if requested to do so.

If IAFC gets you paired with a lender, you can trust that they will have a credit licence and that they will follow responsible practices as far as lending money goes. 

Verify your income

IAFC also partners with lenders that can easily get your income and your expenses verified in no time. This is because our lender partners are known for using the latest in technology in safe banking when conducting their assessments on loan applications.

Lenders can get access to read-only copies of your bank statements. This allows them to verify how much income you are earning. At the same time, this gives them an idea of whether or not you have the means to afford the repayments involved if they were to grant you a loan. As a result, you can be sure that these lenders will only offer alternatives to payday loans that you can afford.  

Understand that IAFC is unable to get you paired with lenders that offer payday loans where no bank statements are required. Part of sending in your application is to provide IAFC with your banking details.  

Financial hardship

Our network of trustworthy lenders at IAFC will have their respective hardship departments that can handle those instances when it gets way too difficult for you to afford your loan repayments. This is why if there is ever something drastic happens that will change your life and your financial state considerably where you get a bad injury or you lose your job, you have the option to file for financial hardship.

Your lender can get your claim assessed for financial hardship. Once approved, the lender may offer you an alternative plan to get the loan repaid.

Flexible repayment choices

Consumers have the option to decide how any months they would prefer to get the loan repaid. Also, consumers have the option to go for a monthly, fortnightly or weekly repayment plan. Repayments can be done within a 12-24 month period.

A credit check may be carried out

The lender that you will get paired with may choose to conduct a credit assessment or they may not, but remember that this is part of their lending responsibilities. However, you can trust that your credit score isn’t going to be the only thing that they will focus on.

In addition, lenders will likely focus more on your current financial state. This is why even despite having poor credit, you may still get a good chance at getting approved.

Reliable customer service right when it’s needed

IAFC works with lenders that are known for offering excellent customer support and service. But IAFC is more than that. If there are ever questions about our lender locator service, you can always send you questions and inquiries to us via our website.

When can I expect to receive my payday loan alternative?


Access to your funds will vary considerably, depending on certain variables.

Typically, the lenders will start working on getting the funds transferred to your account right after the loan contract has been approved. It may be possible for you to receive the loan funds on the very same day of the contract approval. In most cases, you may have to wait until the next working day to receive it.

Are you in need of same-day loans? IAFC may potentially get you paired with the right lender.

Ready to send in your application for alternatives to payday loans?


Just complete the easy and quick online application form on our website and we will then get to working towards poring through our hundreds of partner lenders to find you the right provider that can offer the ideal short term loan for your needs.

Why settle for second best when you can just rely on IAFC to get you connected with the right lenders with the right loan products. Even when you’re on Centrelink benefits or are unemployed, trust that IAFC will still do what we can to help.

Get in touch with us today!

Don’t let the information overload intimidate you! Any questions you may have regarding our service or need our advice, you can just easily send it to us via hello@iafc.com.au. You can also check out our FAQ page to find out many of the commonly asked questions consumers ask about our service.

Keep up with what’s new at IAFC by following our social media pages.