Quick Answers to Your Cash Loan Questions
If you're new to taking out a short-term loan we understand that you may have lots of questions, so we've put together the most frequently asked questions. If you can’t find an answer to your question, please Contact Us.
Applying for a First Stop Money Loan
How much can I borrow?
The minimum loan size is $100 and you could get up to $800 on your first loan. Once you’ve repaid your first loan, you can reapply for up to $1500.
When you reapply online it may be possible for you to borrow a higher loan amount, but, like all of our loans, this will be based on affordability and suitability at the time you apply. The application process is a lot faster the second time because we have most of your details already.
Can I apply?
We only have a few basic requirements for you to apply online. As long as you are over 18, earning over $1200 a month through steady employment and an Australian resident then you can apply online.
All loans are subject to an assessment of affordability and suitability.
How do you verify my details?
Once you have e-signed your loan contract with us, we will need to verify your income and outgoings by retrieving your last 90 days' worth of bank statements - as required by law when taking out a short-term loan. We make this quick and easy using Decision Logic's secure online bank verification. It saves you time by automatically retrieving and sending your last 90 days bank statements to us.
With bank level security, Decision Logic protects your information using a 128-bit encryption.
Do you check my credit score?
Like most lenders, we carry out an assessment to ensure the loan is affordable and suitable for you. We will not check your current credit score, however we will assess your last 90 days worth of banking statements. We do things differently to banks and mortgage lenders, so you get cash fast.
Can I have more than one loan at a time?
If you already have a short-term loan with us, you may be eligible to re-borrow after your current loan has been repaid. As a responsible lender we want to make sure that you can affordably repay your loan without any issues and that the loan is suitable.
If you are currently repaying a short-term loan from another lender or have any other financial commitments when you apply, we will take this into consideration while assessing your application.
Is there a restriction on the number of loans I can take our over time?
We make sure that the loan you are applying for is affordable and suitable for your needs, this includes consideration of loans you have with other short-term lenders or any other financial commitments. When you apply for a third loan within a 90 day period, we are legally required to review your circumstances in greater detail. So although there is no restriction, it may affect your eligibility.
How fast will I get the money?
Once approved, we usually transfer the funds on the same business day. From there, your bank can take a few hours or up to a couple of business days to clear into your account.
How do I get my money?
Once approved, your cash loan will be paid straight into your bank account. Depending on your banks processing times, it may take some time to clear. This is usually between a couple of hours for most banks, up to a couple of business days for others, depending on who you bank with.
My personal details or bank details have changed.
If your details have changed, please call us on 08 9420 1480 during business hours and we can help you.
My repayment is soon and I don’t think I can pay.
We know that things change and your circumstances may be working against you. If you are having problems and think you won’t be able to make a repayment the best thing to do is call us on 08 9420 1480 and we’ll do our best to help you.