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How To Get A Large Bad Credit Loan

It’s no longer impossible to secure a huge amount of bad credit. Despite the fact that lenders view people with bad credit as high-risk borrowers, specialised lenders will agree to the deal as long as you submit the right application. In fact, not all lenders look at the credit score at its face value. Some lenders may actually refuse someone with a high credit rating due to failure of meeting other lending requirements. Find out how to get a bad credit loan below.

It is a new niche market

Lending has changed since the big bank tightened their rules around lending. A bad credit lending institution will grant some loans despite a low credit score as long as the loan applicants are willing to improve their scores. If you are unable to secure affordable loans from mainstream lenders, you may still be able to access funds from a specialised lender if you meet their criteria.

Bad credit loans backed up by collateral will increase your chances of getting a larger loan

The presence of collateral reduces the risk for the lender; should you default on the loan the lender will be able to use the collateral as reimbursement.

The key is to offer collateral that matches the value of the amount you would like to borrow

There’s a huge difference in offering $2000 worth of collateral for a $30,000 bad credit loan. The value of the attached asset must be equivalent or higher than the loan it secures.

Income outweighs a poor credit score

While it is not easy to get approval for unsecured loans, lenders will look favorably on applications with proof of substantial income as it validates your financial capacity to repay the loan. Mainstream lenders usually require tax returns, payslips, account records and other forms of documentation to verify proof of income.

What if I can’t prove my income?

Specialised lenders like Australian Lending Centre use other means to verifying your credit rating and capacity to repay the loan. This means you can still obtain a loan despite the absence of some documents required by traditional lenders.

Cosigners assure lenders that no matter what happens, the monthly repayments will be made

If you cannot offer collateral equivalent to the value of your loan, you can look for a cosigner who will then be considered as your security option. Consigners guarantee lenders they will receive the loan repayments on time. If you were to default on your loan your cosigner will fulfill your debt obligation on your behalf.

But, there’s a catch – your cosigners must have excellent credit history. They must prove that their income is substantial enough to cover your repayments if you fail to do so.

Online lending has a bad reputation of making people with bad credit vulnerable to fraud. How do I make sure that a bad credit loan is suitable for someone like me who is struggling with debt?

Online lending is a convenient financing platform. A lot of people can easily apply for finance by simply completing an online form that only takes a few minutes to finish. However, it is your responsibility to differentiate a genuine company from a fraud.

First, look into the company profile

A lending firm that does not reveal its address nor gives away company information is a huge red flag. Be careful who you supply information to. Legitimate lenders will ensure the privacy of your personal details by using tight security measures whilst fraudulent firms will most likely use those details for illicit actions.

Second, check the comparison rates.

Don’t just focus on the interest rate. Australian companies must always list a comparison rate next to their advertised interest rate. The comparison rate is the true cost of the loan, it factors in the interest rate, fees and other charges that may be associated with the loan.

Third, study your financing options

If your situation is not desperate it is always better to consider your options and take your time when making decisions. Choose the loan that secures your debts and builds your credit at the same time. Additionally, be sure to borrow only through a stable financing company with a good reputation.

Look for a reliable and reputable lender that offers practical solutions to your financing needs. Make sure you only sign with a lender that gives you an affordable interest rate despite your low income and/or sub-par credit score. Remember that bad credit loans can help you build a strong financial profile, which will ultimately qualify you for a better future.

Bad Credit Loans

No Guarantor Bad Credit Loans Explained

Having bad credit can be stressful. That’s because a bad credit history has immediate consequences on your financial future. It impairs your ability to get a home loan, a personal loan or any other form of credit. If you’ve defaulted on loan repayments, applied for a credit card or entered a debt agreement, all these aspects can significantly affect your finances for years to come. Fortunately, no guarantor bad credit loans are a possibility. Find out your options below.

How can I get approved for bad credit loans?

Obviously, there are some things you can do to maximise the likelihood of getting a suitable loan, such as the following:

Avoid making numerous credit applications simultaneously

This may seem like the guaranteed way to obtain a loan; in fact, the more applications, the higher the odds of getting a loan, right? In fact, that is far from being true. This is a red flag to lenders, even for those who provide bad credit loans. This strategy could deter you from accessing credit in the future. If you already did that, you should at least wait for a while until you make other applications.

Use a personal loan calculator

Personal loan calculators can be genuinely helpful. You can use one to determine if you can afford to make repayments for a certain loan or not. Bear in mind that lenders will accept your application only if you have the financial means to make repayments. This applies to both bad credit loans and conventional loans.


Check your credit score to know where you stand

Let’s say that you already know that your credit rating isn’t the best. However, we advise you to have it checked. This way, you can verify your standing point. Apart from that, your credit rating may contain mistakes and inaccuracies. In this case, you can have them corrected.

What are my loan options if I have bad credit?

If you want to get approved for bad credit loans without a guarantor, this reduces your options. The primary reason why it is recommendable to opt for guarantor loans is that this increases your reliability as a borrower, maximising the likelihood of obtaining the desired financing. However, you can also opt for the following:

Secured personal loans

An option would be getting a secured personal loan, involving collateral such as the equity in your home or another significantly valuable asset. This way, a lender would be more willing to provide you financing, overlooking the negative listing on your credit history.

However, the obvious risks that come with the territory are that if you default on the loan, you’ll end up losing the asset placed as security. Even so, without collateral and guarantor, your chances of getting a loan are minimal, unfortunately.

Short term loans

If you want to borrow a fixed sum, up to $2,000, you could pick a short-term loan from a payday lender. The thing is that these lenders don’t concentrate on your credit history. In fact, they are much more focused on your current financial possibilities and capability of making repayments.


What Else Should I Consider?

It’s important to note that bad credit loans with no guarantor are high cost. This is a general rule. So, you should know what to expect if you do decide to go for it. Obviously, these loans involve high risks for the lender. Therefore, it makes sense that the lender would charge enormous fees.

And lastly, bear in mind that numerous disputable lenders operate in the realm of bad credit loans. In other words, you should pay attention to scammers that might claim to solve all your financial difficulties, irrespective of their severity.

So, we strongly recommend you to double-check each loan and its specifications noted in the fine print before signing any documents. ASIC has actually warned Australians that they should be doubly wary when it comes to applying for bad credit loans due to the high-interest fees and inflexibility. Apart from that, the repayment period could be shorter than in the case of conventional loans, which would make it even more challenging for you to deal with the situation.

Additionally, make sure you factor in the additional fees, which are added to the costs of the loan, aside from the interest rates.


When you apply for a no guarantor credit loan, you should be wary and attentive to the loan terms. If your financial position allows you, you should wait a while until you may afford to get another type of loan, to avoid paying a significant amount of money in interest fees and other charges.

By all means, choose a reliable lender. On that note, contact us for a free consultation and assessment for your loan enquiries as our experienced specialists are keen on helping people with bad credit and provide them with excellent services. Call us now on 1300 138 188 or enquire here for our bad credit loan option today.

Business Loans

Types Of Business Bad Credit Loans

If you have bad credit, you might feel discouraged, especially if you want to start a business. Whether you intend to establish a start-up or you need financing to keep your business running, you should know that there are some alternatives you should consider if you’re struggling with bad credit. Fortunately, there are several different types of bad credit business loans you can get to help finance your business.

The good thing is that, in spite of your bad credit, the door to obtaining financing isn’t completely closed. The bad thing, however, is that the choices are far from being ideal, and are rather limited.

Banks and lenders will base their decision of offering you financing depending on the credit risk of your company. Here’s what you should know about getting business bad credit loans.

Credit Card Financing and Home Equity Lines of Credit

If your credit isn’t the best, the odds are that you’ll encounter difficulties in qualifying for a traditional bank loan. In this scenario, the best thing you could do is wait and aim at rebuilding your credit score.

Still, one of the things you could do is getting a home equity loan – in the event in which you already own a house. Nevertheless, if your firm is a risky start-up venture, you should think twice before placing your home on the line. On the other hand, if your company is a stable, mature business, a home equity loan could be exactly what you need to get things going.

Furthermore, you could also have the possibility of getting a business credit card. In this scenario, you might have a low line of credit and a high-interest rate, which isn’t quite advantageous.


Still, if an entrepreneur wishes to rebuild credit and enhance his/her score, using a business credit card in this respect can be an excellent strategy. By proving that you can re-establish good payment habits, you increase your reliability.

Alternative Sources of Financing

Fortunately, Australian entrepreneurs may choose from a broad range of funding options for small businesses. However, it’s best to analyse your options in detail and establish the trustworthiness of the lender before you go for it.

For example, is an authoritative, top lender that specialises in offering bad credit business loans to Australians. We deliver an extensive array of financial services. We also advise you to discuss your options with a financial advisor, as your priority should be to make decisions that will help your business thrive, not the other way around.

Supplier and Vendor Financing

Many companies establish relationships with vendors and suppliers when it comes to purchasing goods and services for their business’ operation. If your suppliers decide to extend credit to you and assess that you’ve made the repayments on time, you could enhance your credit score and your business’ financial position.

Private Investors, Family, and Friends

At one point or another, most entrepreneurs have sought financial help from relatives, friends or private investors. Choosing this option is recommended especially if the business bad credit loans you have been offered have high-interest rates. In comparison to a bank that is interested in your credit score, your family and friends will lend you money based on your character and reliability.

If anything, you could also try to convince your acquaintances to invest in your business, which is another decent strategy if you have bad credit.


The only disadvantage to borrowing money from relatives and friends is that your payment record won’t be reported on your credit score.

What Should You Do to Recover Your Credit?

If time doesn’t put pressure on you to look for bad credit business loans, you can aim at rebuilding your credit. For starters, it’s fundamental to comprehend the way in which your business’ credit works. Your credit score monitors each late payment you made, and each loan you have taken out. Apart from that, in the position of an entrepreneur, you are the credit representative of your firm.

On that note, your personal credit score is also an important consideration for lenders and banks alike. The first thing you should do is order a free credit report and make sure that it doesn’t contain any errors. If your time is limited, you could ask for the guidance of a professional credit repair company. If not, you can attempt to do it yourself, but it can be a lengthy process.

Although the road to rebuilding your credit is long, it isn’t impossible. The key is to stay committed to your goal and start with small, basic steps such as striving to make timely payments each month.


It’s logical to take into account all these options and the potential side effects associated with bad credit loans for business. The reasons behind your bad credit are, without a doubt, understandable, as each company faces numerous financial challenges.

Now you are aware of the different types of bad credit business loans, the rest is up to you. Whether you choose to get bad credit business loans or not, your focus should be building your credit, which would open up numerous opportunities for your firm.

Business Loans

How To Use Your Business Loans Wisely

Borrowing money is not bad if you use it wisely to earn more. The keyword is “leverage”. It is using the borrowed money to buy an asset or increase your capital. But, leveraging is not for the faint-hearted. You have to make it work not only magnify the gains but to cover the losses as well. Learn how to use your business loans wisely in this article.

Business loans for people with bad credit could mean high-interest rates because of the risks that lenders take. But, taking out business loans can help you position yourself and your business in the best possible light to generate higher ROI.

1. Make a solid business plan.

Lenders are more likely to grant your loan application if you have a good business plan. Aside from that, a business can’t prosper without it.

In order to use your business loans wisely, it is important to have a solid business plan in place first. Almost all entrepreneurs are optimistic and enthusiastic about building their company. But a lot of them plunge into the competitive world of business without a concrete plan. That’s why operating the business becomes hard and time-consuming because of the absence of a solid plan in place to grow the business.

Here are some risks of not having a business plan:

  • Not anticipating your startup cost can totally drain your capital before you open your business
  • Quality of products or services may be compromised
  • You may go bankrupt for lack of manpower and funds for operational expenses because you have drained up your capital too early

2. Prepare your business and financial statements.

Show projected and current revenues. Lenders approve a business that has a great chance of recovering from losses. It can also serve as your basis when making an action plan in order to meet your business goals.

While you cannot totally predict annual revenues, creating high-quality revenue projections and budgets can help you maximize the odds of being in the right ballpark compared with the actual results.

Here are some factors to consider in making projections and budgets:

  • Total number of potential customers
  • Productivity variables of your team
  • Sales channel productivity variables
  • Buyer behaviour variables

3. Drum up your business by getting out there and connecting with your target market.

Leverage borrowed money by investing in the following:

  • Right people: Put together a team of reliable individuals, with the same passion as yours to help you run your business. Remember that the people you hire can have an enormous impact on your business. You can also leverage your customers by asking for reviews, referrals and by simply doing excellent service so they will spread the word.
  • Topnotch equipment: You don’t want to spend your revenues on repair, do you?
  • Marketing strategy: Use modern technology, social media and other digital marketing strategies to boost your marketing efforts.

4. Deal with alternative lenders like Australian Lending Centre who specialise in bad credit business loans.

You can benefit from the easy and quick business loans application process despite your bad credit score. Enjoy the best interest rates, favourable payment terms and stress-free application process.

Call us now!