Loan Companies

Are you looking for a loan company in Australia? In this post, we show you how to select a reliable company and how to use WeLoans to find the best lenders.

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It is not an easy task to find a loan company that you can rely on. To get the best deal, you may need to contact various lenders and compare their terms and conditions, and the process can be tedious and frustrating especially when you have emergent bills to pay.

In this post, we will show you how to select a loan company and what are the best loan places you can turn to in Australia. Most importantly, how WeLoans can help you land the right loan provider to solve your financial problem.

What to Look for When Choosing Loaning Companies in Australia?

Working with a trusted lender who offers fast funding helps a lot when you are facing financial stress. Thus it pays to do thorough research before doing business with them. When choosing a loan provider, a few points should be factored in.

Reputation and Reliability

The first thing to check is whether the loan company is licensed, which is an Australian government requirement. The lender's website should look professional and show an official Australian Business Number (ABN) and an Australian Credit License (ACL).

You should also check out reviews from previous customers of the loan company. There are a number of websites such as CHOICE, Trustpilot, and ProductReview that accept public reviews of lenders and credit businesses in Australia.

Interest Rates and Other Fees

Interest rates, fees, and additional charges should be clear with no hidden clauses. Be careful with interest rates that seem very low, since there could be additional fees like late repayment penalties, or the rate may increase after a period.

Customer Support

There may be times when you need to contact the lender, perhaps to discuss rescheduling a payment. So it is important that the loan company has a good customer support system, preferably 24/7, to advise and help their clients with financial issues.

Early Payout Terms

You should try to make sure that there is no extra fee for early repayment of the loan, or for lump sum repayments. If you can repay the loan earlier it will save a lot of money in interest over the term of the loan.


Try to find lenders that are flexible and open to discussion on costs and payment terms. For example, if you have an unexpected cash flow problem, it would be good if you can get the lender to accept a slight delay in a payment without penalizing you.

How Can WeLoans Find Me the Best Loan Company in Australia?

When you are looking for a loan online, the best way to do it is to use an online broker like WeLoans to speed up your search process.

Rather than searching the internet to find the right lender, you can save time by going to our website and just filling in one simple application form. This will get you instantly connected to our network of lenders who have been selected as the most suitable for your situation.

Since we regularly work with a pool of lenders we can make sure that your application is seen by the ones that most suit you, no matter if it is a payday loan, bad credit loan, quick cash loan, and Centrelink loan, our partnered lenders have got you covered!

Moreover, we gather all the information you need to know about various loan companies on our website, including their addresses, contacts, opening hours, and many more. You can even find out what customers say about their services, so you can decide whether it is a good idea to seek financial help from them.

Top 3 Australian Finance Companies

Symple Loans

Symple Loans in Australia is part of a worldwide credit company that uses the latest digital technology to offer an exceptionally fast service. Symple does not have any physical locations which might worry some people, but this allows them to reduce costs, and these reductions benefit consumers in the form of lower interest rates and fees. Their interest rates for customers with good credit scores start at just 5.75%.

Additionally, Symple Loans reacts responsively. They promise that you can apply for a loan in 7 minutes, receive a response in 60 seconds, and have the cash in your bank account within 24 hours.


OurMoneyMarket offers secured and unsecured loans to people with low-interest rates for a good credit rating, and slightly higher rates for a poor credit score. Their unsecured loans range from $2,000 up to $50,000, and up to $75,000 for car purchases, with the car as security.

OurMoneyMarket also specializes in loans to unemployed people on Centrelink benefits. Cash loans for Centrelink range from $2,000 to $75,000 with repayment terms of up to 7 years, so the monthly repayments are more affordable.

To get a fast quote that does not impact your credit score, just go to their website and enter the amount of loan you want, the repayment term, and your current credit score. If you are happy with the quote you can apply in a few minutes, and the company promises a loan decision within 1 minute.


Nimble is one of the most popular companies in Australia for small loans up to $5,000. One of its main advantages is that you can get a loan really quickly, which is great in an emergency situation. Once your loan application has been approved, Nimble says that you can get the cash within 60 minutes.

Nimble offers two types of personal loans: small cash loans and medium cash loans. Small loans range from $300 to $2,000, with terms of up to 5 months. They have an establishment fee of 20% of the loan amount, and the monthly interest rate is 4%.

Their medium loans also include rental bonds, with amounts between $2,050 and $5,000, with repayment terms of up to 22 months. These loans have an establishment fee of $400, and the annual percentage rate (APR) is 47.62%.

These costs and rates are high, but you can get instant approval and immediate cash funding, and a bad credit score is not a problem.

How to Qualify for a Loan in Australia?

Most lenders have their own criteria for loan eligibility, but they share some basic requirements, as follows:

  • You have to be at least 18 years old.
  • You must be an Australian resident.
  • You have two official forms of ID such as a driver's license and passport.
  • You receive a regular income over the last 3 months; If you have Centrelink benefits, they must be a maximum of 50% of your income.
  • You have a current bank account, with statements from the last 90 days.

You will also need to provide details of any other debts or liabilities, such as credit cards or other loans.

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