How Our Short-Term Loan Comparison Works
1. Tell Us Your Urgent Need
Share details about how much you need, what you’ll use the funds for, and your preferred repayment timeframe. Quick form takes just 2-3 minutes.
2. Get Matched With Fast Lenders
We connect you with lenders who specialize in short-term finance and can provide rapid approval for urgent funding needs.
3. Compare Quick Funding Options
Review loan offers designed for short-term needs, comparing rates, fees, and repayment terms. Your broker explains all costs clearly.
4. Fast Application Process
Choose your preferred loan option and complete a streamlined application designed for speed. Minimal documentation for faster approval.
5. Rapid Fund Release
Once approved, funds are typically transferred to your account within hours or same business day, allowing you to address your urgent need immediately.
Short-Term Loan Eligibility
While requirements vary by lender and amount, you’ll generally need:
Age: 18+ years old
Income: Regular income (employment, business, or benefits)
Bank Account: Australian bank account for fund transfer
Residency: Australian citizen, permanent resident, or eligible visa holder
Credit Check: Some lenders conduct credit checks, others focus on current income
Purpose: Legal purpose for the funds
Don’t meet all criteria? Our broker network includes lenders with flexible requirements. We help borrowers with:
- Urgent funding needs
- Casual or part-time income
- Self-employed borrowers
- Varied credit histories
- Centrelink recipients (some lenders)
- Time-sensitive situations
Types of Short-Term Finance We Compare
| Loan Type | Best For | Key Features |
|---|---|---|
| Payday Alternative | Small amounts ($300-$2,000) | Fast approval, short terms (weeks to months), higher costs |
| Short-Term Personal Loan | Medium amounts ($2,000-$10,000) | Terms 3-12 months, fixed repayments, clearer rates |
| Business Cash Advance | Business cash flow | Based on revenue, daily repayments, fast funding |
| Invoice Finance | B2B businesses | Advance on unpaid invoices, immediate cash flow |
| Line of Credit | Flexible needs | Draw as needed, pay interest on used amount, revolving credit |
| Bridging Finance | Property-related | Bridge buying/selling gap, secured by property, short term |
Frequently Asked Questions About Short-Term Loans
What’s the difference between a short-term loan and a payday loan? Short-term loans typically offer larger amounts ($2,000-$10,000+) with terms of 3-12 months and clearer rate structures. Payday loans are smaller ($300-$2,000) with very short terms (weeks) and higher costs. We focus on connecting you with short-term personal loans that offer better value and clearer terms.
How quickly can I get funds from a short-term loan? Most short-term lenders can approve applications within hours and transfer funds same day or next business day. Business cash advances and invoice finance can be even faster, sometimes within hours of application for established businesses.
Are short-term loans more expensive than regular personal loans? Yes, short-term loans typically have higher interest rates than standard personal loans because of the shorter repayment period and higher administrative costs relative to the loan amount. However, because the term is shorter, total interest paid may be similar or less than a longer-term loan.
Can I get a short-term loan if I have bad credit? Some short-term lenders focus more on your current income and ability to repay than your credit history. We work with lenders who consider applications from borrowers with varied credit histories, though rates may be higher for those with challenged credit.
What can I use a short-term loan for? Short-term loans can be used for emergency expenses, urgent repairs, unexpected bills, bridging cash flow gaps between pay periods, or any other urgent financial need. Business short-term loans can cover operational expenses, inventory purchases, or seasonal cash flow management.
What are the alternatives to short-term loans? Depending on your situation, alternatives might include a credit card cash advance, overdraft facility, borrowing from family/friends, payment plans with service providers, or accessing emergency relief services. Your broker can discuss all options to find the most cost-effective solution for your needs.
Related Resources
Explore these related guides to learn more about short-term and emergency financing:
- Personal Loans - Longer-term personal finance options
- Business Loans - Working capital solutions
- Emergency Finance Guide - All your urgent funding options
- Cash Flow Management - Tips for managing business cash flow
When Short-Term Loans Make Sense
Short-term loans are designed for situations where you need quick access to funds for a specific purpose, with the intention of repaying the loan within a relatively short timeframe. They work best when you have a clear plan for repayment and the funding addresses a specific, time-sensitive need.