At some time or another in their lives, most people experience a time where they need money quickly, and don’t have the available funds. If you’ve found yourself in this situation, then you’re certainly not alone.
Of course, the matter of needing cash to cover a particular cost can be stressful, but it doesn’t have to be! The solution to your money troubles can be as easy as a quick personal loan from City Finance.
We offer a range or loans, with varying repayment options and loan amounts. If you’re looking for a loan to cover costs of around $1500, then we can help you access these funds quickly with a $1500 loan.
Our $1500 loans are approved quickly, and we’re even able to offer them to people who don’t have a perfect credit history.
These loans have the added benefit of being unsecured personal loans. An unsecured loan means that you don’t need to offer up security when applying for your loan, instead the approved amount is transferred into your bank as cash. These is extremely helpful if you have a variety of bills to pay, as you can divvy up the money as you like.
Not only is our application and approval process quick, but it’s also very simple. Many of our applicants receive the money in their bank account on the same day that they apply a loan. The entire process of receiving a loan with us is fast and straight forward. In fact, it’s as easy as 1, 2, 3, as you can see below.
To apply for a loan with City Finance, you’ll need to fill in an online application form, which you can find here. The application is simple and you’ll just be required to select the amount you’d like to borrow and the repayment time, as well as fill in some personal information, send proof of identity and your most recent 90-day bank statement.
Once we receive the information from you, someone from our team will call you to confirm your application details. If your application is approved, we’ll contact you to confirm the approval and send your contract. We’ll also get your bank details so we can send over the money.
Once you’ve been approved, you should receive the money by the end of the day. However, most customers receive the money even sooner. From here you’ll be able to spend the money on what you please – and you will just need to meet the contracted repayments (weekly, fortnightly or monthly)
Am I eligible to apply for a $1500 loan?
At City Finance, we strive ourselves on our inclusivity, and try to help as many Aussies with loans as we possible can. As long as you can meet some simple eligibility criteria, then you’re probably eligible for a $1500 loan with us!
All that we ask is that you are age 18 or older, can show some proof of income and a provide a few other supporting documents.
For many people, the term ‘supporting documents’ sounds complex and overwhelming – however, this couldn’t be further from the truth at City Finance. In order to apply for a loan with us, we don’t need a bunch of different documents, all we require is the following:
- A copy of your ID
- A short application form with details such as your address and phone number
- Proof that you are receiving some sort of income (this can be a salary or Centrelink payments)
- 90-day history of bank transactions
If you’re unsure of your eligibility please feel free to reach out to our customer service here.
Is a credit check required for a $1500 payday loan?
At City Finance we do conduct credit checks on all of our new customers. However, if your credit report comes back with a low score, this doesn’t deem you ineligible for a loan. We offer loans to thousands of people with bad credit.
While we do run credit checks on our new customers before approving a loan, if you’re an existing customer with City Finance we may be able to approve a loan without running a credit check. By removing the credit check component of a loan application, the loan can be approved and issued much more quickly. You can find out more about our no credit check loans here.
If you’re not sure what a credit check is and/or what a good or bad credit score is, then read on to learn more.
Basically, almost all financial institutions run a credit check before granting a loan, and if you’re ever borrowed money or signed a financial agreement, like a phone plan, then you’ll likely already have a credit rating.
Lenders use credit ratings to determine whether a potential borrower is low or high risk about paying their loan back. Before approving the loan they will run a credit report to obtain the potential borrowers score.
A borrower who has a history of late payments, missed payments or a default (meaning the payment was ignored for a significant period of time), then they will have a lower credit score and deemed high risk. Similarly so, if a borrower has a history of borrowing money regularly and meeting their repayments and paying off loans, they will have a high credit score and be deemed low risk to lend to.
In Australia, credit scores sit between zero (being the lowest possible score) and 1000 (being the highest). The below credit rating key gives an indication of how credit scores are judged:
0 – 549: Very Poor credit score
550 – 624: Poor credit score
625 – 699: Fair credit score
700 – 799: Good credit score
800 – 1000: Excellent credit score
Many banks and payday lenders will automatically reject bad credit borrowers if their credit score is below a certain figure. However, we don’t do that! You can read more about our rules surrounding applicants with bad credit below.
You can find out more about our no credit check loans here.
Will you consider applications from people with bad credit?
As mentioned above, credit scores help a financial institution determine whether a potential borrower is high risk (low credit score) or low risk (high credit score) to pay the loan back.
If an applicant has a history of missing one of more payments, making them late or ignoring them all together, then they will probably have a bad credit score.
While some financial institutions automatically reject applicants with bad credit, we don’t. We aim to help as many Aussies with loans as we can, and have issued thousands of loans to applicants with bad credit.
While we do run a credit check on our applicants, we don’t just base their eligibility solely on this. Instead, we speak with each applicant personally to understand their specific circumstances. Our friendly staff members can work with customers with bad credit to determine loan terms and a loan amount that they can comfortably meet.
You can find out more about our bad credit loans here.
What can I use a $1500 loan for?
A $1500 loan can be used for basically anything, but here are some examples of why you may need one.
Anyone who’s been to the dentist at some point – which should be everyone! – knows that dental bills can be expensive. A single root canal can cost well over $1000. Plus, an agonising tooth ache is almost impossible to ignore and must be sorted out as soon as possible by a dentist. If you need a trip to the dentist, but don’t’ have the funds to cover the bill, a $1500 loan with us can help.
Read more about our dental loans.
When was the last time you did something fun for yourself? Think: brunch with friends or a beachside picnic? If you’re struggling to remember, then you’re probably well over due. If the obstacle holding you back from treating yourself is your lack of cash, then you can take out a $1500 loan and pay the amount gradually as your can afford.
Gap bridging loans
If you’ve been saving for a big ticket item, but don’t quite have the cash to purchase it, it can be a frustrating situation. Rather than waiting until you have enough for the item, plus an additional extras you need, you can take out a small $1500 loan with us to top up your savings and allow you to enjoy your new purchase sooner.
Read more about our small cash loans.
Car accident loans
Car accidents are not only scary, but they can be expensive too. If you’ve had a small accident where you’re at fault, and you’ve been left with a hefty repair bill, then we can help. Our small personal loans can help you cover the cost of a new bumper, head light or door handle and allow you to get safely back on the road in minimal time.
Read more about our car accident loans.
Unexpected event loans
Unexpected events happen, and they can be both happy and sad. Perhaps a good friend announces her pregnancy or engagement and you want to buy her a congratulatory gift. Or, someone close sadly passes away and you need to contribute towards funeral costs or buy a bereavement present. Regardless of the reasoning, it’s hard to budget for an unexpected event. To help you cover the costs, you can take out a personal loan with us.
Read more about our small cash loans.
Unexpected expenses loans
Even if you have a rainy day fund, it’s impossible to know how much money you’ll need in it to cover an unexpected expense. If you’ve found yourself faced with a bill or expense that you don’t have the financial capacity to cover, don’t worry. You can quickly cover the costs with one of our fast payday loans, and meet your loan repayments and pay off the total gradually as you can afford.
Read more about our emergency loans.
What’s the difference between personal loans and payday loans?
Personal loans and payday loans are extremely similar – they’re both unsecured loans that are for a relatively small amount. However, payday loans tend to be for a smaller amount that’s paid back quicker than a personal loan. That being said, the term for an unsecured loan that falls under $5,000 is commonly interchangeable between personal loan and payday loan.
Do you offer bad credit personal loans?
Yes, we don’t judge an applicants eligibility solely on their credit score. While we do run credit checks, we also speak to the applicant personally to determine if they can meet their repayments. If we believe their circumstances show that they do, then we can approve their loans. We’ve offered thousands of loans to Aussies with less than perfect credit scores.
Can I take out a short term loan so that I can pay my bills until my next payday?
At City Finance we have very flexible loan terms. We can offer loans between $500 and $5000, with the loan length between 12 weeks and 52 weeks. You can also choose whether you’d prefer to make weekly, fortnightly or monthly repayments. So, you can customise a loan to suit your personal circumstances.
I’m on government benefits, can I still get approved for a $1500 loan?
Yes, just because you’re on government benefits shouldn’t mean that you can’t borrow money! When applying for a loan at City Finance, we do require some sort of proof of income. However, this doesn’t need to be in the form of a salary from a job, it can be money that’s coming in from government benefits, like Centrelink.