Second Chance Loans

Looking for a second chance Loan? Secure a loan in 3 simple steps!

Do you have a short credit history or recently experienced financial difficulty? If so, there is hope that your dreams of owning a home and achieving financial stability are not out of reach. Second chance loans offer you blemished credit with an opportunity to own a home despite their past struggles. It is in the form of flexible terms, specialized loan products and supportive lenders. We will provide an overview of what second chance loans are and how they could be the key to obtaining the financing needed for your next big step.


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 and send proof of identity.


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 send you an email confirming the approval. 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).

What Are Second Chance Personal Loans?

Second chance loans are ideal for individuals who may have a bad credit score or lack a traditional borrowing history. These loans offer an alternative to those other lenders may deem high-risk due to their bad credit or lack of credit history. This loan can help borrowers overcome the problems they may face due to their bad credit scores and unlock access to the loan finance they need.

Second chance loans typically have higher interest rates and fees than other forms of credit, such as traditional bank loans. This makes them a more expensive option for borrowers with poor credit scores. It also means that it is important to research the terms of the loan before committing to one.

What’s the Difference Between a Second Chance Loan and a Traditional Personal Loan?

There are a few loan options available when you’re looking for additional funds to help meet your financial obligations. The two major types of personal loans are traditional and second chance loans.

Traditional Personal Loan

Traditional personal loans are loans given by banks and other financial institutions. Often secured with collateral like a house, car or other valuable assets. Traditional loans sometimes require good credit and a clear understanding of the repayment terms. In addition, the interest rate is usually fixed, which means it remains constant over the life of the loan, making it easier to budget for repayment.

Second Chance Loan

Second chance loans, on the other hand, are loans given by non-traditional lenders and often come with higher interest rates. These loans typically have more flexible eligibility requirements than traditional personal loans. They can help those with poor or limited credit gain access to extra funds. The loan terms vary from lender to lender, so it’s important to compare and contrast to find the best option.

Am I Eligible for a Second Chance Loan?

If you are looking for a personal loan but have a bad credit loan rating, you may be eligible for a second chance loan. City Financing offers second chance loans as an alternative to traditional loans. It gives those with poor or limited credit histories the opportunity to access financing. However, we also understand that even well-meaning borrowers sometimes end up with bad credit due to circumstances beyond their control.

What Supporting Documents and Information Do We Need To Proceed Your Second Chance Loan Application?

Once you have determined that you are eligible for a second chance loan, it is important to gather the documentation and information required by the lender.

Here are the list of the documents and information you need to provide:

  • A duplicate of your ID.
  • A brief application form that includes information like your address and phone number.
  • Bank transaction history for the previous 90 days.
  • Income documentation (Eg a payslip or Centrelink income statement).

What Can I Use a Second Chance Personal Loan For?

You may be wondering what a Second Chance Personal Loan can be used for now that you know it. The great thing about these loans is that they are incredibly flexible, and there are a variety of uses for the money.

Here are some of the most popular uses for a second chance personal loan:

Car Repairs

A car can be expensive, especially when something suddenly needs to be repaired. If you don’t have the money right away, a Personal Loan can help cover car repairs so that you can get back on the road quickly. Moreover, car loans can also be used to purchase a car if you don’t have cash.

Medical Bills

Healthcare can be incredibly expensive, and treatments or surgeries often require advance payments. A Second Chance Personal Loan can help you cover these costs if you don’t have the money immediately.

Dental Bills

Dental care can be expensive, and you need to cover the costs upfront. A Personal Loan is a great way to cover those unexpected dental bills without breaking the bank.

Vet Bills

Pets are a big part of many people’s lives; unfortunately, their medical care can be costly. If you don’t have the money to cover an emergency vet bill, a Second Chance Personal Loan is a great way to get the help you need without worrying about how you will pay it back.

Rental Bonds

Renting can be expensive, and many landlords require a bond to be paid before you move in. A Personal Loan is an excellent way to cover rental bond costs without waiting until you have saved enough.

Funeral Expenses

The death of a loved one can be extremely upsetting, and it’s even worse if you don’t have the cash to cover funeral expenses. A Second Chance Personal Loan can help cover those costs, so you don’t have to worry about where the money comes from during such a difficult time. Moreover, cash loans can also be used to cover unexpected expenses such as funerals and other memorial services.

Holiday & Travel

Planning a holiday or traveling can be expensive, especially if you don’t have the cash upfront. A Personal Loan can help cover those costs so that you can go on the trip of your dreams without having to worry about money.

Furniture & White Goods

Many people need furniture and white goods such as fridges, washers and dryers. Still, they don’t have the cash to purchase them immediately. A Second Chance Personal Loan can help cover those costs so that you can get what you need without waiting until you save up enough money.

Home Renovations

Home renovations can be expensive, and you often don’t have the cash to cover them at once. A Personal Loan is an excellent way to cover renovation costs done promptly without worrying about where the money is coming from.


Weddings can be incredibly expensive, and many couples don’t have the funds readily available to cover all costs. A Second Chance Personal Loan can help cover those costs so that you can have the wedding of your dreams without having to worry about money.


Highly highly highly recommended City Finance to anyone. The staff are absolutely amazing and very helpful. My experience the two times I have used their services have been amazing. Thank you guys!

Lulu Millar
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I had a very easy and straight forward experience dealing with City Finance... Very much appreciated the quick flow of decision making displayed. Regards, Graeme

Graeme Austin
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Great customer service, they're happy to help out when you need it if something unexpected has happened and you need cash fast, definitely recommend and repayments are tailored to your needs.

Cassandra Dodd
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Wonderful people very friendly and helpful been with them for some time now and have never had an issue with them always have my payments on time

Pauline Arrowsmith
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City finance for fantastic. The application is still in fairly quickly within outcome usually within 24 to 48 hours. Customer service is lovely and the only company that would help me out with the loan when no other one would. Highly recommend.

Chanelle Ryan
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