FAQs

At LoanU we believe in assessing our clients based on their circumstances today, not what has happened in their past. We help you move forward, without being judged for the “black marks” on your credit report.

LoanU offers personal loans from $5,000 to $30,000 for loan terms of between 12 months to 7 years. We do not base your application off your credit score, so whether you have a less than perfect credit rating, or are looking to consolidate any number of debts into one easy-to-manage loan, we aim to work with you to find the most suitable loan solution for you.

Payday loans involve high interest rates, and are designed to be a quick fix for a short term solution. LoanU offers a real alternative to high-cost, short term loans. We want to help you consolidate your debt, and to help solve the larger problems you’re dealing with.

LoanU can help you to improve our credit score, save on interest and pay off your loans faster.

Well, we’re not your everyday lender. We actually care about rewarding good repayment history and want to help our customers on their path to financial freedom.

We do not base your application off your credit score, so whether you have a less than perfect credit rating, or are looking to consolidate any number of debts into one easy-to-manage loan, we aim to work with you to find the most suitable loan solution for you. Our rate reducer includes automatic interest rate reductions applied at six-month intervals if you maintain your repayments, which can help you pay off your loan sooner.

By using our 5-step process, getting a clear and defined road map back to financial freedom has never been easier. At LoanU we are all about giving you a clean slate and helping you to create a future free from the stress from multiple debts, which have spiralled out of control.

1. Evaluate

We gather as much information as possible about your current situation. This allows us to formulate a loan solution tailored to you.

2. Mediate

Within our group of companies, we have access to specialist debt mediators. They will negotiate with your debt providers to reduce the cost of your debt repayments.

3. Consolidate

Once your mediation is finished, we use your loan solution to pay the discounted settlement amounts to your creditors. Your accounts are finalised quickly.

4. Eliminate

All loans are rolled into one easy-to-manage loan. You will have affordable repayments, matched to the timing of your income. You now have a set timeframe to work towards clearing the debts which have been dragging you down for so long!

5. Activate

As you pay off your loan, we will activate automatic interest rate reductions at six months intervals. That’s right- as you develop a strong repayment history, we will help you pay off your loan even sooner.

We provide loans between $5,000 and $30,000 based on your situation and income.

Our loan terms range from between 12 months to 7 years on a case by case basis, and are dependent on your loan amount.

There is an establishment fee that ranges from $400 to $1,100 (depending on the size of the loan) and a monthly service fee of $15. Our interest rates vary according to every individual’s situation.

• 3 months personal bank statements (sourced during application process through a secure third party provider);
• Identification documents
• Drivers Licence
• Medicare Card;
• Income verification
• PAYG employees – 3 most recent payslips
• Self-employed – Tax Return and Notice of Assessment from the most recent financial year