$2500 Loans – City Finance

Am I eligible to apply for a $2500 loan?

We aim to help as many Aussie as possible, and have approved thousands and thousands of loans. So, even if you’re not considered the perfect candidate for a loan (e.g. bad credit, self employed or low income) then we can probably still approve your application. We are known for having flexible lending criteria.

As long as you are aged 18+, have sort sort of regular income and can provide a few pieces of supporting documentation, then you’re probably eligible for a quick cash loan with us.

Below is more detailed information on what exactly is required to apply for a $2,500 personal loan with us.

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 $2500 personal loan?

Yes, we run credit checks for all of our new customers. However, if you have a less than perfect credit score, there’s still a good chance we can approve your loan.

While we do run credit checks for all new customers, if you are an existing customer with City Finance, then we may be able to approve your application without a credit check. By removing a credit check form the approval process, the time the loan takes to process is sped up considerably. You can find out more about our no credit check loans here.

If you’re not familiar with what exact a credit check is, let us break down the basics.

A credit score is a figure that’s produced from a credit check that’s ran by lenders for potential new clients. Each person has a credit score (unless they’ve never borrowed money before), and this figure reflects whether the person is high risk (low credit score) or low risk (high credit score), to meet their repayments on time and pay back the amount they borrowed from the financial institution.

If a person has had late or missed payments in the past, their score will be dragged down. If a person has a good history of meeting their payments on time, and paying off loans in full, then they will have a higher credit score. Some banks automatically decline a loan if an applicants score is below a certain number.

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

550 – 624: Poor

625 – 699: Fair

700 – 799: Good

800 – 1000: Excellent

While we do run credit checks for new customers, we can often approve loans to customers with a poor or bad credit score.

Will you consider applications from people with a bad credit rating?

Yes, we absolutely consider applications from people with bad credit, and in a lot of cases, we approve them. At City Finance we believe that just because someone has had a bad experience in the past with their finances, doesn’t mean that they still need to be punished for it years later.

Unlike other most lenders, we don’t base our decision solely on an applicants credit score. Instead, we take the time to understand your personal circumstances. Everyone who submits a loan application at City Finance with receive a call from one of our friendly team members. If your credit score is less than perfect, then the representative will discuss why this happened, and ask you about your current circumstances. They will then work with you to figure out a loan amount and loan terms that you can comfortably meet.

While some banks and financial institutions will automatically deny an application if a potential borrower’s credit score is bad. We dig much deeper. In many cases we can approve your loan application as is, and if this isn’t possible, we can help figure out an alternative plan so that you can get the funds you need, quickly.

What can I use a $2500 loan for?

A small personal loan can be used for basically anything, but here are some examples of why you may need one.

Emergencies

At some time or another, almost everyone will face an emergency expense that they need to pay immediately. Whether this matter is medical, a home emergency or an overly high utilities bill, some things just can’t wait. If you’re faced with a bill or cost that you can’t afford, you can take out a cash loan with us and pay the balance back gradually.

Dental Loans

Visiting the dentist is expensive and, frankly, not very enjoyable! However, it’s a responsibility that no-one should ignore. Don’t let your oral health decline because the bills exceed your budget. Instead, take out a quick personal loan with us and ensure you teeth and mouth are in good health.

Weekend loans

Life can get busy and stressful, so it’s important to occasionally take time out for yourself to relax and have fun. If you can’t remember the last time you did something you enjoy, then you’re probably well overdue! If it’s money matters that are stopping you from enjoying yourself, then why not take out a personal loan with us and let your hair down?

Gap bridging loans

Perhaps you’ve spent months – or even years – saving an intended amount for a big ticket item, only to realise that you’ll need additional extras in order to experience maximum enjoyment from it. For example, you may have been saving for a car, but when your purchase it, the sound system is far from perfect. Reward yourself for your hard work and take out a personal loan to cover the cost of a good stereo.

Wedding loans

Weddings can be expensive, and more often than not, there are many last minute costs that may exceed your planned budget. Rather than compromising on your special day, why not take out a quick personal loan to cover those extra costs, and make your day perfect. To do so, you can take out a personal loan with us and pay the amount back in installments, as you can afford it, and while you bask in your pre marital glow.

Car accident loans

Whether you’ve been injured in a car accident, or your car has accrued some damage, both situations will often require a considerable sum of money. Whichever situation you find yourself in from a car accident, a loan from City Finance can help pay the expense, and get either you – or your car – looked after quickly.