$500 - $5000
between $500 - $5000
up to 180 days
20% upfront establishment
fee 4% monthly fee

Small LOAN

Loan amount from $500 to $2000
Minimum 91+ days to Maximum 6 months
20% Establishment Fee and a flat 4% Monthly Fee*


Loan Amount of $1,000 over 20 weeks repayable weekly. $1,000(Principal Amount) + $200(20% Establishment Fee) + $200(fees based on 4% per month over 20 weeks) = $1,400 total repayable in 20 weekly repayments of $70.00.

*The example assumes timely repayment as per the loan agreement, or additional fees and charges may apply.


Loan amount from $2001 to $5000
Minimum 91+ days to Maximum 2 years
$400 Establishment Fee plus interest at 47.8% p.a. (Comparison Rate 66.58% p.a)*


Loan Amount $2500 over 2 years repayable fortnightly. $2,500 (Principal Amount) + $400 (Establishment Fee) + $1553 (Interest) = $4453 total repayable in 52 fortnightly instalments of $85.63

*The comparison rate is specific to a $2,500 loan over a two-year term with a $400 establishment fee and fortnightly repayments. Any deviation in loan amount, term, or additional fees and charges can result in a different comparison rate, and the given comparison rate only applies to the presented example.

When it comes to bad credit loans, same day approval is often sought after. This is because people looking for this type of credit have an urgent or pressing expense that needs to be addressed immediately, preferably today.

That being said, having bad credit can lock you out of certain options due to a credit issue in your past. Some lenders may require you to put up collateral to secure your loan, which you may not have at hand. Others may decline your application outright, which doesn’t seem fair.

And Fundo agrees – you deserve a chance to have your complex financial situation reviewed independently. Before you dive into our application form, however, there are a few things you’ll want to know first about bad credit loans, same day approval.

Is applying for a loan different if I have bad credit?

Technically, the process for applying for instant loans for bad credit is generally the same across the board.

However, for bad credit loans, same day release or otherwise, the requirements may be different or more strict if you happen to have a less-than-stellar credit score or history. This may be the case for other lenders, especially if you need your cash loans fast.

For online loans, especially, this manifests in the security required for the loan. When we talk about the security of a loan, we mean whether or not the loan requires collateral. Personal loans that have collateral, such as mortgages or bond loans, are secured. Conversely, same day bad credit loans without collateral are unsecured, and this type is most common for small, short-term loans.

Lenders can consider your bad credit situation if they can offer collateral for a quick bad credit loan product. However, this could place you, as the borrower, in a much less ideal financial position. If you use your car to commute to work, for example, putting it up as collateral would impact your ability to earn and effectively repay your loan.

It’s for this reason that we consider more than just your credit score when assessing bad credit loans, same day release or not. Credit scores aren’t our be-all and end-all for creditworthiness.

With that in mind, we’ve developed an interactive way of engaging our borrowers to practise healthier borrowing habits through the Fundo Credit Score.

The better your score, the better your chances. You can increase your score by leaving us feedback, referring us to friends or family, and repaying your loans on time. You can even make a game out of the process and watch your score level up every time you complete a Fundo Credit Score task.

Can you get a loan with bad credit?

Self-employed individuals or seasonal income streamers can have it much harder when they apply for a loan because of the irregularity of their earnings. Traditional lenders also tend to shy away from approving loans for young applicants, especially first-time borrowers, thereby creating a problem.

How can these potential borrowers improve their credit if they can’t get any loans?

Fundo understands that poor credit scores aren’t always the result of poor loan management on the borrower’s part.

Suffice it to say that bad credit loans shouldn’t be something to be ashamed of. That’s why we’ve made our eligibility criteria straightforward, with five key requirements.

These requirements are as follows:

  • you must be at least eighteen to apply;
  • you must be an Australian citizen or permanent resident;
  • you must be earning $300 minimum weekly, excluding government benefits;
  • you can show us a clear exit plan for your Fundo loan; and
  • you won’t be under undue financial pressure by borrowing from us.

While these are the main criteria we look for in bad credit loans, same day review or not, there are some considerations for certain criteria.

For example, while we accept applications where government benefits or pensions supplement the income, we may ask you to reapply later if you rely solely on such benefits. This is part of our commitment to responsible lending, as we don’t want to unduly burden your finances. We also regularly service borrowers with complex employment situations.

If you have further questions about our application process, you can contact our customer support team during business hours. We’ll be more than happy to answer any questions you have.

What are the best loans to get with bad credit?

Fundo’s small, short-term loans are a great choice of credit product if you’re looking to apply for instant weekend loans.

Not only are the eligibility criteria for bad credit loans, same day review straightforward, but we also consider each application’s unique circumstances. This makes our loans more accessible to more borrowers who deserve a fair shot at applying for them. Whether you’re looking for education loans to cover initial registration fees or just a fast loan now for various one-time cost reasons, Fundo aims to be the go-to direct lender for Australians looking for robust small loans.

What’s more, you can take advantage of our services to stay on top of your repayments, such as our self-service dashboard. The dashboard consolidates all of your loan account information into one convenient location, allowing you to easily review previous repayments, check upcoming repayment schedules, and manage your personal information.

We also have the 3-Click Apply feature, which allows our returning borrowers to complete a new loan application with just three clicks – maximum convenience, right at your fingertips.

With these services and more to go with our bad credit loans, same day release and otherwise, Fundo makes loans much more engaging.

Apply for a short-term loan with us today.

Disclaimer: Unless otherwise stated, the opinions expressed in this article are strictly for informational and entertainment purposes only. Comments or opinions featured in the article may change at any time without notice.