When unexpected expenses arise

Unexpected costs can happen at any time. Some people consider short-term credit to help manage a one-off expense when savings are not immediately available.

At Fundo, we provide regulated credit products to eligible customers:

• Small Amount Credit Contracts (SACC): $500 to $2,000
• Medium Amount Credit Contracts (MACC): $2,001 to $5,000
• Personal Loans: $5,000 to $10,000

All loans are subject to credit assessment, eligibility criteria, and approval.

What we mean by “emergency loans”

The term emergency loan is commonly used to describe credit used for unexpected, one-off expenses.

In Australia, these products generally fall into the following categories:

• Small Amount Credit Contracts (SACC)
  Loan amounts: $500 to $2,000
  Loan terms: 4 to 39 weeks
  Cost: establishment fee plus monthly fee
  No interest is charged
• Medium Amount Credit Contracts (MACC)
  Loan amounts: $2,001 to $5,000
  Loan terms: 9 to 39 weeks
  Cost: establishment fee plus interest
• Personal Loans
  Loan amounts: $5,000 to $10,000
  Loan terms: 9 months to 24 months
  Cost: establishment fee plus interest

All products are unsecured, meaning you do not need to provide an asset such as a car or property as security.

Choosing the right loan type

The type of loan that may be suitable depends on your situation and the size of the expense.

• SACC loans are generally used for smaller, short-term needs
• MACC loans may suit medium-sized unexpected costs
• Personal Loans may be more appropriate for larger expenses that require structured repayments over a longer period

Choosing a higher loan amount than you need can increase the total cost, so it’s important to borrow carefully.

When people consider this type of credit

Short-term credit may be considered for unexpected, necessary expenses such as:

• Essential car repairs
• Urgent medical or dental costs
• Replacement of a necessary household appliance
• Emergency travel
• Other one-off personal expenses

These products are designed for temporary situations, not ongoing financial needs.

How the assessment process works

There is no such thing as guaranteed approval or instant lending.

As a licensed lender, Fundo is required to assess whether a loan is suitable before approval. This includes reviewing:

• Your income from all sources
• Your regular living expenses
• Existing financial commitments
• Recent bank transaction history
• Your ability to meet repayments without substantial financial hardship

If a loan is unsuitable, the application may be declined.

Past credit issues may affect approval and loan terms.

Application and funding timeframes

Applications are completed online.

Once you submit your application and provide the required information, we assess your situation.

If approved and you accept your loan contract, funds are transferred to your nominated bank account as soon as reasonably possible.

Processing times vary depending on:

• Verification requirements
• Your bank’s processing systems
• Time of day
• Weekends or public holidays

Who can apply

To apply, you generally need to:

• Be at least 18 years old
• Be living in Australia
• Receive regular income of at least $1,000 per fortnight (government benefits may be included)
• Demonstrate ability to meet repayments without substantial financial hardship
• Have an active Australian bank account in your name

Each application is assessed individually.

If Centrelink is your sole source of income, the maximum amount that may be approved is $500, subject to assessment.

Understanding costs and repayments

Understanding the total repayment amount is important before deciding whether to proceed.

Small loan example (SACC)

$1,000 over 20 weeks

• Loan amount: $1,000
• Establishment fee: $200
• Monthly fees: $200
• Total repayable: $1,400
• Weekly repayment: $70

SACC loans do not charge interest.

Medium loan example (MACC)

$2,500 over 6 months

• Loan amount: $2,500
• Establishment fee: $400
• Interest charged: $389
• Total repayable: $3,289
• Fortnightly repayment: $253

MACC loans include interest in addition to an establishment fee.

Personal Loan example (illustrative only)

$7,000 over 12 months

• Establishment fee and interest apply
• Repayments structured over the agreed term

These examples are illustrative only. Actual costs depend on loan amount, term, fees, interest and whether repayments are made on time.

Repayments

Repayments are set out in your loan contract and must be made as scheduled.

Depending on your circumstances, repayment frequency options may be available, such as weekly, fortnightly or monthly. These options are determined during the application process.

When this type of loan may not be suitable

Short-term credit is generally not suitable for:

• Ongoing living expenses such as rent, groceries or utilities
• Recurring financial shortfalls
• Situations where complying with repayments would cause substantial financial hardship

Alternatives to consider first

Before applying, you may wish to explore:

• Payment arrangements with your service provider
• Using available savings
• Free financial counselling
• Community support services

You can contact the National Debt Helpline on 1800 007 007 for free, independent assistance.

About Fundo

Fundo Loans Pty Ltd holds an Australian Credit Licence 491418.

We are required to assess all applications to ensure loans are suitable and do not place customers under substantial financial hardship.