Here at Fundo we review applications with amazing credit, through to applications with not-so-great credit history. This is because we understand that things happen throughout life, and want to make sure we’re able to give as many people as possible a fair go.

While other lenders focus on your past credit history, our decisioning process stresses looking at an applicant’s ability to meet their repayments on time, in their present financial position.

This is where our scoring systems comes into play, in a fun way! Our scoring system rewards you when payments are made early, on time, including some other cool perks. Rather than dwelling on your past we give our customers an opportunity to track and be rewarded for their current financial behaviours with us. You can earn a maximum of 1,200 points. The higher your score, the more likely you are to be approved.

How to Increase Your Loan Approval Chances?

We’ve touched on it above slightly, but in summary, lenders that look beyond your past will want to see how you’re doing now. So what can you do? Here are some quickfire tips to help get you into shining light for an application:

• Ensure your everyday accounts always have funds in there to prevent the account from overdrawing

• Ensure all direct debits are successfully paid without any dishonours

• Keep a clean record for as long as possible (if you continue this habit into the future then it’s only a plus from here!

For more, read our blog about maximising the chance of being approved for your online loan application.

Fundo offers fast and easy access to credit through cash loans for all sorts of circumstances. Our team takes care of our clients and we enjoy doing it, so feel free to chat, call or email us at any time and we will be more than happy to help.

While Fundo provides valuable tips to help you enhance your score, we want to clarify that we’re not offering financial advice—just some friendly guidance on your Fundo journey. In fact, we’ve made it easy to access all of this - to explore our Fundomental Tips, click here.

Here at Fundo Loans, you will not only receive fast and reliable loan services— you also get points for making payments!

We strive to give each one of our customers the best service, and we appreciate all your efforts to meet your end of the bargain as well! You can receive points for positive behaviours like closing your account with no late payments or no payment schedule modification requests.

The Fundo Score System has been created to be as fair as possible for both of us. As much as we want to give points to all our customers, there are instances where we need to deduct points to discourage some behaviour regarding the loan agreements. If a payment has dishonoured as per the original payment schedule, it will impact your Fundo Score. We want to be working with you at all times and assist where possible. If you have any issues that might affect your payment schedule, get in touch with Fundo Loans today.

As mentioned previously, Fundo Loans offer fast online loan solutions that cater to different circumstances. We are here to help create a payment arrangement that suits you right from the beginning. However, if you request for a manual reschedule or arrangement that is different from what was initially discussed, it will impact your Fundo Score.

A less-than-average credit score no longer needs to prevent you from getting the much needed advance you’re after. Fundo is an online loan provider and is able to fund loans from $500 to $5,000. While other banks and lenders will use credit records and history as a key factor in determining an applicant's credit worthiness, if you meet our eligibility criteria we may not have to do a credit check at all. Even more so, if we conduct a credit check, your credit score is only one of many factors we consider when making our loan decision. The approach we take prioritises your ability to make repayments in the decision process.

There are three main features of a payday loan which can include:

• Fixed fee: a maximum fixed cost of 4% of the total loan amount each month. All fees cannot exceed 20% of the amount you borrow, and these fees are capped (added) into the loan amount. Personal loans repayments and fees will be calculated using annual percentage rates (APR) which is different from this product offering.

• Selected repayment period: You decide your schedule over a 20 week period. You have the ability to customise this repayment schedule according to your personal situation.

• Selected repayment dates: Similar to the repayment period, you are able to customise the dates you’d like to make payments to suit your personal circumstances.

Your credit score is produced by a credit reporting body. It is calculated based on the contents of your credit report, including the number of credit applications you’ve made, your repayment history, and the amounts that you have borrowed.

Your credit score is typically a number between 0 and 1,000, or between 0 and 1,200, depending on the credit reporting body calculating the score.

Your credit score is used by lenders when assessing applications for credit. A higher credit score is usually associated with a lower level of risk to the lender should they decide to lend to you.

You have the ability to review your credit report for free through contacting credit reporting agencies directly, assuming that you are fine to wait 10 days to receive it. There may be additional charges if you require your credit report in a hurry (less than 10 days), or you are requesting more than one time per year. Here is a list of the credit agencies you can contact directly for your credit report:

• Equifax
• CheckYourCredit (illion)
• Experian

Your credit report may include but is not limited to, the following.

• Credit products - a list of credit products you’ve held in the last 2 years

• Repayment history - amounts that were due, when they were due, how often you paid these amounts and if it was made on time and any missed payments

• Defaults on bills and loans and credit cards - this is listed on your credit for non-payment of a debt

• Credit applications - any applications for credit including any loans you have guaranteed

• Insolvency - any bankruptcies or debt agreements

• Credit report requests - any requests for credit reports

A service provider is able to list a default for non-payment of a debt. This can happen if:

• The amount owed must be greater than $150; and 60 days or more has passed since the due date; and

• The credit provider has requested, in writing, that you pay the amount owed.

• Note: If your credit provider is unable to contact you they are able to list a default. This is referred to as a clear out.

We are proud to operate 100% online. This helps you to enjoy a quick from beginning to end. Apply online and provide as much information as possible. Include your supporting documents and submit your applications. When you are approved, you will receive a loan agreement. Once it is signed you are ready to go and the cash will be transferred to you. The entire application process can be completed same-day, and potentially within hours if all of the required information is provided with your initial application during business hours.

The information contained on this website has been prepared by Fundo and contains general information only. It is not intended to be relied on as advice. Credit applications are subject to credit assessment criteria. Terms & conditions, fees & charges and eligibility criteria apply. Target Market Determinations for our products are available here