Cash loans from Fundency, a licensed Australian credit provider

Fundency Pty Ltd (ACN 608 160 158) trades as Fundency and holds Australian Credit Licence 496643. We are a direct lender of unsecured small amount and medium amount credit contracts for people who need a short-term personal amount and who can repay it. Loan amounts range from $300 to $5,000. This page is the starting point for that product: what it is, what it costs, how an application is assessed, and when you should not apply.

Apply online when you have a defined personal expense, a regular income, and a budget that can absorb the repayments. Do not apply to cover an ongoing shortfall, to stack another small amount loan on top of loans you already cannot service, or if you are in financial hardship. Our Target Market Determination sets out who these contracts are designed for and who they are not designed for.

What you can use a Fundency cash loan for

People use a Fundency loan for a one-off personal need such as car repairs, medical bills, education costs, utility arrears, rental bond, or home repairs. The contract is unsecured: we do not take a car or house as security. That makes the application simpler, and it also means the cost of a small amount of credit is higher than a longer-term bank loan. Read the warning about borrowing before you continue.

A Fundency loan is not a line of credit, a credit card, or a way to refinance a long-term debt. If you need help with multiple debts, start with a free financial counsellor on 1800 007 007 and our loan consolidation information. Consolidation through Fundency is not always available and is never a substitute for hardship support.

How an application is assessed

You can start an application online at any time. Customer care is available Monday to Friday, 9 am to 5 pm (AEST) on 1300 560 942 or [email protected]. Starting an application is not an approval. We must assess whether a proposed contract is not unsuitable. That includes inquiries about your requirements and objectives, your income and expenses, and your existing debts, plus reasonable steps to verify what you tell us.

We look at your current financial position, not only a credit score. A past default does not automatically rule you out, and a clean file does not automatically mean we can offer a contract. We may decline. Funds are transferred to a nominated Australian bank account only after a contract is approved and accepted. Timing after that depends on your bank. None of that is a promise of same-day money in every case.

What a Fundency loan costs

For small loans up to $2,000 we do not use an annual percentage rate. These contracts are based on fees, not interest. The APR is 0%. There is a 20% establishment fee and a 4% monthly fee. Example: borrow $1,000 and repay $1,320 over 3 months.

For medium loans from $2,100 to $5,000, the APR is a maximum of 48% (comparison rate 65.6597%). That includes a $400 establishment fee. Example: borrow $3,000 and repay $4,289 over 1 year. Use the loan calculator to see example weekly and fortnightly repayments. Calculator figures are estimates only and are not a credit offer. The contract we can offer, if any, depends on the assessment.

After you apply, and if something changes

If you are approved and accept a contract, repayments can be made by debit card or direct debit. If your circumstances change and you cannot meet a repayment, contact us before it is due. Hardship options depend on your contract. Independent help is also available through MoneySmart and free financial counselling. Complaints start with Fundency; if we cannot resolve the matter you can use the Australian Financial Complaints Authority (AFCA). Details are on our contact, credit guide, and complaints pages.