Bad Credit Loans for Borrowers With Past Credit Issues
Bad Credit? We Can Still Help You Get a Loan
At SB Finance, we can help you find the right bad credit loan solution tailored to your needs.
We can help you understand how much you are eligible to borrow and what your repayments will be when you do proceed. Our experts will explain all other costs associated with getting a bad credit loan.
We have access to over 40 lenders, including all the major banks, allowing us to secure a competitive loan package to meet your requirements. We can help you get approved before you even begin making plans.
SB finance does not offer personal advice and aims to provide information which is factual and in-line with lenders requirements and a customers best interest. We encourage you to seek independent legal and financial advice before proceeding. our credit guide and Privacy disclosure is available on our website.
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At SB Finance we work with a broad panel of Australian asset finance lenders, so we can compare your options and structure the finance around your situation.
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How bad credit loans work
Bad credit loans are offered by specialist lenders who look beyond a credit score to your current income, stability and the reasons behind past issues. Rates are usually higher than mainstream loans, so the aim is often to rebuild your credit and refinance to a better rate later.
Before you apply, check your credit report so there are no surprises. You can request a free copy from each credit reporting agency every three months, as explained by Moneysmart. We then match you with lenders whose policies suit your situation, which helps you avoid multiple declined applications.
5 ways to improve your chances with bad credit loans
- Check your credit report for errors. If something is wrong, you can ask the credit reporting agency to correct it for free.
- Avoid multiple applications. Each application can be recorded as an enquiry on your file.
- Show stable income and employment. Recent payslips and a steady work history help specialist lenders assess you.
- Pay down or consolidate other debts. Lower repayments improve how much you can afford.
- Be wary of paid credit repair services. Moneysmart notes you can fix most issues yourself at no cost.
A broker can match you with lenders whose policies suit your history, so you apply once with the lender most likely to say yes.
Bad Credit Loans: Frequently Asked Questions
Yes! With access to some of Australia’s largest lenders, we do have lenders on our panel that will consider bad credit or defaults subject to the application. Speak with our team to find out more!