Small Loans Fast! Find Lightning Fast Lenders With Monzi

Small loans fast: where can I find them and how do I apply? Let Monzi’s lender-finder service take the stress and hassle out of finding finance online. Apply with us and we’ll do our best to match you with a lender potentially offering fast small cash loans.

Monzi is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

Small loans fast – what does it all mean?

As the name suggests, small fast cash loans are unsecured loans of $2,000 and under that may be available to consumers with poor credit history. In addition, fast cash lenders will aim to assess applications as quickly as possible.

The table below outlines some common examples of these small loans:

Fast small loans AustraliaSmall loans fast
Small cash loans fastInstant approval loans
Small money loans fastLoans online instant approval

Where is the best place to apply for instant loans?

Wondering how you can get your hands on quick cash? Let’s introduce you to Monzi’s lender-finder service.

In short, we may be able to take the hassle and tedium out of securing finance online. In other words, Monzi does the legwork for you and tries to match your application with a potential credit provider. As a result, you can skip the time spent online browsing for lenders, or the hours wasted filling in multiple applications.

In short, Monzi may be able to match you with a lender who may process your application so quickly, it’ll feel like almost instant loan approval.

Am I eligible to apply?

Our eligibility criteria are super simple. In fact, you will only need to check the following four boxes to apply.

  1. Are you over the age of 18?
  2. Do you hold an Australian Citizenship or Permanent Residency?
  3. Do you have a personal mobile number and email address?
  4. Have you received a regular income into a personal bank account over the past 90 days?

How can I get a small loan fast?

Submitting an application on our website is as easy as 1, 2, 3. Furthermore, we may pair you with a potential lender in no time. Here’s how it all works:

Step one

  • Head to our website and select the small loan amount and repayment terms you’re thinking of borrowing.
  • You’ll be given examples of what the weekly, fortnightly and monthly repayments may be on your loan. These are just a guide; the actual cost of your loan may vary.
  • Hit ‘Apply Now’ if you are happy with your selection.
  • Provide all necessary information in our application form.

Step two

  • After you complete your application, Monzi takes over.
  • We’ll aim to pair your application with a potential credit provider.
  • We’ll give you an outcome via text and email.

Step three

  • If you’re matched with a credit provider, they will conduct an assessment. If they approve your application, they’ll send through a digital loan contract.
  • It is important you read through your loan contract and make sure the amount offered is suitable for your circumstances.
  • Your funds will be transferred if you approve your contract.
  • Access to funds is determined by inter-bank transfer times. Generally, however, you should be able to access your loan within 1 business day of approving the contract.

Are there any guaranteed loans for people with bad credit?

The short answer is, unfortunately, no. There are personal loans designed for consumers with bad credit, but there’s no legitimate lender offering a guaranteed loan no matter what.

This is due to the fact that credit providers are required by Australian consumer law to lend money responsibly. As a consequence of this, lenders must assess whether or not a loan product is suitable for the consumer.

Specifically, credit providers must take the following three steps:

  1. Make reasonable inquiries into a consumer’s financial situation and objectives.
  2. Take reasonable steps to confirm the consumer’s financial situation.
  3. Make an assessment as to whether the loan product is suitable for the consumer.

Monzi will not pair you with any lender offering guaranteed approval, and for good reason. However, if your credit score is looking a little bruised, Monzi may be able to match you with a lender potentially offering small fast loans bad credit.

What is a no credit check loan exactly?

As the name suggests, no credit check loans are a type of loan that is processed by a credit provider, without considering the borrower’s credit history. As a result, such loans are typically popular amongst borrowers with poor credit history to cover an unexpected or emergency cost.

Specifically, here’s how no credit check loans work:

  • Your credit report will not be considered. This is at the core of a no credit check loan. The lender will not request a copy of your credit report from a credit bureau.
  • The loan will be listed on your file. Despite not checking your credit report, lenders will still tell the credit bureau you applied for a loan. If you are approved, this will be listed on your report.
  • Your bank statements will be checked. Lenders will use the last three months of your banking history to ascertain whether or not you can afford the repayments.
  • You need to earn an income. You may need to provide evidence of your employment or income.

Can I get a loan without a credit check?

Conducting credit checks are part of a lender’s individual assessment policy. In other words, it is at the individual lender’s discretion whether or not to credit check your application.

Because all of the lenders within our network are separate entities, we cannot speak to their assessment policies. Therefore, Monzi cannot guarantee whether or not lenders will offer no credit check loans with instant approval.

If you are concerned a credit check will ruin your chances of approval, don’t stress. Monzi’s network of credit providers is often able to consider more than just your credit score. Specifically, lenders will take into account your regular income, expenses, as well as your banking history.

Can you get a loan without a job?

It is possible to secure a loan if you have no job. You will, however, need to show you are earning an income. After all, you will need to be able to afford your contractual repayments.

How do you earn income if you don’t have a job? Well, certain lenders may be able to regard regular Centrelink payments as a form of income. In other words, you may be considered for approval if your normal Centrelink payments comfortably cover both your regular expenses and potential repayments.

Certain lenders, however, may have regulations surrounding:

  • The kinds of Centrelink benefits they are able to consider.
  • The percentage of your income benefits can make up.

Outside of government benefits, you may be eligible for a loan if you earn regular money from something like a rental property.

In other words, you may be eligible for fast small loans for unemployed if you can prove you earn an alternative income.

Small loans Centrelink customers

As we mentioned above, receiving Centrelink does not automatically disqualify you from being approved for a personal loan.

In short, there may be lenders within our network able to offer small loans for people on Centrelink. Just remember to keep all your myGov and Centrelink information handy when you apply.

Black and white image of person browsing for small loans fast online

Small loans fast approval

Let’s paint a scene. Let’s say you’ve just woken up to the sweet melody of a broken washing machine. To make things even better, you’ve just had all your bills due at once. All-in-all, you need cash in your account and pronto!

If you’re looking for fast loans online, it’s obvious you’re searching for a lender that can offer quick money. Luckily, Monzi and our lenders both have speed and convenience at the front of our minds.

In short, Monzi will try and find you a lender straight after you complete your application. If you apply during normal business hours, we may have an outcome for you within 60 minutes.

Next, if we pair you with a lender, they will get to work assessing your application as quickly as possible. Admittedly, assessment times vary between lenders, so we cannot give you an exact quote. However, you can be sure lenders will try and assess your application as quickly as possible to offer the instant loan you need.

Can Monzi find me more than small loan lenders?

Yes! Monzi has over the years built up a strong network of credit providers that may be able to offer personal loans ranging from $300 to $10,000.

More specifically, the lenders we work with may be able to offer both medium and large personal loans.

Medium personal loans are secured loans ranging from $2,100 to $4,600 and have repayment periods ranging from 13 to 24 months.

Large personal loans are also secured and may be available from $5,000 to $10,000. Much like medium personal loans, large fast loans have repayment periods ranging from 13 to 24 months. However, repayment terms may vary depending on the lender you’re paired with.

What assets can I use as collateral?

For any loan over $2,000, consumers may be required to use one of their assets as security against the loan – this can be a car, boat, caravan or motorbike as an example.

What is the point of security? Attaching an asset as collateral against a loan reduces the level of risk posed towards the lender. After all, if a consumer defaults on their loan, lenders are able to recoup some of their losses through repossessing the asset.

Because secured loans are less risky for lenders, consumers are often able to apply for larger amounts than unsecured loans. Specifically, Monzi may be able to match you with a lender potentially offering secured personal loans from $2,100 to $10,000.

What happens if I fail to repay a secured loan?

If you default on your loan, your credit provider may begin the repossession process. Generally, however, lenders will only start the repossession process if every other option has failed.

In addition, consumers are also protected by Australian law in the event of repossession. For example, if you owe less than $10,000 or less than 25% of your loan (whichever is less), lenders cannot legally repossess your vehicle without a court order.

If you are falling behind on your repayments, your credit provider may provide you with a default notice, allowing 30 day period to pay the outstanding amount. To avoid repossession, you must, within this 30 day period:

  • Pay the overdue amount.
  • Negotiate a resolution.
  • Request to postpone repossession.

Need cash today? Looking for instant approval loans?

Okay, so you’ve got an emergency expense breathing down your neck. However, your bank balance is in no state to deal with this at the moment. What is one meant to do? You could, for example, consider applying with a lender offering small loans with fast approval.

Keep in mind, fast approval does not mean guaranteed approval. Instead, instant approval really just means you will get an outcome on your application fast.

Depending on the credit provider you are paired with, your application may be assessed in no time. From there, consumers are sent a loan contract upon approval. It is completely at the discretion of the consumer whether to approve or decline the contract offered to them.

The benefits of small loans fast

Instant cash loans online are just small personal loans that can be applied for in no time, and potentially processed the same day. In addition, these lenders often keep their eligibility criteria quite open.

Here are some of the benefits of opting for small fast cash loans.

  • Apply for the exact amount you need. Credit providers will generally offer small loans from $300 to $2,000. As a result, consumers can apply for the amount they actually need.
  • Easy repayments. Generally, a direct debit is set up from your account. Therefore, repayments will automatically be deducted, so you don’t have to worry.
  • Apply from anywhere. If you have an internet-capable device and a signal, you can lodge an application on our site. If you apply during business hours, you may even have an outcome within 60 minutes.
  • Fast access to funds. Lenders will transfer funds after the consumer approves their contract. Depending on the lender, as well as your banking situation, you could receive your funds the same day you apply. Otherwise, consumers will most likely have access to their funds by the next business day.

I’m trying to find the best small loans in Australia

We cannot guarantee Monzi will be able to pair you with the best lender in Australia. After all, what does the best lender in Australia even mean?

What one consumer may value, another may consider irrelevant. As a result, we cannot provide an answer to the best short term lender in the country.

There are, however, certain loan features consumers should consider before applying for cash loans. More specifically, weigh up what features are important to you and fit your needs and objectives.

Here are some examples of loan features you could consider:

  • Processing times. Need quick cash? If so, prioritise finding a lender with quick processing times.
  • Interest rate. Obviously, the interest rate charged will have a big impact on the total cost of your loan.
  • Transparency. Aim to work with lenders that are completely upfront about all the fees and charges associated with the loan.
  • Repayment terms. Consider whether you would rather paying your loan off in a short space of time, or spread the repayments over a longer period of time.
  • Security. Considering applying for a loan over $2,000? Lenders may require you to nominate one of your assets as collateral.

Comparison rates explained

Comparison rates make it easy for consumers to compare different loan products. Furthermore, comparison rates can be especially useful when comparing loan products from different lenders.

In short, comparison rates reduce most of the loan’s fees and charges down to a single percentage figure. As a result, comparison rates make it simpler for consumers to get an idea of the true cost of a loan. After all, it can be difficult to compare loans that all have different fees and charges.

Consider the following:

Loan A

  • Interest rate: 10%
  • Fees and charges: 0.5%
  • Comparison rate = 10.5%

Loan B

  • Interest rate: 10.25%
  • Fees and charges: 0.1%
  • Comparison rate = 10.35%

Therefore, loan B will cost less than loan A, despite loan A having a lowering interest rate.

Keep in mind, comparison rates may not reflect every charge and fee associated with your loan. For example, comparison rates may not take into account certain penalty fees etc.

Case study: Leslie finds work

Leslie has graduated from university recently. Since then, she has been working a few shifts a week at the local supermarket. Centrelink benefits also make up part of her income.

One afternoon, Leslie receives a call from one of the employers she applied with. She has secured an interview for the following week. Therefore, she realises she needs to purchase a new blazer, as well as fill up her car, as the interview is quite a drive away.

Leslie, however, lives paycheque to paycheque. To make matters worse, she doesn’t receive any money until the day after the interview. As a result, she decides she needs a small loan of $300.

After applying with a lender online, Leslie receives an outcome within 60 minutes. She secures approval! She signs her contract and her lender transfers her cash. The lender sets her repayments up over the coming months.

What can I use small loans fast to cover?

In short, consumers can spend small personal loans essentially like cash. In other words, you can use your money to cover almost any personal expense.

Here are some ideas of what you could use your money to cover:

Medical costs

The cost of covering medical treatment or supplies can often be quite expensive. However, don’t deprive yourself of the medical aid you need just because you don’t have enough cash in your savings.

So, if you need a cash injection to cover a trip to the dentist, or to pay for medicine, Monzi’s lender-finder may be able to help.

Small loans fast for holidays

Personal loans can cover more than just expected or emergency expenses. Moreover, you could use your funds to help pay for the holiday of your dreams.

We can picture you now: staring at your office wall clock but dreaming of laying on a Fijian beach. We think it’s high time for a break from the 9 to 5 grind.

You could use your personal loan to cover travel costs, or even use as spending money overseas. Just remember, even if you are going on holiday, your repayments aren’t. Therefore, you will just need to make sure you are making repayments according to your contract.

Moving house

Consumers can spend cash loans like, well – cash! Therefore, consumers can use their funds to cover any part of the relocation process.

For example, you could use your funds to pay for the rental bond and secure the property for yourself. Moreover, you could even use your cash to hire removalists and a truck. In short, it’s up to you.

Renovating your home

Instead of moving places, you could use your cash to help cover the cost of renovations or DIY home improvement.

Looking to install an air conditioner for this upcoming summer? Perhaps your bathroom is in dire need of a facelift? Whatever it is, personal loans can cover it all.

Let’s start!

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You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.