Can I get a $500 loan if I have bad credit?
Yes – in many cases, you can successfully apply for a $500 loan with bad credit. In fact, your past borrowing history is unlikely to prevent you from qualifying for a cash loan. Lenders do look at your credit report, but that’s mainly to check existing borrowing and your record dealing with similar cash loans in the recent past.
Qualification for small loans is assessed on the basis of affordability and lenders follow responsible lending guidelines while they examine your finances. What that essentially means is if you can afford to repay a cash loan without causing yourself financial stress, you’re likely to have no issues qualifying.
Assessable income can come from a variety of sources with a $500 loan application. You can apply for a cash loan on Centrelink; you’ll just need to supply a Centrelink Income Statement, which you can download by logging into your MyGov account. Lenders will consider Centrelink income as long as it makes up no more than 50% of your total. You can also apply for a $500 loan if you’re a pensioner.
$500 instant cash loans approved
Need to borrow $500 fast? You can apply for a cash loan today and do everything you need online. Use a small cash loan for any purpose, choose a repayment option to match how you receive income and pay fixed fees.
With Savvy, you can borrow anything between $300 and $5,000 with one. All fees are capped and are represented as a simple percentage of the loan amount. Applications for small loans are conducted entirely online and approvals are quick. Borrowers can upload supporting documents via lender websites and fill out application forms online too.