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Private Finance

Apply for private finance options up to $5,000 through Savvy today and receive an instant outcome tailored to your needs.

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Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on November 29th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

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$500
$50,000


Paid in 60 mins if approved*
Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on November 29th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

When your financial needs call for a personalised touch, you can turn to private finance options available through Savvy. Partnered with flexible and understanding lenders, you can not only receive instant outcomes but also enjoy the potential prospect of formal approval and funding on the same day you apply. Initiate your journey towards financial empowerment by exploring the tailored solutions available through us today, with loans starting from $2,050 and going up to as much as $5,000.

What is private finance and how does it work?

Private finance is a type of fast cash lending which presents an alternative to banks and credit unions. They’re a quick way to get some extra cash when you're in a tight spot, such as for unexpected expenses or when you're waiting for your next paycheque. With a small loan through a private financier, you borrow a small amount and pay it back in weekly, fortnightly or monthly instalments over a specific period, which may be as few as 16 days to as many as two years.

Understanding the costs for your small loan with a private financier is important. The fees depend on how much you borrow and how long it takes you to pay it back. There are two main fees to consider: the monthly fee, which is capped at 48% of your loan amount per year, and the establishment fee, capped at $400.

How much can I borrow with private finance?

Private finance options through Savvy can enable you to borrow amounts ranging from $2,050 to $5,000, depending on meeting the necessary lender eligibility criteria. This range can cater to diverse financial needs, providing individuals with the flexibility to choose an amount tailored to their specific requirements. It's essential to recognise that each applicant's borrowing capacity is shaped by factors like credit score, income, existing liabilities, savings, and other financial considerations.

Ultimately, the amount you can be approved for is determined by what you can comfortably repay. Your income, which must be sourced from a stable job or jobs with consistent pay and hours and/or eligible Centrelink payments, plays a pivotal role. If, for instance, you're aiming for a loan with fortnightly repayments of $500 but only earn $400 per fortnight, this may not be a viable option for you.

How do I apply for private finance with Savvy?

Securing private finance through Savvy is a simple and efficient process. The online application form, taking only a few minutes to complete, allows you to provide necessary information about yourself, your income, employment, and more. After submitting your application, you'll receive an instant outcome within 60 seconds. If approved, the lender you’re matched with will conduct a formal assessment of your application, which may involve additional documentation in some cases.

Following the successful completion of the necessary checks, your lender will offer formal approval and send you loan documents outlining all terms and conditions, including the repayment schedule, term, fees, and more. After reviewing and signing the documents, return them to your lender, and the funds can be advanced to your nominated account, as soon as the same day (depending on how long it takes to process). You'll then begin repaying the loan according to the chosen schedule.

Why apply for a small loan with Savvy?

Frequently asked questions about private finance

What is the turnaround time for private finance?

Private finance solutions aim for efficiency. If your application aligns with the lender's criteria and you submit the required documentation promptly, formal approval and funding can occur as swiftly as the same day of application. Consideration of factors like application complexity, the lender's processing pace, and whether you submit it during business hours can influence the overall turnaround time, though.

Is private finance available for those with bad credit?

Yes – private finance remains an option for individuals with bad credit. Unlike traditional lenders, who are often more fixated on credit scores, providers of private finance tend to have a more adaptable stance. Past credit issues are typically considered less critical as the focus shifts to your present finances during the application evaluation.

Is early repayment an option for private finance?

Yes – opting for early repayment with private finance is a smart strategy to reduce your overall costs. Private finance solutions typically do not impose penalties for early settlement, meaning the quicker you clear your debt, the less you'll be charged in monthly fees, providing you with valuable savings.

How can I use funds from private finance?

Funds from private finance offer versatility in usage. Whether you're covering urgent bills, financing emergency home improvements like fixing a leak, or managing everyday expenses, the flexibility of private finance ensures you can allocate the funds according to your specific financial requirements.

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Disclaimer:

The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.

For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.

Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

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