Small Loans in Australia 2023 – How to Get Your Cash Advance

Unexpected expenses and the overwhelming desire to get something can crop up at the most inopportune time; when you have no cash.  If you’re struggling to make ends meet or just need a bit of a cash advance to help you pay for something,  a small personal loan is just what you need. Small personal loans are easy to apply for, easy to pay back, and absolutely affordable. What’s more is that they’re far easier to achieve than traditional bank loans, especially if you have a less than perfect credit score, are self-employed, or earn some of your income from Centrelink or other government benefits.

Applying for small loans has never been easier. Simply spend five minutes completing our Pronto Paydays online application form and receive the cash you need on the very same day. 

With, there’s none of the waiting around, nailbiting and uncertainty often associated with loan models of the past. We believe in a speedy application and payout process, and we work with only the most reputable small personal loan providers in Australia – this is a recipe for short term lending success. 

What Are Small Loans? How Does it Work?

While no rule stipulates just how much a small loan is, most lenders agree that it’s anything from $200 to $2,000 – in some cases, it can be as much as $5,000. At Pronto Paydays we offer loans of up to $10,000. Small loans are paid back over 30 days to 12 months, but there are cases where loan terms extend to as long as 24 months – it all depends on the lender and your unique financial situation.

Life happens, and when it does, you need to be prepared financially. That’s why most people use a small loan to pay for:

  • Home repairs
  • Dental or medical bills
  • Replacing white goods
  • Vet expenses
  • Equipment and machinery
  • Replacing and repairing appliances and furniture
  • A once-in-a-lifetime vacation deal

There’s really no end to what you can do with a small personal loan.

When taking out a short term loan, you apply to borrow a certain amount of money and pay it back with interest weekly, fortnightly or monthly over a stipulated period.

Types of Small Loans

There are various types of loans that fall into the small loans category in Australia. These include:

Features Of a Small Loan

All small loans share the following features:

Loan Amount

Most small loans range from $200 to $2,000 or more. However, at Pronto Paydays we offer small loans of up to $10,000. You can choose the loan amount that works best for you. In most instances, if the lender can’t provide you with the required loan amount, they will make a counter-offer for you to consider.

Term Of Loan

Before a loan term is set, the lender will review your application and carry out an affordability analysis. The term is set according to what you can afford. Most short term loans at Pronto Paydays are paid back over 30 to 90 days, but we also provide access to loans that run over 12 to 24 months. Again, it all depends on the lender.

Repayment Schedule

How you repay your loan is determined by how your income is paid to you. For example, if you earn a weekly wage, the lender may require weekly payments. Fortnightly and monthly payments are also an option. Before you sign the loan agreement extended to you, take the time to scrutinise the repayment schedule to ensure you can realistically keep up with it.

Fees Charged

If you’re applying for a loan of $2,000 and below, you can expect an interest-free loan deal to be extended to you. This is because the Australian Securities and Investments Commission provides guidelines on the maximum fees a lender can charge on small short term loans.  You can expect a maximum establishment fee of 20% and a monthly service fee of 4%. If you are interested in loans of more than $2,000, you can expect 48% annual interest. That said, you may find that many lenders lower their interest rates and fees to remain competitive. 

Interest, establishment, and monthly service fees are not the only costs you should be concerned about when applying for a small personal loan. In addition, you should investigate the lender’s policies in terms of an early exit, early repayment, or late/missed payments.

Lender Reputation

Being matched with a credible and reputable lender is important when applying for a loan. If you receive a loan offer from a lender that has no readily available contact telephone number and email, transparency may be an issue. The lender should also have a registered credit license in Australia and have online reviews that provide further insight into their conduct. While the lenders on our panel at are some of the best in Australia, it’s always worth your time investigating the lender before signing a loan agreement.

Disbursement Time

Small online loans come with the perk of quick application processes and fast payouts to match. Instant cash lenders pay out the requested loan amount within one hour of the loan being approved: no waiting around, no quibbling and no stress. The money you need is on its way almost as soon as you apply for it!

Choosing The Best Small Loans

Consider the following when comparing small lenders to choose the best one for your needs. The small loan you choose should:

  • Have a reasonable interest rate.
  • Have no hidden fees.
  • Be provided by a reputable lender.
  • Have a quick, easy, and online application process.

Examples of Small Loans

Here’s a quick look at some of the instant cash loans available when applying for a loan at Pronto Paydays.

Lender Max Loan Loan Term Disbursement Fees
Nimble $2,000 2-12 months 1 hour 20% establishment
4% service fee
Swoosh $2,001 12 months 24 hours 48% interest

Of course, these figures are just estimates and can change without prior notice.

Advantages and Disadvantages


Quick Cash Payouts

When financial emergency strikes or an unexpected expense crops up, there’s no need to wait around for the cash you need. A small loan at is paid out within one hour of loan approval.

Quick and easy online application process

Applying for a loan has never been easier. You can complete the process from the comfort of home or work, and it takes just a few minutes.

Small Personal Loans Have No Interest Expense

Small loans of less than $2,000 are 100% free of interest. That means you get to cut back on pesky interest rates that tend to mount up with bigger loans. Loans above $2,000 and up to $10,000 at typically come with 48% annual interest attached.  Of course, all loans come with fees, but small loans only have a 20% establishment and 4% monthly service fee.


Expensive Lending Option

Unfortunately, while small loans available online are convenient in every sense of the term, they’re not cheap. Short term and instant loans are some of the most expensive borrowing options in Australia.

Eligibility Criteria

To get the small loan application process started, make sure that you meet the minimum requirements of our lenders.  Small loans are available to:

  • Individuals who are 18 years or older
  • Citizens and permanent residents of Australia
  • Individuals who have an Australian address and have lived there for three months
  • Income earners of at least $350 per week
  • Individuals who get less than 50% of their income from Centrelink and other government benefits
  • Individuals with a good credit score – this isn’t essential, but in some instances, it can help with  loan approval

Application Process

Applying for a small loan at Pronto Paydays is a quick and easy process. You can loan any amount from $200 to $2,000, but we can also assist with larger loans of up to $10,000.

Here are the steps to follow if you want to apply for a fast online loan:

Step 1: Prepare Your Supporting Documents

Once your application is in the system, you may be required to provide supporting documents. Make sure you have the following handy:

  • Your ID, driver’s license or Medicare card
  • A copy of your bank statements
  • Proof of address
  • Payslips or proof of income

Step 2: Fill Out the Online Form

Our online application form is designed to provide all the essential verification information required by our panel of lenders. The first step is to input how much you wish to loan and how many months you want to pay it over.

Then, proceed to input your personal details, including the following:

  • Name and surname
  • Address
  • Employment particulars
  • Financial information (your bank details are required to set up an automatic debit)

Before clicking “apply,” there is one more thing you need to do, and that’s to read through the privacy policy and the terms and conditions. This is an essential part of the process.  There’s no need to worry about your details falling into the hands of a third party – we will never share or sell your data.

Step 3: Wait for Approval

Once you’ve submitted the application form, simply wait for our panel of lenders to review our request. In just a few minutes, you should receive a loan offer. If you’re rejected, you will receive a message advising you of such. However, if you are accepted, we will transfer you directly to the lender’s website so that you can take the process to the next step. Please note that the loan offer from the lender is obligation-free. You are well within your right to turn it down if it is not what you expected or doesn’t meet your needs.

Step 4: Finalise the Loan Deal

Once you’ve been transferred to the lender’s website, you may be required to provide your supporting documentation and answer further questions – at this stage, the lender may be in touch with you via telephone or email. Once the finer details of the contract have been nailed down between you and the lender, you can expect to receive a copy of the loan agreement. This will require a signature before the money is transferred into your bank account. Most lenders provide a digital contract that can be e-signed online for total convenience.  Of course, you should only sign the agreement once you have read all of the terms and conditions.

Step 5: Put Your Funds to Work

Once the lender has your signed loan agreement, they transfer the money into your account. This takes around one hour from the time of approval – yes, it’s really that quick! If there is a delay for some reason, most lenders will ensure that the funds reach you within 24 hours.


I am Bankrupt. Can I get a Small Loan?

Being bankrupt doesn’t automatically exclude you from getting a small loan. What comes into play is the affordability of the loan and if you are earning some form of regular income. If you can prove you are receiving more than $350 per week and that your monthly expenses don’t exhaust your monthly income, it’s worth applying for a loan.

Do I Need Collateral to Apply for a Small Loan?

While having some form of collateral can help you gain approval for a small loan, it is not essential. Many of the short term lenders we work with offer unsecured small loans of $200 to $10,000. If you don’t have collateral, the lender takes a closer look at your credit record, your affordability analysis, and how much you’re hoping to borrow.

Will I be Penalised if I Want to Repay My Loan Sooner?

Many of the lenders on our panel allow borrowers to settle their accounts early without any penalties. That said, it’s best to check with the lender to ensure that there’s no late payment, early settlement and early exit fee attached.

Can I Apply for a Pronto Paydays Small Loan Over the Weekend?

While you can apply for a small loan over the weekend, not all lenders are able to finalise the loan amount immediately. There may be delays over the weekend and on holidays.

I am on Government Benefits. Can I Apply for a Small Loan?

Individuals on Centrelink and government benefits are welcome to apply for small loans, but there are stipulations in place. Recipients of benefits can apply for a small loan if they earn more than $350 per week and less than 50% of their income comes from Centrelink and government benefits.