Many of us have this wrong notion that only those who have full time employment can apply for a loan either with a bank or a non-bank credit provider. What Aussies should know is that even those who work for less than a 40 hour week are entitled to the same access to finance given to full-time workers. If you make an inquiry with your bank or a reputable financial institution you’d be surprised at the accommodation they may give you even if you are holding part-time or casual employment.
Most banks in Australia have more stringent processing to follow when it comes to loans for part-time and casual employees. This is because banks prefer not to undertake what they consider to be ‘risky’ investments. Banks would rather have security on their investments even if it meant closing their doors to revenue opportunities.
Non-bank credit providers, on the other hand, are more understanding of your situation and circumstances, and the need for immediate funds which can’t be covered by your immediate wages. If a family emergency occurs and you can’t turn to family or friends, you can approach non-bank lenders in Australia for assistance.
Part-time and casual workers are entitled to have access to appropriate loan facilities that will relieve some of their financial burden.
This type of loan facility is made available for Australian residents holding partial employment (part-time and casual). Work-at-home mothers also qualify for this particular loan facility. When you apply for a part-time or casual employment loan, you can choose the loan amount you wish to borrow, as well as the repayment period or loan term.
The application process for this type of loan is similar to the application process for any type of personal loans. Many non-bank lenders will require documentary evidence of your identification, what your regular level of income is and your latest bank statement for the past 90 months. And like in personal loan applications, the lender will validate your personal and financial circumstances before they approve or reject your application.
Upon approval of the loan, the lender will cause the transfer of the loan proceeds to your account directly, and you can use it anytime you desire.
Are you employed part-time or casually? We may be able to help you get a suitable loan. You can check our short-list of requirements and apply for a loan immediately.