Do you have any queries in relation to our small amount loans?
Here are some FAQs that might help. In case you have any other questions, please email us at email@example.com.
* About Stress Less Money
Who is Stress Less Money ?
- Stress Less Money is a new entrant to the small amount lending industry. However, its owners have more than 30 years of experience in lending and looking after people like you, and we understand that you need money in a hurry. We offer a simple loan application process and in many cases, we can pay the money into your nominated bank account within 24 hours.
Will Stress Less Money check my credit history? What if I have a bad credit history?
- Yes, we will check your credit history during the verification process. However, this is not the only criteria for Stress Less Money. For us at Stress Less Money it is just as important for us to understand your ability to make the repayments and the reason why you may have previous credit infringements. We will also look at your credit history to determine whether you have had other small amount loans in the previous 90 days. Additionally, we will not lend money to anyone who is Bankrupt or applying for bankrupcy or in a Part 9 agreement.
How much does it cost?
- We charge an establishment fee of 20% of the amount borrowed (excluding any fees that you finance), and 4% each month of that same amount. If you’re still unsure about the costs , visit our loan repayment calculator or call us on 1300 889 688.
Are there any hidden costs?
- No hidden costs! We want to give you peace of mind and will be crystal clear in telling you exactly what you owe under the loan.
Will my application be considered if I apply after business hours?
- We assess new applications within an hour of receiving the required documents and information, when they are received Monday to Friday from 9am to 5pm (Sydney time). If you submit your application outside of these hours we will process your application first thing, on the next business day.
How can I make a complaint?
- We are always interested to know your thoughts, even if it happens to be a a complaint. To make a complaint please email us at firstname.lastname@example.org, or call us on 1300 889 688
* About the loan process
Would a small amount loan would benefit me?
- Financial bumps are unexpected and can hit you at any point in time. Small amount loans are designed to help you through this period. (Note: Small amount loans are expensive and you should consider whether or not they are right for you)
How do I apply for a small amount loan?
- We have created the application process to be as simple as possible. So, you can apply for a small amount loan online, from your home or your office, and provided we receive your application during our operating hours (Monday to Friday, 9:00am – 5:00pm, Sydney time) you will usually receive an answer with in an hour of completing the application.
How do we process your small amount loan?
Your income and expenses verification
After receiving your application, we verify your income, expenses and other relevant information that we will use to determine whether you can afford to repay the loan for which you are applying. As part of the process we are required by law to obtain and consider your bank statements for the past 90 days for the account into which your income is paid. You may provide these statements to us directly, or alternatively you can authorise a third party service provider to obtain and provide us with those bank statements.
- Loan set-up after approval
If your loan application is approved, we will email you a small amount loan contract and direct debit request form.
After reviewing the repayment schedule and the costs and the terms of the small amount contract, if you would like to proceed, simply reply to the original email advising us that you accept our offer.
- Money could be in your account in 24 hours.
We transfer your loan funds via EFT into your nominated account. How quickly we are able to do so depends on who you bank with and the time you submitt your application.
What criteria do I need to satisfy to be eligible to apply for small amount loan?
- We will consider you eligible to apply for small amount loan if you are all of the following:
- 18 years of age or older
- An Australian resident
- Employed for over 25 hours per week or have a minimum annual income of $25,000
- A permanent full time or a permanent part time employee or in some cases a permanent casual employee
- Able to provide bank statements for the past 90 days
- Able to satisfy our identification requirements
- Not in receipt of more than 50% of your income from social security benefits
- Not bankrupt or in or a party to a Part 9 debt agreement
How much can I borrow?
- Minimum amount of $300 and to a maximum of $2000.
Can I renew a loan with Stress Less Money?
- Yes you can, but only if you have repaid any prior small amount loan you have with us.
* About my financial position
What happens if I cannot make a payment on my due date?
- Call us immediately on 1300 889 688 and discuss with one of our friendly customer service representatives. If you don’t contact us you may be charged additional fees.