Personal loans for bad credit

Do you need money as soon as possible because you’ve lost your job, your working hours have been reduced, or you have unexpected expenses? Moreover, you also don’t have a great credit score or credit history after thorough credit checks.

A personal loan can help you meet your short-term financial situation. Many applicants seeking to obtain a loan are unable to do so due to their poor credit scores. Get in touch with MiFinance today to secure your financial future, even if you have a bad credit history.

What are personal loans?

Personal loans are unsecured loans offered by financial institutions and are based on employment history, repayment capacity, income level, profession, and credit history.

An increasing number of people is using personal loans to cover higher bills. One of the reasons for the surge in popularity of personal loans is that they are unsecured loans that do not demand any collateral and have a rapid processing period.

A personal loan can be obtained from any bank or credit union, or non-traditional financial institution of your choice. With the development of financial institutions’ online services, you can have the loan amounts in as little as 48 hours.

What are bad credit personal loans?

Bad credit loans are designed specifically for folks who have a bad credit rating. A loan with bad credit has set interest rates and are paid back in regular instalments. Bad credit personal loans are usually unsecured, meaning this cash loan is not backed by anything.

Loans for people with bad credit are frequently repaid in monthly payments over one to five years. You can use the money for nearly anything, including home improvements (home loans), medical expenses, a car loan, credit card debt consolidation, or other personal expenses.

Balance transfers can be an excellent way to get out of a large credit card debt. You can pay off more minor obligations with high interest rates by making one monthly payment rather than several.

A bad credit loan should only be utilised when your financial future absolutely demands it, such as when you’ve been turned down for a personal loan by lenders due to your low credit score or your inability to pay off an existing loan, and you’ve been labelled as “bad credit borrowers”.

Why choose online lending sources, like MiFinance?

Easy-to-follow and quick cash loan application instructions

With a straightforward personal loan application, approval, and disbursal process, you can experience the convenience of using an online loan service. Traditional personal loan applications can be lengthy and time-consuming. All of the processes in our newly designed user experience are designed to be as simple as possible to help you get a personal loan even if you’re termed as “bad credit borrowers”.

Competitive interest rates

MiFinance has created relationships with lenders with one primary purpose in mind: to provide clients with competitive rates for all loan amounts. Whether you’d like to look into small unsecured personal loans or large secured loans, our loan lenders can help by lowering your borrowing costs.

No in-depth credit checks

We locate lenders who consider factors other than your bad credit score. MiFinance has a vast list of reputable lenders and provides loans to people with bad credit. Get your loan approved today, and our team of experts will work with you to secure the best loan options.

Certified and experienced lenders

We come under the National Consumer Credit Protection Act 2009, and all the lenders associated with us have a valid Australian credit licence. MiFinance contacts responsible lenders when you’re applying for a loan. Get a personal loan today!

Get a personal loan with bad credit history

With MiFinance, all you have to do is follow three simple steps to acquire the unsecured personal loan amount you require.

Apply online

You can borrow money from our safe, secure, and free online application after filling out the loan calculator at the top of the page. Simply provide your personal information, bank account information, and proof of regular income, and the loan provider will process your application quickly, easily, and securely. Hit submit when you’re finished!

We start off

We’ll begin processing your loan application as soon as we receive it to see if we can provide you with the loan you require at the highest competitive rates to ease your financial situation. If we can’t, we’ll assist you in finding a third party lender who can help you with the proper cash advance.

Meet with payday lenders

We’ll let you know if MiFinance is the perfect lender for you as soon as we’ve processed your unsecured personal loan application, and it’ll only be a matter of time before the loan amount is in your account. Complete your application, receive approval the same day, and receive the loan amount you require within 24 hours.

Drawbacks of getting a bad credit loan

Loans for people with bad credit are loans that are given to those who have negative credit. Because lenders take on additional risk when lending to people with bad credit, they often compensate by changing the terms and conditions of bad credit personal loans, as seen below.

  • Frequently offered at higher interest rates.
  • Sometimes only available as secured loans, requiring collateral.
  • Loan repayments or loan terms for these loans may be short.

Cash loan amounts online and on time

Whatever your financial situation needs are, MiFinance can assist you in obtaining short-term cash loans quickly. Simply fill out our online application, and we’ll help you get a loan ranging from $500 to $4,600. If you’re authorised, we’ll deposit the funds into your account as soon as possible, and if we can’t, we’ll find someone who can.

We guarantee to provide bad credit loans without doing thorough credit checks because we’re on a mission to give everyone a fair go, whatever their credit score. Contact us today if you have a poor credit history, and let us help you out with the proper credit contract!


What is the maximum loan amount for an online cash loan?

MiFinance has access to financing resources that can help you get the most out of your personal loan at the best possible rate. We can help you get fast cash up to $5000 with our loan programmes. Mid-term loans are available in amounts ranging from $2000-$4600.

Long-term loans are available in amounts ranging from $5000 to $100,000. This may or may not be accurate, depending on where you live. Our knowledgeable staff will work with you to obtain the loan amount you require and assist you in developing a personalised repayment plan that best suits your needs.

What is the procedure for receiving my loan?

Once you’ve been authorised, your MiFinance bad credit loan will be transferred directly to your bank account. If we refer you to other lenders, cash will be transmitted following their procedures. You will never have to worry about loan approval with MiFinance.

To increase your chances of loan approval, stick to the following checklist-

You are a minimum of 18 years old, bank statements for the past 3 months, resident of Australia, valid phone number and email address. Apply for a personal cash loan today!

What happens if I don’t pay back the loan on time?

If you cannot repay on time, please notify us as soon as possible so that we can postpone or amend the loan term to accommodate you. The charge for agreeing to a request to reduce a payment amount is $20. The cost for missing or dishonouring a payback is $30.

We don’t impose a fee if you’re behind on your loan repayments. If we cannot collect a debt after 60 days, we may refer it to an outside collection agency, and you may have a default posted on your credit file, which can affect your credit history for up to 5 years. So, if you’re having problems securing finance, it’s better to contact us right away to work something out together.