Virtually every country in the world is struggling financially these days. This directly affects an individual’s finances to a point where they need to look for temporary external sources to maintain their lifestyles. This is why the majority of such individuals resort to cash advances and loan products to meet their day-to-day expenses.
People on CentreLink, unfortunately, have a lot of difficulty in getting any kind of loan approved, regardless of how badly they need it.
However, this does not mean that all hope is lost for people on CentreLink. There are ways and means through which they can get external financial support with a number of loan providers that hand out loans for unemployed individuals.
Options for Cash Loans for People on CentreLink
If you are an individual on CentreLink who is struggling with your daily financial requirements, then there are options for cash loans available for you. Here is a list of some options for cash loans for people on CentreLink that may be useful to you.
Cash Advances From Commercial Providers
The most obvious option for cash loans on CentreLink is to look for the same from the countless commercial providers vying for business online. These options usually involve high interest rates but are also the most accessible and easy to get.
One of the benefits of such cash advances is that they rarely ever influence or are influenced by an individual’s credit history. Commercial providers of cash loans for people on CentreLink tend to not pay much attention to the requester’s credit score. Moreover, taking out a cash advance also does not reflect on the credit history of an individual.
Non-Profit Micro Loans
Another method of getting cash loans on CentreLink is to approach non-profit organisations that specialise in providing micro loans to such individuals. These types of loans are very handy for short term emergencies as they range from anything between $100 and $5,000.
StepUp Low Interest Loans
StepUp low interest loans are a result of an initiative between Good Shepherd Microfinance and National Australia Bank. These are essentially low interest loans for people with low incomes, which means that this is a real and viable option for cash loans for people on CentreLink.
Any individual receiving Family Tax Benefit or holding a CentreLink concession card is eligible to get these loans. It is also a prerequisite for the applicant to have lived at his current residence for more than three months. These loans range from $800 to $3,000.
National Australia Bank is also behind the initiative that made Fair Loans possible. These are loans that are suitable for those individuals who are unable to qualify for conventional loans with banks.
These are also fast processing loans that can be approved within a period of two days. An individual can get a sum between $1,000 and $3,000 with the help of this option for cash loans on CentreLink.
CentreLink Concession Cards
Cash loans for people on CentreLink are also possible with the help of CentreLink concession cards. This method, which can be used to get advances on the monthly benefit already being received, is something that is not commonly known. The loans taken out with the help of CentreLink concession cards are usually adjusted in future monthly payments. Effectively, their repayment is also simple and hassle free.
As you can see, there are a range of options whereby unemployed individuals that are in need of a short term loan can seek out. As always, take the issue very seriously.