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Rapid Finance Bad Credit Loans

With Rapid Finance, you can apply for a wide variety of loans even with bad credit. Costs will vary according to individual applications and the type of loan.

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Elizabeth Barry

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GoRapid specialises in loans for customers with a bad credit history, and who are unable to get loans elsewhere. These loans include car loans, personal loans, bike loans, boat loans, equipment loans and more. While the cost will vary based on the applicant and the type of loan you apply for, loan terms are between 1 to 7 years. Repayments are flexible, allowing you to make weekly, fortnightly or monthly repayments. If you have security to offer, you may get better terms.

Compare Other Bad Credit Loans

1 - 4 of 4
Updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
Sunshine Short Term Loans
$3,000
12-20 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $3,000 that you repay over 12-20 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
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Fundo Small Loan
Fundo Small Loan
$2,000
13 to 26 weeks
Same day - conditions apply
$20
20% of loan amount + 4% of loan amount each month
$396
Borrow up to $2,000 and pay it off over 20 weeks. Same day approval for eligible borrowers.
Go to site
Fair Go Finance Small Loan
Fair Go Finance Small Loan
$2,000
3 to 12 months
24 to 48 hours
$35
Establishment Fee of $60 – $400
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
Go to site
Safe Financial Small Loan ($500 to $2000)
Safe Financial Small Loan ($500 to $2000)
$2,000
13 to 50 weeks
Same day - conditions apply
$35
20% establishment fee + 4% monthly.
$396
Borrow from $500 to $2,000 with same-day funding and no early repayment fees.
Go to site
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Types of Rapid Finance loans

GoRapid provides a wide variety of bad credit loans. Depending on what you're looking to finance, you might want to consider applying for their:

  • Bad Credit Car Loans. If you're looking for finance for a vehicle but have bad credit, you can apply for one of these loans. Enjoy a free finance assessment and loan options such as chattel mortgages novated leases, consumer car loans and commercial hire purchases.
  • Bad Credit Home Loans. Home loans for those with bad credit can be accessed through Rapid Finance. First home buyer, refinance, investment and commercial are available.
  • Bad Credit Personal Loans. Aren't looking to purchase an asset with your loan? Personal loans for bad credit applicants are also on offer. There are no penalties for extra repayments with these loans, helping you to save on interest if you're able to repay your loan early.
  • Bad Credit Leisure Loans. Finance for bikes, boats, jet skis and caravans can be found under the tailored 'leisure loan' umbrella. As with most Rapid Finance loans, bad credit borrowers are considered.
  • Bad Credit Equipment Loans. Applicants, including those with less-than-perfect credit, can apply for finance for trucks, 'yellow goods' and other equipment, which can help your business get the tools it needs to keep going.

Rapid Finance Bad Credit Personal Loan

Rapid Finance Bad Credit Car Loan

The features you can expect when you borrow

  • Bad credit considered. One of the biggest stumbling blocks in getting a loan is having a negative mark on your credit file. This can make it difficult to be approved for loans from a vast majority of lenders. However, Rapid Finance will look at your current financial circumstances while considering you for a loan, looking beyond any bad credit you might have run into.
  • Wide variety of loans. They provide loans for different purposes, including to finance a boat or a vehicle, to buy a home, a caravan or even a bike. This essentially makes them a one stop shop for most bad credit financing requirements.
  • Repayments. You'll have between one and seven years to repay your loan, and you'll be given a rate based on your application. You can make weekly, fortnightly or monthly repayments.
  • Fee structure. The fees for loans is based on individual circumstances. This allows you to get loans for attractive terms if you can meet the requirements, such as if you have a property in your name or if you can provide any other security.
  • Free assessment. The preliminary assessment is free of charge. A quote is provided after the assessment if it is found that financial assistance can be provided. The services up until this point are provided without any cost attached to them.

What you'll pay when you take out a loan

Fee and charges vary according to individual applications and the type of loan taken out. The initial assessment of the application is done free of charge. After a quote is provided, there might be certain fees charged depending on the loan. If a valuation of the secured property is required, the costs attached to it may be included in the fees.

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How to apply for a loan from Rapid Finance

If you would like to apply for a loan, you can start filling the application form by clicking ‘Go To Site’ on this page. This will redirect you to an online application which needs to be filled. Keep in mind you need to be over the age of 18 to apply. Have the following details on hand to submit your application:

  • Personal details. These include your name, date of birth, contact number and driver's licence number.
  • Financial details. If you've been bankrupt or in a Part 9 Debt Agreement, you'll need to list your status. You also need to list any property you own outright or under a mortgage, as well as any defaults you have.
  • Employment details. Your current work status, how long you've been at your current and previous job and your net pay after tax will need to be listed.

GoRapid can assist you in getting your dream car or finding the ideal loan if you have bad credit. They provide a quick and competitive service that can be very useful for customers looking for immediate financial assistance.

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Frequently asked questions

I have been denied a loan by a couple of lenders. Will I be successful in getting a loan from Rapid Finance?

Every organisation has different credit criteria for various loans. Rapid Finance specialises in bad credit loans and instead of looking at prior results, they assess all applications on their individual merit. Whether or not you are approved will depend on your financial situation and your ability to meet your loan repayments.

Are there any charges for the services provided by Rapid Finance?

Rapid Finance provides their services free of charge until the point of providing a quote. The initial assessments for most of the loans do not require any cost or charges from the applicants. Only after a loan is accepted by you do the fees for that respective loan need to be paid.

What interest rate will apply to my loan?

Rapid Finance offers various rates. The actual interest rate that will apply to your loan will depend on your individual financial circumstances and the information you supply in your application.

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Lead Editor

Elizabeth Barry was the lead editor for Finder. She has over 10 years' experience writing about a range of topics with a focus on personal finance. You’ll find her writing and commentary in a range of publications and media including Seven News, the ABC, MSN, the Irish Times and Singapore Business Review. See full bio

Elizabeth's expertise
Elizabeth has written 219 Finder guides across topics including:
  • Banking
  • Personal finance
  • Investing
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31 Responses

    Default Gravatar
    HopeApril 10, 2016

    Hi
    I am working as a full time casual i earn 1400 a fortnight i am paying a debt 9 agreement at the moment, my partner earns 700 a week he has a couple defaults due to not being in country for couple months. We have 2 children and our car has died we are looking for a car loan can you advise us of any loans or help that we can get?

      AvatarFinder
      ElizabethApril 11, 2016Finder

      Hi Hope,

      Rapid Finance offers car loans to those who have bad credit, so you may be eligible for a loan. It offers a range of tailored financial loans that might be an option for you. You can apply by visiting the website directly or calling over the phone.

      Hope this has helped,

      Elizabeth

    Default Gravatar
    ChloeMarch 28, 2016

    Hi wondering if you can help I currently am employed, contract for 2 years and receive family tax benefits but I’m a casual! I’m trying to get a car loan and who I just tried with wouldn’t lend due to my casual status even though I’m contracted for two years and receive the Ftb can you help me?

      AvatarFinder
      ElizabethMarch 29, 2016Finder

      Hi Chloe,

      You’ve come through to finder.com.au, a financial comparison service and not Rapid Finance. Rapid Finance consider applicants in a variety of situations so you may be eligible for a loan with them, you can head over to their website and fill out a form to speak to an advisor if you are interested.

      Hope this has helped.

      Thanks,

      Elizabeth

    Default Gravatar
    faithFebruary 25, 2016

    hello.am 22 yrs old and want to start a small business am currently unemployed ..can you help?

      AvatarFinder
      ElizabethFebruary 25, 2016Finder

      Hi Faith,

      Part of Rapid Finance’s minimum criteria is that you have a current regular income, which may make you ineligible, and they also don’t offer startup business financing. You can compare available business loans that would best suit your business loan needs.

      Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for the loan.

      I hope this will help,

      Elizabeth

    Default Gravatar
    ShaneJanuary 22, 2016

    Don’t have any security towards a personal loans also.Is there any other lenders out there ?

    Default Gravatar
    ShaneJanuary 15, 2016

    Need a personal loan up to $10000.I have been discharged from bankruptcy and have a permanent job.Can you help and what are the interest rates?

      Default Gravatar
      ShaneJanuary 22, 2016

      Have no security to put towards a personal loan are there any lenders that can help ? I am a ex bankruptcy applicant.

      AvatarFinder
      ElizabethJanuary 25, 2016Finder

      Hi Shane and Katrina,

      Rapid Finance consider applicants who have been discharged from bankruptcy for a loan, so you may be eligible to apply. You can visit the website directly to find more information. You can also read our guide on applying for a loan as a discharged bankrupt to select available lenders and to know their eligibility requirements.

      Please ensure to read through the relevant product disclosure statement and terms and conditions of the loan to ensure that you got everything covered before you apply.

      I hope this will help.

      Thanks,

      Elizabeth

      AvatarFinder
      ElizabethJanuary 18, 2016Finder

      Hi Shane and Katrina,

      Rapid Finance offered tailored loan solutions so interest rates differ, but they are able to help discharged bankrupts. If you’d like to apply for a loan you can do so directly on its website.

      I hope this has helped.

      Thanks,

      Elizabeth

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