1. Application

Apply online for a personal loan using our simple online form.

2. Credit Proposal

If you satisfy our criteria, we will get in contact with you, usually within 10 minutes. Over 97% of applicants are pre-approved

3. Find a Guarantor

Find a Buddy who will be your guarantor. Your guarantor must be an Australian homeowner (they can have a mortgage).

4. Guarantor Check

We will speak with your guarantor to ensure they understand their obligations as a guarantor.

5. Approval and funds transfer

Once we have confirmed these details, your loan will be approved and funds will be transferred.


[accordian class=”mcToggle2″ id=””] [toggle title=”Who are Buddy Loans?”]Buddy Loans are a 100% Australian owned company operating with the belief that every Aussie needs a fair go, irrespective of their credit past. We have seen too many people who made one small mistake when they were younger, and years later they are still being denied credit because of that one tiny mistake. So we decided to do something about it and help out.[/toggle] [toggle title=”How does it work?”]It’s simple. We believe the best way to determine if someone will pay back a loan is by asking the people that actually know you. If your buddy believes you can pay back the loan, then so do we!

Before we pay out any loan we have a good old fashioned chat over the phone with both you and your buddy. We base our decisions on simple common sense, not complex computer algorithms which so often make rejection decisions even if the applicant is able to meet the repayments.

You can watch our video, scroll up, or visit our About page for further details.[/toggle] [toggle title=”Who can be my buddy?”]Anyone can be your buddy. This person will act as your guarantor, and can be your parents, siblings, friends, colleagues – anyone. They just need to be an Australian home owner (they can have a mortgage).[/toggle] [toggle title=”Can my buddy have a mortgage?”]Yes, your buddy can have a mortgage on their home.[/toggle] [toggle title=”Can this help rebuild my credit score?”]Yes, this can help rebuild your credit score, provided you keep your promise of paying back the repayments. On the contrary, if you fail to make your repayments as agreed, this can be detrimental to your credit score. We really do not want this to happen, which is why we assess each loan application individually, and try to make sure that we only lend an amount that you can afford to repay.[/toggle] [toggle title=”How much can I borrow?”]You can borrow up to $5,000.[/toggle] [toggle title=”How long can I borrow for?”]You can borrow any time from 1 month to 12 months.[/toggle] [toggle title=”How much does it cost?”]Please see our slider on the right hand side of the application page and input your specific loan details.
For loans up to $2,000 for up to 1 year, there is a 20% establishment fee and 4% per month charge.
For loans up to $2,000 for 1 year to 2 years, there is a 4% per month charge.
For loans from $2,000 to $5,000 for up to 2 years, there is a $400 establishment fee and 4% per month charge.
[/toggle] [toggle title=”Are there any hidden fees or charges?”]No. What you see is what you get with Buddy Loans.[/toggle] [toggle title=”Can I repay early?”]Yes, you can repay early with no additional fees or charges.[/toggle] [toggle title=”How can I contact you?”]You can leave a message on our Contact us form, email us at info@buddyloans.com.au or call us on 1300 883 525.[/toggle] [toggle title=”Do you have any suggestions to help save money?”]Yes. We are here to help, and have provided some very useful money saving tips. We have also compiled a collection of very interesting articles appearing in the media recently which you can see in our blog.[/toggle] [toggle title=”What happens if I can’t make my repayments?”]If your loan does fall into arrears, we will SMS you a reminder about your obligations. If we have been unsuccessful in collecting payment, we will phone and email you to see what has happened. We want to ensure any problems are dealt with quickly so that they do not cause a spiral and create a larger problem. Since our loans are backed by a guarantor, if the borrower is unable to make the repayment, then the guarantor will be required to step in and make the payment. Only in exceptionally rare circumstances and as a last resort where we are unable to come to an arrangement with either the borrower or the guarantor, we will pass the debt onto a professional debt collection agency.[/toggle] [toggle title=”What happens if I have a dispute?”]In the unlikely event you are dissatisfied and have a dispute, we invite you to contact our dispute resolutions team at disputes@buddyloans.com.au. If your dispute is not satisfactorily resolved, you can refer your dispute to COSL, who provide external dispute resolutions services.[/toggle] [toggle title=”What’s the catch?”]There is no catch. At Buddy Loans, we are all about honesty and transparency. So why delay, Apply now![/toggle] [/accordian]