How It Works
Four steps from choosing your loan to receiving the money in your account.
- 1
Select A Loan Offer
Choose the type of loan you want. Each loan page shows the maximum amount, tenure, application fees and the security we accept.
- 2
Provide Documents
Provide documents that show your basic information and bank statements. For salary-backed loans that means a copy of your ID, an introductory letter from your employer and 3 recent pay slips; for collateral-based loans, a copy of your ID and proof of the collateral, such as a vehicle white book or title deed.
- 3
Verification
The team verifies eligibility.
Questions about your documents? Email us at [email protected].
- 4
Money Transfer
Once approved your loan is transferred to your account.
Before You Apply
Short term credit
We don't want to keep you in debt. That may sound odd coming from any lender, but LoanNow Solutions provides fast cash advances for a few weeks or months. We'll only lend you money for the term set for each loan, from one month up to 60 months, and you are always free to pay us back early with no hidden fees.
So please think very carefully before you apply, because we expect you to repay us when you promise to. If you have any doubts or are unsure you'll be able to do that comfortably, please don't apply in the first place.
Transparency
We'll always tell you upfront what the total cost of your loan will be. Please take a moment to look at our loan offers on the home page, where the terms and fees of each loan are shown so you can see the cost breakdown before you apply.
Failure to stick to your side of the deal
The only way costs will mount beyond our initial calculation is if you aren't able to make the repayment on the agreed repayment date. We will contact you on the due date specified on the loan application. Our collections team will keep trying to contact you to discuss the situation, and if your circumstances have changed significantly, they will do their best to offer a solution and come to an arrangement that helps you get back on your feet.
We don't believe in applying on-going charges, but interest and service fees will continue to mount on your balance for a period. If you don't work with us and we can't recover the money over a reasonable period, your account may be passed to an external legal collections partner, which means additional costs could be added to the amount you already owe.
Continued failure to repay a loan will also mean credit bureaus will record the outstanding debt. Records remain on file for a number of years after they are closed, whether settled by you or defaulted.
Finally, your trust rating and your next LoanNow application may be impacted, and you probably won't be able to borrow from us again.
None of these things are worth the risk, so if you have doubts about whether you'll be able to repay a loan, please don't put yourself under more financial pressure by applying.