Matt Corke

Applying for loans during financial hardships If you're a single mother in need of a loan, your options may appear limited. It may be tempting to apply for a short-term or payday loan to tide you over. You may think you have few options if you also receive payments from Centrelink. The same may apply if you have bad credit. But applying for a loan may add to your financial hardships. It may also damage your credit score. This could affect your ability to receive credit in the future.

If you have a bad credit history, you could apply for a payday loan without a credit check. These loans are more expensive and come with short repayment terms. You will have to provide your bank statements, income and employment details in the application. Are you struggling financially?

What vehicles can I finance? Most business vehicles are eligible for finance. This includes trucks (there is generally an upper limit of 4.5 - 5 tonnes), cars, utes, motorbikes and vans. The key is to know what your requirements are, the kind of vehicle you need, and whether you can afford it. For example, would a Land Rover or a ute be more suitable for the kind of business you operate? You need to use the car primarily for business purposes.