Centrelink Approved Loans

If your main source of income is Centrelink, it can be difficult to qualify for general loans from banks or credit unions if you are in need of cash. When unexpected financial emergencies pop up, many low income earners and those collecting Centrelink benefits turn to quick cash loans through payday type lenders – and this can put them in an even worst situation.

The decision to use these types of expensive lenders is due to the lack of information on alternative Centrelink approved loans or lenders. There are in fact numerous Centrelink financial assistance options beyond general benefits that are provided by non-profits and different bank partnerships that provide low to no interest loans for important household living needs.

Below is a list of Centrelink approved loans and other options to help those get the financial assistance or money they need to deal with unexpected financial expenses.

Cash without taking on a loan and debt
An Advanced Payment through Centrelink is an excellent option to access money to help with cash flow issues. The primary focus of this advance is to bridge the gap of financial shortfalls or to help with financial emergencies. An Advanced Payment is simply getting a small advance on your future benefit payment.

To qualify you will need to be already receiving government payments usually for at least three months and must be receiving payments from one of the eligible payment programs such as disability, parenting payment, age pension and number of other income support payments.

 
Centrelink Loans
Lenders and programs that provide approved loans for those on Centrelink generally only provide loans for household living needs and not for personal entertainment such as trips or holiday. Loan amounts vary from $100 to $3000 and can be issued as quick as 48 hours.

Benefits of these loans include:

• Quick approval
• Low to no interest
• Little or No fees
• Favourable repayment period
• Flexible qualification criteria

Review different Centrelink approved loans here

Financial Hardship
If you are dealing with severe financial issues, a loan may not be the right solution – especially if you are borrowing to pay utility bills or for food. In these types of situations there are better assistance programs that work as an ongoing solution and can help you take control of your finance. Learn about different financial hardship options here.

More Financial Help from Centrelink
If your circumstances have change from when you originally started collecting benefits from Centrelink, you may be entitled to more financial assistance. It only takes a few minutes to use a Centrelink calculator to see what you may quality for – A small increase in your benefits can make a big difference to your monthly budget.

 
For professional assistance to help completely change ongoing financial issues, there are numerous free financial counsellors that can provide advice on how to take control of your finances and get ahead.

Counsellors are able to assist in budget counselling, debt and bills help, bankruptcy, housing assistance, government benefit entitlements and more. In many cases a bit of professional guidance can go a long way in turning your finances around.