Who Are Champion Loans?
Champion Loans is a financial institution that offers loans of up to $15,000, catering to a variety of needs. From covering bills, bond and rent payments, car repairs, medical and veterinary expenses, to purchasing household items or funding special events, Champion Loans provides flexible financial solutions for its clients. The company accepts clients with poor or bad credit, and Centrelink pensioners are also welcome. With a focus on fast loan approvals, Champion Loans ensures a simple and straightforward online application process. Loan applications can be made either online or in-office at their Maroochydore location. The company prides itself on offering a transparent, friendly, and personal loan service. Based on the Sunshine Coast, Champion Loans extends its personal and business loan services to clients across Australia.
What Types of Loans Does Champion Loans Offer?
Champion Loans provides a variety of loan options to meet the diverse needs of its clients:
Cash Loans
Quick access to cash for personal or emergency expenses.
Vehicle Loans
Financial assistance for purchasing or repairing vehicles.
Personal Loans
Flexible loans tailored to individual financial needs, whether for medical bills, household items, or special events.
Business Loans
Support for businesses requiring funding for growth, operational costs, or investments.
With these diverse loan offerings, Champion Loans ensures that individuals and businesses alike have access to the funds they need, whenever they need them.
What Are the Main Loan Characteristics?
Champion Loans offers flexible repayment terms and competitive interest rates. The minimum repayment period is 5 months, and the maximum is 5 years , allowing borrowers to choose a schedule that suits their financial situation.
The loans come with a nominal annual percentage rate (APR) of interest, as defined by S.153 of the National Credit Code. The interest rate ranges from a minimum of 12.00% to a maximum of 48.00%, depending on the specific loan agreement.
For example, a principal loan of $2,500 with an establishment fee of $400, charged at an interest rate of 25% over two years , would result in a total cost of $3,657, with a comparison rate of 37.86%. However, it is important to note that this comparison rate applies only to the specific example provided and may not account for all fees and charges. Different loan terms, fees, or amounts could result in a different comparison rate.
Additionally, Champion Loans does not offer $2,500 personal loans over a two-year period .
How to Qualify for a Loan
To qualify for a loan with Champion Loans, applicants must meet the following criteria:
- Be over 18 years of age
- Be an Australian Resident
- Have a regular source of income, such as wages or a Centrelink pension
Please note that if your only source of income is Jobseeker, Youth Allowance, or Austudy, Champion Loans will be unable to assist with your loan application.
How to Apply for a Loan
Applying for a loan with Champion Loans is quick and easy. Follow these simple steps:
Complete the Application Form
Fill out our application form in just a few minutes.
Submit Supporting Documents
We’ll send you a user-friendly link to upload your supporting documents.
Application Assessment
We carefully assess your application.
Approval Time
Approval times can vary, but we typically respond within 2 – 8 business hours.
Receive Funds
If your application is approved, you’ll electronically sign a contract, and the funds will be transferred directly to your bank account.
Please note, if your only income is Newstart, Youth Allowance, or Austudy, we unfortunately cannot assist with your loan application.
Contact Information
Champion Loans can be reached through the following contact details:
Mailing Address
PO Box 1101
65 Aerodrome Road
Maroochydore QLD 4558Phone
07 5452 7400
Fax
07 5479 2231
Email
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