There are millions of people in Australia who find it hard to access credit. Together with our partner, NAB, we have spent considerable time understanding this issue through research and by listening to the stories of real people. The more we learned about this problem, the more we realised that people need better options when it comes to small loans. And our experience shows that people can and do repay debt despite being on a tight budget.

We’re currently trialling a new product in Victoria & Tasmania, Speckle – a fast online small loan with nothing to hide that is around half the cost of other loans and the first of its kind in Australia. Speckle offers small loans from $200 to $2,000 with no hidden fees or charges. Repayment options range from three months to one year and are flexible, so you can pay early and as often as you like with no extra fees to help you stay in control. Most loans are approved within two hours, so you can have the money in your bank account as soon as possible – usually within two business days.

Speckle is run on a not-for-profit basis, which means all fees and charges go back into keeping costs as low as possible so more people can borrow better. As a responsible lender, we’ll only lend to you if we believe you can reasonably afford to repay your loan. And we’re totally upfront about how exactly much your loan will cost. If a loan isn’t the most suitable option, we help direct you to other alternatives you can explore.

To be eligible for a Speckle loan, you need a minimum annual income of $30,000 (excluding government benefits) before tax to apply. Also, no more than 50% of your total income can come from government benefits. To apply online, you will also need:

  • Electronic proof of identification details i.e. Medicare card, Driver’s license, Passport etc.
  • At least 90 days of bank statements.  You can supply these electronically or manually and you’ll find instructions on how to supply these in the application form.
  • All supporting documents supplied must be in your personal name. We do not process to business or company accounts.

Speckle was created by Good Shepherd Microfinance and supported by National Australia Bank (NAB). Speckle loans are issued by Good Shepherd Microfinance.

Latest News from Speckle

3 November 2017 Media Release

New low cost loan trial launched in Tasmania

People in Tasmania will be among the first in the country to trial a new low cost cash loan. Speckle provides a low cost finance alternative for people who are employed and need to access emergency cash to pay for items like car repairs, medical bills and household appliances.

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