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.
Now, Good Shepherd Microfinance has made a bold move into online lending with the support of NAB to launch Speckle – a fast online cash-loan which offers a better alternative for people seeking small cash loans under $2,000. Speckle is around half the cost of other loans and is the first of its kind in Australia. 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:
Speckle was created by Good Shepherd Microfinance and supported by National Australia Bank (NAB). Speckle loans are issued by Good Shepherd Microfinance.
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.
Our General Manager of Retail & Online, Corinne Proske, shares her own experience with financial abuse.
National not-for-profit, Good Shepherd Microfinance, has made a bold move into online lending with the support of NAB to launch Speckle - a fast online cash-loan which offers a better alternative for people seeking small cash loans under $2,000.
The LaunchME program supports people start their own business, gain employment or embark on further study. There are four programs: LaunchME for Young Carers, LaunchME South Australia, LaunchME Dandenong and LaunchME Morwell.
No interest loans up to $1,500 for essentials goods and services such as white-goods, furniture, and education expenses.
Low interest loans of between $800 - $3,000 with no fees and affordable repayments offered in partnership with NAB.
Retail stores offering safe, fair and affordable financial services at prominent 'high street' locations in Victoria, South Australia and Queensland.
Online learning, face-to-face training and webinars that maximise the skills and resources of microfinance workers across Australia.
A buying service which leverages the purchasing power of our national network to access the best prices, quality products and excellent customer service for clients.
A matched savings plan of up to $500 offered to people who have successfully repaid a NILS or StepUP loan, offered in partnership with NAB.
A national program providing organisations with a framework to support the development of a series of practical actions they can take to improve financial inclusion for employees, customers and communities.
Affordable, simple and effective insurance policies for people on low incomes, designed in partnership with some of Australia's leading insurers.