Getting a loan when on permanent residence

[DenZel]

Hey guys

I work with a guy who has been here about 6 months or so, worked the last 3 or 4.

Already has PR and needs a loan between 5 and 10k. Now I’m pretty sure banks won’t give out loans until you have been in Aus for 2 years??

Any other options?

G.E money?, Cash converters?, Financial Broker?

Or will they just have the 2 year rule as well?

What % rate would he would be looking at?

Any info would be great.

Cheers guys.

[mys1]

Car loan?? PL? House?

for that amount might as well get a credit card.

For a bit more most finance companys will finance provideing proof of employment etc. Only way to do it is to apply and have a reason.

Hell I can finance people on 457 working Visas for cars over 3 years why not a resident with the right credentials

[DenZel]

It’s going back to his country as he has a business there.

[mys1]

PL then from bank for that amount.

Basically if he has assets that amount to that much then no worries at all.

if not credit card and withdraw at cash rate wich will be a bit expensive....

[DenZel]

They don’t have a minimum of how long they need to be in Aus before a loan??

[mys1]

No not nescesarilly, financier will just come up with more conditions.

Its a case by case basis normally.

[DenZel]

alright, ill let him know

cheers.