3 month plan

How to get your next loan Approved...

Read and follow the below steps to improve your chances to be APPROVED

If you are having difficulty obtaining a loan then follow our 5-step process (listed below) which might help you to improve your borrowing capabilities so the next time you apply, your loan is APPROVED!

Step 1

Find out why you were declined?

Not all finance companies will tell you why you were declined, in fact many will simply say "you didn't meet our criteria".

Here at Ume Loans we will always be honest and transparent with you and explain to you why we were unable to approve you. 

If you know why you were declined in the past you can repair your financial situation so you can be APPROVED in the future.

Step 2

Bank Statement Conduct

Lenders have a legal obligation to lend money responsibly. This means that if it looks like you can't afford another loan then they can't legally lend it to you. Lenders want to understand that you can manage your money effectively. One of the ways a lender will assess your financial circumstances is to review the way you manage your bank account. Usually, a lender will review the last 3 months of your bank statements.

Some things that might give the lender suspicion that you cannot afford the loan are:

  • Overdrawing your bank account regularly
  • Missing or bouncing your payments on existing debts
  • Withdrawing all of your income in cash immediately after it is deposited
  • Large quantity of cash transactions in and out
  • Excessive transactions at hotels/clubs or pubs
  • Excessive gambling

So, knowing this, check your last 3 bank statements and start to manage your bank account to minimise these in your next 3 months bank statements.

Step 3

Credit File Conduct

At Ume Loans we love to give people the financial second chance they need, so having some small defaults on your credit file is not always going to lead to a decline. But other lenders are not the same.

If you know you might have some defaults or bad credit then don't waste your time applying for a loan with lenders who won't take the time to understand what happened in your life at that time. We understand that bad things can happen to good people, so our team are trained to ask questions and understand your situation before making a decision based just on your credit file.
It's not always possible to have defaults removed from your credit file but what you can influence is how many times you apply for loans. In fact, this is one critical factor that many lenders look at. The more times you apply for loans the lower your credit score will go, so only apply if you really need the loan and if you are confident you will be approved.

Step 4

Number of debts

It's simple really, the more debts you have the more complicated or difficult it can become to manage your finance and bank statements. If you have a number of smaller debts like Afterpay, laybuys, payday loans etc then we would recommend to payout and close the smaller ones to minimise the number of debts you are managing to pay off, making your financial situation simpler.

Step 5

Talk to us

If you are unsure of exactly what you need to focus on to improve your financial situation so you can be APPROVED next time you apply for a loan, please reach out to us and we will discuss your situation with you and help you understand the best ways to improve.

At Ume Loans, we don't have secrets about how we lend and if we can help you improve your financial situation so that we can lend to you in the future, that's a win/win for us both.

Get started now, it only takes 2 minutes

Get started now, it only takes 2 minutes

Why Choose Us?

Experience

11+ Years

Experience in Alternate
Lending


Understand

We Understand

we provide good people
with a second chance


Our Team

Our Team

Our team is passionate
about helping people


Excellent

Simple Process

Apply online in
minutes


Some of Our FAQs

Below we've pulled together answers to some of the most popular questions about Ume Loans.
If there's a question we've left unanswered or you can't find what you're looking for, get in touch with us.

It’s Simple and will take less than 2 minutes to get started.
You can Click the APPLY NOW button at the top right of our website or call us during office hours.
We have put the links here to make it even easier for anyone reading this FAQ



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Weekdays 9am - 5pm AEST

Relax, We’ve got this!

  • We will phone you to fully understand your loan needs
  • We will assess your loan for fast pre-approval
  • Once pre-approved, your loan settlement can happen the same day

As part of our process, we make sure that we protect your credit file and credit score. To get your second chance loan with us, It's important that you don't apply for any other loans right now. If you make other loan applications elsewhere, this will reduce your credit rating and could hurt your chances of obtaining the best loan approval.

jetski-loans-quote-steps
jetski-loans-quote-steps




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Weekdays 9am - 5pm AEST

We have a fast online and phone call process. Using the latest technologies to help you, we can have a loan pre-approval in place within 24 hours.


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Weekdays 9am - 5pm AEST

No. We don’t perform credit checks on every application.

Having said that, remember, we are Bad Credit Experts and we love giving people a financial Second Chance. So, even if there is something nasty on your credit file that alone won’t necessarily stop you getting a loan with us as we will take the time to understand and assess your circumstances now.



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Weekdays 9am - 5pm AEST

As your Lender of choice, we want to ensure that you get the loan approval that you want. We take the time to fully understand your situation and put together the best loan package we can for your individual circumstances. As we give many customers loans who do not qualify for a traditional bank loan, we do charge higher Interest Rates. Please read our Interest Rate Statement below.



If you're not happy with what we are able to offer you, you can simply let us know that you don't wish to proceed with the loan offer and it has cost you nothing.



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Weekdays 9am - 5pm AEST

Yes!

Even with some previous or current credit defaults you may still be eligible for a loan with Ume Loans. Our Lending Specialists are experts in bad credit loans and we take the time to personally understand and assess your financial situation to make sure any loan we offer you is suitable.



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The choice of car is totally up to you. We will finance cars purchased from Car Dealers or Private Sale. Ume Loans also offers a complimentary vehicle finding service with one of our independent vehicle broking services. You can simply let them know what type of vehicle you would like to purchase, and their role is to find you the best vehicle that suits your needs. They will even negotiate the best deal on your behalf to ensure that you don’t pay too much.



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Yes. If you are buying a car, we would always recommend an appropriate car insurance policy to protect you in the case of an accident or theft of your car. As an authorised agent for Suncorp Car Insurance, we can assist with this and include the insurance in the loan. Alternatively, you can choose any Insurance company, just provide us with a copy of the insurance policy noting Ume Loans as the financier.



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No

We encourage our clients to pay extra and pay the loan off early.



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No

Ume Loans company policy is that someone on the loan must be working.

Your weekly or fortnightly repayments will be direct debited out of your nominated bank account on the days that coincide with your income payments.



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Weekdays 9am - 5pm AEST

No, our minimum loan is $5000.

Yes

On most occasions we simply verify your income from your last 3 months bank statements



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Weekdays 9am - 5pm AEST

After applying online, you will need to make yourself available to talk to one of our Lending Specialists for around 20 minutes. During this call we will be asking lots of questions to better understand your current financial circumstances so we can offer you the most suitable loan. We will also need supporting documents such as:

  • Latest payslip (or proof of income)
  • Selfie ID (selfie photo of yourself holding up your drivers’ licence, front and back and Medicare card)
  • Latest 3 months bank statements (using our secure, electronic link)


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NO

We use a secure, electronic link to obtain your last 3 months bank statements. This is by far the fastest way to get your application assessed ready for approval.



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Its not a NO, it’s a not now

If Ume Loans is unable to approve your application, we will explain to you why and what you can do to improve your financial situation so that you may be approved in the future. In fact, we have put together an article that details the 5 Steps you should take to improve your chances of getting a loan.




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Weekdays 9am - 5pm AEST

Ume Loans have a thorough dispute resolution process which is detailed in our complaints process below.

If you are unhappy about anything with your dealings with Ume Loans our Managing Director Dan Fox wants to know about it. Please reach out to Dan on 07 5443 3863 and let him know what you are unhappy about.


We are available for your call between 9:00am and 5pm Monday to Friday. Simply call us on 07 5443 3863

Ume loans finance all types of vehicles, from new and used motor vehicles to leisure vehicles like caravans, boats and jetski's. Below are just some of the product types we finance.


Most of our customers are simply unable to obtain a low interest rate loan due to something unfortunate in their individual circumstances meaning they can’t meet the terms and conditions required for a traditional loan. It could be bad credit from a business or marriage failure, it could be loss of employment or a health issue that caused a financial problem in the past. At Ume Loans we take the time to assess your current circumstances and just because you don’t qualify for a low interest rate bank loan doesn’t mean you can’t get a loan with us. But, please understand that giving people a financial second chance means we take more customer risk and therefore need to charge higher interest rates. This disclaimer explains this to you.

As you are contemplating entering into a loan contract with Ume Loans, we ask that you read the following very carefully. Should you sign a credit contract with Ume Loans after reading this Statement, Ume Loans will presume that you have read every word, understand the meaning and accept the following:

  1. Ume Loans was established as a lender to help good people who find it challenging to obtain loans from traditional banks and finance companies because of their unique circumstances and as such Ume Loans charges higher interest rates due to this higher customer risk.
  2. Ume Loans operates in a very competitive environment, where numerous lenders offer various loans that are different in their approval criteria, terms and conditions, including interest rates charged.
  3. It is possible that some, but not all, of these various loans may be available to you.
  4. For that reason, Ume Loans encourages you to compare what our competitors are prepared to offer you, with our loan terms and conditions.
  5. You are encouraged to take your time making these comparisons and Ume Loans will never pressure you to rush into signing a loan contract with the company.
  6. While we would like your business and make every reasonable effort to offer terms and conditions that are competitive, including interest rates, we may not offer some terms and conditions that at least some of our competitors offer, or the lowest interest rate in the market at the time.
  7. Our terms and conditions, including interest rates charged, are determined according to company policy, company costs, company customer service levels, turnover, consumer risk analysis and what is legally required by law.
  8. We will always attempt to be competitive, we will always attempt to offer fair terms and conditions, but we may not be offering the cheapest interest rate available at any particular time.
  9. Finally, please be aware that a competitor may offer a different term or condition more advantageous to you, or a lower interest rate, but before you attempt the comparison, enquire whether or not that competitor would accept you as a borrower of that particular loan. Your unique circumstances may prevent you from being able to qualify for these other competitor loans. Interest rates are often, at least in part, calculated according to the assessed risk of lending to a particular consumer or class of consumers, and often only certain consumers will be considered by the competitor as suitable for that particular loan. You personally may not meet their lending criteria, or not be considered in that class of consumer to which they are prepared to lend.

Thank you for reading this important Statement.

If you have any questions and/or require further explanation, please ask one of the Ume Loans team.


Ume Loans Pty Ltd ABN 25 138 637 064. Australian Credit Licence Number 383502.