A rejection from your bank isn't the final word. Thousands of Australians with bad credit personal loans on their mind get turned away by mainstream lenders every year, not because they can't afford to repay a loan, but because their credit file doesn't fit a rigid bank template.
Yes Loans is a Perth-based finance broker, and our job is to find the lender that fits your situation. We access a panel of specialist lenders that most borrowers can't reach on their own, including lenders who work specifically with impaired credit profiles. We work harder to say yes more often.
Our panel includes lenders who work specifically with non-prime borrowers. These aren't lenders you can easily access walking into a bank branch. They assess applications differently and weigh your current circumstances more heavily.
Most people with a bad credit history apply direct to one lender, get knocked back, then try another. Each application generates a hard enquiry on your credit file. You submit one application to us instead.
Most banks apply strict credit score thresholds. Specialist lenders assess your full picture instead, including your current income, employment stability, and repayment behaviour in recent months.
Our brokers review your profile and match you to the lender on our panel most likely to say yes to your specific situation. Apply direct and nobody is arguing your case. Here it will be one of these eight who does.
A bad credit personal loan is a personal loan available to borrowers whose credit history includes defaults, missed repayments, court judgements, or a low credit score. It works like any other personal loan: you borrow a fixed amount, repay it over an agreed term in weekly, fortnightly, or monthly instalments, plus interest and fees.
The key difference is who's lending. Most banks apply strict credit score thresholds. Specialist lenders assess your full picture instead, including your current income, employment stability, and repayment behaviour in recent months.
Your credit score in Australia sits on a scale from 0 to 1,200 (Equifax). Scores below 459 are generally rated as "below average" or poor. But a number alone doesn't tell the full story. Lenders also look at:
If any of these apply to you, a specialist lender accessed through a broker is often a better path than applying direct to a bank.
Most people with a bad credit history apply direct to one lender, get knocked back, then try another. Each application generates a hard enquiry on your credit file. Enough of those in a short window and your score drops further, making the next approval even harder.
Yes Loans works differently. You submit one application. Our brokers review your profile and match you to the lender on our panel most likely to say yes to your specific situation. One enquiry. The right lender.
When you apply with Yes Loans, our brokers do the legwork. We compare options across our panel, explain the differences, and present what's available to you, with full comparison rate disclosure before you commit to anything.
Talk to a broker today.
One application reaches our full specialist panel. Your broker reviews your file, works out which lender is most likely to say yes to your situation, and tells you where you stand before anything is submitted for a formal decision.
Or call (08) 9472 3000
Search for a loan with bad credit and you will be shown two products that look alike and are not. The difference is the shape of the loan rather than the label on the advertisement.
Repaid in weeks
Repaid over an agreed term in weekly, fortnightly, or monthly instalments
We match you to responsible lenders who assess your ability to repay. If the shape of what you have been offered somewhere else does not look like the second lane above, that is worth a phone call before you sign anything.
Our panel includes lenders who work specifically with non-prime borrowers, including Pepper Money, Money3, Sovereign Credit, Latitude Financial, and Angle Finance. These aren't lenders you can easily access walking into a bank branch. They assess applications differently, weigh your current circumstances more heavily, and offer products built for borrowers who've had credit challenges.
Secured personal loans tend to come with lower interest rates because the lender holds an asset as a safety net. If you have a suitable asset and want to reduce your rate, it's worth discussing with your broker whether a secured structure makes sense for your situation. Either way, we'll help you understand what you're signing up for before you commit.
If the asset in question is a car, that has a product of its own. Our bad credit car loans page covers how a vehicle secures the loan, and this page sits under personal loans if you want the wider view.
Personal loans for bad credit aren't restricted to one purpose. Our clients use them for a wide range of needs, including:
If you're looking to consolidate existing debt, our debt consolidation loans page covers how that works in detail. For property-related projects, take a look at home improvement loans as well.
Yes Loans263 Albany Hwy, Victoria Park
A big thank you to Cooper from Yes Loans for helping me secure my loan for my new car! He was easy to communicate with, always kept me updated, and made ... Morein the last week
Thanks to Stephen, for assisting with my loan and making it possible, he dealt with it professionally and was very quick to reply with any questions and ... Morein the last week
I cannot recommend Trent highly enough. From the very beginning, he was professional, efficient and incredibly committed to helping me secure the right ... Morein the last weekpowered by
We don't lend directly. A broker advocates for your application, which is the part you cannot do for yourself when you walk into a lender on your own. Every rating below is that broker's own Google rating as published on the Yes Loans about page.
The eligibility bar isn't as high as a bank's. To apply for a bad credit personal loan through Yes Loans, you generally need to:
A less-than-perfect credit history won't automatically rule you out. Our brokers assess your current financial position alongside your credit file. Stable income and a few months of clean repayment behaviour carry real weight with specialist lenders, even if your past has some marks on it.
Getting started takes less than 10 minutes.
Fill in the form on this page. Tell us what you need the loan for, how much you're looking to borrow, and a bit about your income.
One of our brokers looks at your situation and identifies the lender on our panel best placed to approve your application.
You'll get a clear breakdown of what's available, including rates, fees, and repayments, before you commit to anything.
Once you're happy, we handle the paperwork and get funds moving.
You can apply online from anywhere.
Comparison rate disclosure: All comparison rates are calculated on a $30,000 secured loan over 5 years. Warning: comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate.
Bad credit personal loans carry higher interest rates than standard personal loans. That's honest, and we'll always tell you upfront. Specialist lenders charge more because they're taking on greater risk. What matters is whether the repayments work for your budget and whether the loan genuinely improves your situation.
Our brokers walk you through the full cost of any loan before you agree to it: the interest rate, the comparison rate, all fees, and your total repayment across the term. No surprises.
Use our personal loan calculator to get a rough sense of repayments before you call.
Getting turned down is not the end of the story. Yes Loans accesses specialist lenders others can't, and our brokers take the hard work out of getting finance when your credit history isn't perfect.
Whether you need a personal loan for bad credit for debt consolidation, unexpected costs, or something you've been planning for a while, chat to one of our brokers and find out what's possible. You can also explore our car loans options if transport finance is part of the picture.
What is a credit check in Australia, what's on your credit file, and what do lenders actually look at? Here's what you need to know before you apply.
Learn how to use a personal loan for debt consolidation, simplify your repayments and take control of your finances with Yes Loans.
Understand the main responsibilities and importance of having a finance broker. Learn how they can assist you in getting your desired asset.
Yes. Mainstream banks may decline your application, but specialist lenders work specifically with borrowers who have defaults, missed payments, or low credit scores. A broker like Yes Loans matches you to the right specialist lender based on your actual situation, not just a credit score threshold.
There's no fixed minimum when you apply through a broker. Specialist lenders look at your full financial picture, including your income, employment, and recent repayment behaviour. Some lenders on our panel consider applicants with scores well below what any bank would accept.
They can be either. Unsecured personal loans for bad credit don't require an asset as security, but they often carry higher rates. Secured loans, where you offer a vehicle or other asset as collateral, can improve your approval chances and sometimes reduce your rate. Our brokers will explain both options based on your situation.
Applying through Yes Loans generates a single credit enquiry, not multiple. If you applied direct to several lenders in a short period, each enquiry would appear on your file and could drag your score lower. Going through a broker protects your file while still giving you access to multiple lenders.
Yes, Centrelink income is considered by several lenders on our panel. You'll need to show that your total income covers the repayments comfortably. Our brokers can advise which lenders accept Centrelink as a primary or supplementary income source.
Timeframes vary by lender and application complexity. Some specialist lenders can provide conditional approval within 24-48 hours. Our brokers will give you a realistic timeline once they've assessed your profile and matched you to a lender.
Payday loans are short-term, high-fee products that can trap borrowers in a cycle of debt. Bad credit personal loans through specialist lenders are structured term loans with fixed repayments, clear fees, and proper credit assessment. Yes Loans doesn't offer payday loans. We match you to responsible lenders who assess your ability to repay.