Kwoom Makes Cash Advances Faster In Australi

By Author: Donny Jenkins
Total Articles: 202
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Kwoom is very different to traditional short term lenders. Typically cash advance and payday lenders have actively marketed to people on low incomes and the out of work. Unfortunately there’s often more income to be made in getting late fees and allowing this to continue loans than in ethical lending. However the side-effect of this is that people who can legitimately afford to make use of short term finance responsibly end up paying much more to do so. Essentially they end up subsidising lenders’ poor financing practices by paying more to make up for all those customers who can’t (or won’t).

This is the way things have been for as long as we can keep in mind. But Kwoom was started with the express reason for only lending to individuals who can comfortably manage to pay it off. Having worked within the finance industry for companies including banks, payday loan lenders & debt collection agencies we’ve seen first-hand the harmful effects of misdirected short-term finance. Whilst we may not make as much money by lending responsibly and having higher eligibility criteria than other companies, ...
... we passionately believe it’s the right way to run. We have a loyal subscriber base who pay much less because of it and they’re the reason we’re still in business. The customers range from individuals who just need a couple of hundred bucks to go to a music festival in order to young people without the substantial credit histories which are necessary for mainstream credit score . They include people who’d rather not have the ongoing costs and hassle of credit cards to regular working folks who need a little help paying their own bills from time to time. Regardless of the circumstances, our reduced rates make short-term finance a beautiful alternative to higher cost types of credit and we’re often cheaper than racking up overtime charges for expenses.

Being fully online is great for us (and also you). Thanks to the internet there’s no requirement for physical proximity between us and our customers. People can compare the rates as well as services of lenders Australia-wide rather than just in their area. We don’t have the rental and staff expenses of bricks-and-mortar lenders or even have to staff pricey call centres, and that we pass on the savings to you. When you are approved for a loan you’ll receive the mobile number of your own personal account manager who you may call if you have any questions. Alternatively you can just send us an email and we’ll get back to you inside 24 hours and usually within 12.

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