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Associated fees:
Interest rates between ~17.5% and 29.95% p.a. (based on credit profile)
Application fee applies
Possible monthly service fees
Best For:
✔ Borrowers needing a large personal loan with longer repayment terms
✔ Customers with bad credit who need flexible approval criteria
Associated fees:
Interest rates between ~17.5% and 29.95% p.a. (based on credit profile)
Fees vary depending on the car and the loan amount
Best For:
✔ Borrowers needing financing for a new or used car
✔ People with bad credit who struggle to get car loans from banks
Associated fees:
Interest rates is based on the borrower's creditworthiness
Best For:
✔ Small business owners needing working capital, expansion, or equipment financing
Key points:
Flexible repayment options for businesses
Does not require perfect credit for approval
Interest rates vary widely depending on financial history
Limited to smaller business loans
Associated fees:
Competitive interest rates based on credit profile
Best For:
✔ Borrowers wanting to combine multiple debts into a single repayment
Key points:
Lower overall monthly repayments compared to multiple loans
Can improve financial stability by simplifying debt management
Requires proof of income stability to qualify
Not available for borrowers with active bankruptcies
✔ Applications are reviewed manually, which may take 24 – 48 hours.
✔ Funds are typically disbursed within 1 – 3 days after loan approval.
✔ Car loans and business loans may require additional verification time.
The information included here on Friendly Finance is accurate and in line with the data provided on FinanceOne’s website as of February 2025.
About Finance One
📌 Founded: 2010
📌 Headquarters: Townsville, Queensland, Australia
📌 Credit Licence: Australian Credit Licence (ACL) 388531
📌 Regulated by: Australian Securities and Investments Commission (ASIC)
📌 Main Services:
✔ Personal Loans (For Bad Credit Borrowers)
✔ Car Loans (Secured & Unsecured)
✔ Business Loans
✔ Debt Consolidation Loans
Finance One is an Australian non-bank lender specializing in personal, car, and business loans for individuals with less-than-perfect credit histories. Unlike traditional banks, Finance One considers applicants who may have bad credit, defaults, or financial hardships but can demonstrate financial stability.
The company offers structured repayment plans and flexible loan options, aiming to help borrowers rebuild their credit while accessing financing for essential purchases like vehicles, personal expenses, and business needs.
Finance One: Eligibility Requirements
The application process for Finance One is done through the company’s website or you can also easily apply for a loan using this form. To process your loan application, you need to pass Finance One's eligibility requirements:
- You must be a resident of Australia.
- You must be at least 18 years old.
- You must have a valid Australian driver’s license or passport.
- You must have a valid Australian bank account.
- You must have a good credit history.
- You must be employed for at least 3 months in continuity.
The application process for a loan from Finance One is relatively simple. However, it is important to provide all of the required documentation and information to be approved for a loan.
Flexible Eligibility: Finance One aims to find finance solutions for everyone, even individuals who may have been rejected by other lenders and banks. They have flexible criteria for employment and can consider borrowers with as little as 3 months of casual employment
Range of Finance Options: Finance One provides a variety of finance options, such as personal loans, business loans, and car loans. They cater to different borrowing needs and offer solutions for individuals and businesses.
Acceptance of Credit-Impaired Borrowers: Finance One is willing to lend to individuals who have had defaults on their credit file, a bad credit history, or have recently been bankrupt. They take into account recent improvements in a borrower’s conduct and financial situation.
Easy Online Application Process: Finance One provides an easy and convenient online completion process. Borrowers can apply for funds through their 24/7 internet platform, making the application process quick and accessible.
Lower Industry Interest Rates: Finance One aims to offer customers lower interest rates compared to industry standards. This can help borrowers save on interest costs over the life of the loan.
No Early Payout Fees: One advantageous feature of Finance One loans is that they do not charge early payout fees. Borrowers who are credit impaired and confident in their ability to make repayments can refinance their loan with a lender offering a lower interest rate without incurring additional fees.
The Company: Finance One
There are some positives and negatives for prospective borrowers to consider before using FinanceOne as an online lender. As part of the reviewing process for this page, customer feedback and common questions answered on the company website were considered for the overall assessment.
Positives
- Easy application
- Great customer service
- Reasonable interest rates
- Flexible repayment terms
- Quick approval
Negatives
- Long application process
- Cosigner requirement
- Hidden fees
