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Responsible Lending

At Need Money Now, we’re committed to responsible lending. We model total transparency about our short-term loan service, how much it costs and what you need to do to take advantage of it.

Because Need Money Now is a responsible lender, one of the first things we’ll do is encourage you to explore other options before you take out a loan with us.

Need Money Now’s loans are intended to cover unexpected contingencies like car repairs, a sudden medical emergency or anything else that pops up in the middle of your life, unexpectedly.

Debt is not a desirable way to manage your life. If you’re currently in debt, we’re not going to encourage you to borrow from us, as it will only add to the debt spiral. We strongly advise you to speak with the Citizens Advice Bureau or that you seek out budgeting advice from an online source like sorted.org.nz.

You may be thinking about borrowing from us to pay off your bills or a debt. Before you do that, have a word with the party you owe money to and ask about the possibility of arranging a payment plan. It’s always best to ensure you’ve exhausted other avenues before incurring more debt by taking out a loan with us.

Why Need Money Now is Committed to Responsible Lending

Fair, reasonable loan terms are something else we’re committed to at Need Money Now and responsible lending is the foundation from which we provide them.

Our responsible lending practices include:

  • First loans of between $100 and $500. Subsequent loans of up to $1,000, when you meet our lending criteria.
  • We’ll only loan to you if you’re permanently employed, earning more than $400 net, per week.
  • We don’t consider benefits income and won’t loan to those who describe themselves as self-employed, on a pension or receiving disability benefits.
  • We ensure that you can comfortably repay your loan by setting up your repayment schedule to limit each payment to 25% or less of your net weekly pay, each pay period.
  • Due to regulatory changes, we’ll ask you why you’re seeking a loan with us. We may not accept your rationale for borrowing, as part of our stance as a responsible lender.
  • We fully advise all prospective clients of our fee and interest structure.
  • On our site, you’ll find a handy, user-friendly loan calculator. Here, you can calculate how much your loan is going to cost. You’ll see what the interest charges will be, how many payments are most comfortable for you and the final amount with all charges included.
  • Need Money Now is bound by legislation that compels lending entities to identify new customers. Our system is secured for the collection of personal information and the prevention of data breaches. Further, we’re fully transparent concerning our privacy policy and security information.

More questions?

We hope our FAQ page will answer those. If not, please contact us. Also, take a moment to read our Terms and Conditions and to inform yourself about our Financial Hardship Policy.