Responsible Lending

We take our responsibilities very seriously. The short term lending sector is covered by some of the most stringent regulatory rules of any industry, and we aim to serve all of our customers well, and try to assist with solving the circumstance that brought them to Prontofinance.com.au.

At Prontofinance.com.au, we have no interest in providing a loan that cannot be repaid. Why would we? It could jeopardise the welfare of the customer, and it doesn’t make good business sense. Also, we’re obliged by law to ensure that the loan fits the need, that’s called our “Responsible Lending Obligation”.

We take careful note of each customer’s individual circumstances before we recommend a loan amount to ensure we don’t lend customers more than they can afford to repay. Doing this means we can ensure that we have responsibly catered for the needs of our customer.

We have very strict rules in place at Prontofinance.com.au to ensure that our customers are looked after.

How we determine your capacity to repay a Prontofinance.com.au

The first thing we need to do to ensure that a customer is able to obtain a loan, whether that is a Prontofinance.com.au Advance, or a Prontofinance.com.au Personal Loan, is to work out what the customer’s income is. We need to know this so that we can determine how much the customer can afford to repay. To do this, we look at bank statements to determine the customer’s income level over a long period of time.

Just checking the last income statement or income payment is not enough. We also need to see what the customer’s regular income is. For example, the customer may have just received some over-time pay, but unless this is a payment that occurs regularly, we can’t include this as regular income. Over-time pay is considered to be a one-off payment and doesn’t give our Prontofinance.com.au team member a true indication of what the regular income is.

At Prontofinance.com.au, we want to help, and we have no interest in getting people into financial difficulty. By ensuring that a customer can afford to repay a Prontofinance.com.au Advance loan or a Personal Loan, we’re helping them get on with life.

Why we want to see bank statements

One of the best ways for our Prontofinance.com.au Personal Finance staff to assess the capacity to afford a short term loan is to assess the amount of income a customer receives. The easiest way to do this is to examine bank statements which provide a clear and medium term assessment of income, and therefore the capacity of a customer to repay a loan.