Spondooli Responsible Lending

All Short Term Lenders Must Practice Responsible Lending

In line with new legislation recently passed the Federal Government through the National Consumer Credit Protection Act 2009, and more recently through the Consumer Credit Legislation Amendment (Enhancements) Act 2012, all short term lenders must practice responsible lending.
At all times, all lending done by Spondooli is in accordance with these principles and in line with all current federal legislation.
Spondooli has an Australian Credit License issued by ASIC to engage in credit activities.
Spondooli is here to help you find a short term financing solution
If we do not believe that providing you an advance will help your financial situation, but rather add to your current financial stress, we will not approve your advance.
We are to help you, not to hinder you!
We have recently incorporated into our lending practice (which took effect on 1st March, 2013), the following changes reflecting current legislation:
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Upon applying for finance, all applicants must supply to us 90 days history of their current bank statement, up and to the day of application
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In the majority of cases, the maximum number of loans any borrowers can have with us within a 90 day period is two
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No applicant can obtain a new advance if either their current advance with us, or any advance with any other lender is in arrears
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If in the 90-day period before the time of our assessment, the consumer has been a debtor under two or more other small amount credit contracts, in the majority of cases, we will decline their application
In addition to the policies listed above, we have developed a most thorough series of principles and policies that ensure not only responsible lending but also that our customers best interests are always first and foremost.
Spondooli is here to help you find a short term financing solution
If we do not believe that providing you an advance will help your financial situation, but rather add to your current financial stress, we will not approve your advance. We are to help you, not to hinder you!!

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