WARNING ABOUT BORROWING
Do you really need a loan today?
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems. Check your options before you borrow:
• For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and Independent financial counsellor;
• Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan;
• If you are on government benefits, ask if you can receive an advance from Centrelink: 
www.humanservices.gov.au/advancepayments;
• The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Close

Consumer Credit Loans

This Target Market Determination (TMD) has been prepared in accordance with the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 (Cth) and associated Regulations. TMDs are designed to assist issuers to ensure that the financial products they issue are likely to be consistent with the likely objective, financial situation and needs of the consumers for whom they are intended (the target market) and to assist distributors to ensure that financial products are distributed to the target market.

This TMD is general in nature and should not be construed as financial advice. Consumers should obtain independent advice prior to acquiring the product to ensure that it is appropriate for their objectives, financial situation and needs.

Product

Consumer Credit Loans (between $300 and $5000).

Product Issuer

This product is issued by Simple Finance Group Pty Ltd, Australian Credit Licence No. 509422

Date of TMD

1 August 2025

Target Market Determination

Description of target market, including likely objectives, financial situations and needs

This product has been assessed as meeting the likely objectives, financial situation and needs of consumers who:

•

Meet the company’s eligibility criteria (including but not limited to):

•

Are over the age of 18 years of age

•

Are an Australian citizen or permanent resident

•

Are currently employed and receive a weekly income greater than $450.

•

Have the ability to repay the loan over a term no greater than 12 months if the loan is between $300 and $2000 and no greater than 24 months if the loan is between $2001 and $5000..

•

Can complete the application form online.

Description of product including key attributes

This product’s key attributes include the following:

•

Loan Advance between to $300 and $5000 subject to lending criteria

•

Loan repayments are up to a term no greater than 12 months if the loan is between $300 and $2000 and no greater than 24 months if the loan is between $2001 and $5000.

•

Fees and charges including (a) Establishment Fees, (b) Monthly fees; and (c) Late fees

•

Product features:

•

Online application process

•

Customer portal

•

Customer support including phone, email and chat capabilities

•

Electronic contract distribution and signature capability

Class of customers for whom this product is not suitable

This product may not be suitable for consumers who:

•

Do not meet our eligibility criteria; or

•

Do not have the ability to repay the loan in full in accordance with their repayment schedule

•

Are not gainfully employed or do not believe that they will be employed at any time during the loan term.

Explanation of why the product is likely to be consistent with the likely objectives, financial situation and needs of consumer in the target market

•

The product allows consumers to borrow monies for a term up to 12 months if the loan is between $300 and $2000 and up to 24 months if the loan is between $2001 and $5000..

for the purpose of covering expenses or making purchases.

Distribution Conditions

This product can be distributed through the distributors set out below. All distribution channels require an application for the loan to be submitted to Simple Finance via its website or the Simple Finance sales team.

1.

Direct – Simple Finance’s website and sales team

Simple Finance staff are required to undertake training prior to assisting applicants with loans and must follow all documents procedures. Simple Finance will ask screening questions as part of the application to ensure that a prospective borrower is within the target market set out above.

Simple Finance considers this is an appropriate distribution channel because the nature of the target market and the requirement of all sales staff to have the necessary training, skills and knowledge to assess whether the consumer is within the target market.

2.

Authorised Representatives

Authorised Representatives who are appointed by Simple Finance can distribute this product. Simple Finance will only enter into agreements with authorised representatives who it considers are reputable and who have the necessary education and experience that Simple Finance requires. Simple Finance considers this is an appropriate distribution channel due to their industry knowledge and the nature of the target market.

Review Triggers

 Review Triggers

The following events are review triggers that would reasonably suggest that the TMD is no longer appropriate:

•

A significant dealing of the product to consumers outside the target market occurs

•

A significant number of complaints are received from consumers in relation to the product

•

There is a material change to the product or the terms and conditions.

•

There is a material number of:

•

Hardship applications

•

Overdue loans

•

Defaults

•

There are significant changes to Australian credit laws that affect the product.

Review Period

Review Period

Last review date: 1 August 2025

Period reviews: Every 12 months after the initial review and each subsequent review.

Trigger reviews: Review to be completed within 10 business days of the identification of a trigger event.

Review Trigger Reporting Requirements

Staff and distributors must advise Simple Finance if they become aware of any of the following matters within the corresponding timeframe.

Type of Information

What is reported

When it is reported

Product complaints

Information relating to complaints received about the product or the distribution of the product, including:

•

Number of complaints

•

Name and contact details of the complainant

•

Substance of the complaint.

Period reviews: Every 12 months after the initial review and each subsequent review.

Feedback

Any feedback received about the product or the Distribution Conditions for the product

Every 3 months

Significant dealings

Date or date range of any significant dealing of the product outside the Target Market

As soon as practicable and in any event within 10 business days after becoming aware of the significant dealing

Find the right MeLoan for me

Contact UsApply Now

MeLoan respectfully acknowledges and honors the Aboriginal and Torres Strait Islander peoples as the original inhabitants and Traditional Custodians of the land and waterways across Australia. We acknowledge and appreciate their ongoing relationship with their culture, community and Country, and express our gratitude and respect to the Elders, both past and present.

Disclaimer Notice
Warning about borrowing
Meloan
HomeAbout UsServiceBlog
Loans
How it WorksPayday LoansInstant Cash LoansQuick Cash LoansShort Term LoansSame Day LoansPersonal LoansOnline LoansNo Credit Check LoansAccess Pay EarlySmall Loans1 Hour LoansCentrelink LoansCash Advance
Policy
Acknowledgement and ConsentPrivacy PolicyDispute ResolutionCredit GuideTerms Of UseTarget Market Determination
Support
Contact UsFAQ'sMedia
Copyright 2025
MeLoan Australia