How Fast Can You Get a Loan?

When you need money, you often need it quickly. Whether it’s an unexpectedly high power bill, unforeseen medical costs or an important purchase, some expenses just can’t wait for your next pay day.

So, the question is: Just how fast can you get a loan? The short answer is very fast. The long answer is below.

How fast can you get a loan with Cigno?

Our team specialises in quick and small cash loans up to $1,000. We can often get your application approved and your funds transferred on the same day that you apply. If you apply after 5.00pm AEST, you’ll usually receive your money the next morning. And yes, this includes weekends.

Cigno’s online application platform is open 24/7, which means you can apply anytime from anywhere and get your money in less than 24 hours.

How fast can you get a loan with a bank?

Banks and credit unions are great for getting larger loans, but they’re not particularly helpful when it comes to quick, small loans. It can take several days or even weeks for a bank to review your application. Many institutions rely on staff to manually review loan applications, which takes longer and makes it difficult to predict when your application will be approved.

Then you have to wait for the money to transfer. If you’re getting a loan from your regular bank, this may only take 1 business day. However, if you’re borrowing from a different bank, it could take several days or weeks for the cash to come through.

How fast can you get a loan with a peer-to-peer lender?

A third alternative you may not have considered is peer-to-peer lending. A P2P lender matches you with an investor who provides the cash.

On the plus side, getting approved by a P2P lender can be almost as quick as getting approved for a payday loan. But getting the actual money can take up to a week, as the company will need to find an appropriate investor and make the arrangements with them.

How do I get a fast loan?

Whether you choose a bank, peer-to-peer lender or short-term finance specialist like Cigno, there are a few general tips that can help you get approved and receive your money sooner.

  • Be prepared. Gather all the necessary documents and information before beginning your application. The files you need will vary depending on your lender, but they will typically ask for recent bank statements and photo ID as a minimum. Having all your information ready to go will save you from rummaging through desk drawers or clicking through your computer files during the application.
  • Check your credit rating. Finding a lender who will approve your application can be a time-consuming process, so it helps to know from the get-go if your credit history might be an obstacle. If you see in advance that your credit rating is low, you can avoid wasting time with any institutions that are notoriously reluctant to consider loans for people with bad credit.
  • Complete the forms carefully. A simple mistake on your application could cost you an extra day while the lender waits for you to correct the error and resend. Double-check that all the details are correct and accurate before you submit.

Feel free to contact our friendly team if you’d like more advice for making sure your loan gets approved as quickly as possible.

Disclaimer: Please be aware that Cigno Loans’ articles do not replace advice from an accountant or financial advisor. All information provided is intended to be used as a guide only, as it does not take into account your personal financial situation or needs. If you require assistance, it is recommended that you consult a licensed financial or tax advisor.


Ordered by the Federal Court of Australia

The Federal Court of Australia has found that Cigno Australia Pty Ltd (Cigno Australia) and BSF Solutions Pty Ltd (BSF Solutions) have breached the law by engaging in unlicensed credit activity and charging prohibited fees.

In the period from July 2022 to 3 October 2023, over 100,000 consumers have been lent a total of $34 million, and charged fees of over $70 million, under the ‘No Upfront Charge Loan Model’ operated by BSF Solutions and Cigno Australia. At no time has either BSF Solutions or Cigno Australia held an Australian Credit Licence.

The Court also found that Mark Swanepoel (director of Cigno Australia) and Brenton James Harrison (director of BSF Solutions) were involved in these breaches of the law.

With effect from 24 May 2024, the Court has granted permanent injunctions preventing Cigno Australia and BSF Solutions from:

  • demanding, receiving or accepting fees or charges, including amounts of loan principal, from consumers in relation to credit provided under the ‘No Upfront Charge Model’; and
  • engaging in further credit activity pursuant to the ‘No Upfront Charge Loan Model’, including by entering into new agreements with consumers, for so long as they do not hold an Australian Credit Licence.

Cigno Australia was ordered by the Court to, by 5th July 2024, send written communications to consumers who between July 2022 and December 2022 entered into agreements with Cigno Australia and BSF Solutions under the ‘No Upfront Charge Loan Model’.

The Court will later determine whether (among other things) Cigno Australia and Mark Swanepoel ought to pay a pecuniary penalty in respect of this conduct, and whether Mark Swanepoel should be restrained from carrying on a business engaging in credit activity.

Cigno Australia, BSF Solutions, Mr Swanepoel and Mr Harrison intend to appeal the decision of the Court and have filed an application for leave to appeal. If the appeal is successful, some or all of the orders of the Federal Court of Australia may be set aside.

Where can you get more information?

Where to go for further support

You can access legal advice in your state at: Free legal advice –

If you are experiencing trouble with debt, or money worries in general, contact:

  • the National Debt Helpline on 1800 007 007 or online chat (9:30am to 4.30pm, Monday to Friday).

If you need someone to talk to, contact:

  • Lifeline on 13 11 14 (24 hours) or their crisis support online chat or
  • Beyond Blue on 1300 22 46 36 (24 hours) or their webchat