Line of Credit (LoC)
Last reviewed: 20/05/2025
About this document
This target market determination (TMD) seeks to offer consumers, distributors and staff with an understanding of the class of consumers for which this credit product has been designed, having regard to the objectives, financial situation and needs of the target market.
The TMD will also describe how the product is distributed, when this document will be reviewed and what information is required to be provided to help maintain the accuracy of this document.
The product is issued by Fair Go Finance Pty Ltd. More information about this product is contained on Fair Go Finance’s website (fairgofinance.com.au), which contains full details of the product terms and conditions. Consumers should consider whether the product is appropriate for them before making any decision about whether to apply for or enter into the product.
This document is not a product disclosure statement and is not to be treated as a full summary of the product’s terms and conditions. It has been prepared without taking into account any person’s particular objectives, financial situation or needs and is not intended to provide financial advice. Consumers should consider the product’s full terms and conditions when making a decision about this product.
Who this product is designed for
The Line of Credit product has been designed for customers who:
are looking to apply for finance in an “online” environment with an “always on” (24/7) access;
are willing to provide Fair Go Finance with access to their bank transaction history and credit history to help us assess their application;
require a credit facility that provides flexibility and to supplement any savings and/or regular or usual disposable income for the payment of unforeseen expenses;
typically have a bureau score of at least 500 and can self-manage repayments online to reduce the balance, reduce the cost of credit, access funds and redraw;
want digital or personal access to account information and support from customer services to discuss loan contract terms, repayments & disbursement details;
are looking for a credit limit between $1,000 and $2,000;
are seeking a revolving line of credit with the ability to redraw available credit to cover recurring expenses;
that provides ongoing access (subject to any restrictions imposed by the issuer) to a credit limit, provided that repayments are made on time; and
want the certainty of a fixed minimum periodic repayment amount.
Who this product is not suitable for
This product is not suitable for customers who:
require a credit limit that is less than $1,000 or more than $2,000;
do not require the ability to redraw available credit, subject to the relevant terms and conditions.
are unlikely to be able to meet their payment obligations under the loan either at all or only with substantial hardship;
are unemployed and their sole income is from Government benefits;
require a longer term loan that can be repaid over a number of years;
entered a bankruptcy or a part IX in the last six months
are under 18 years of age.
Distribution conditions
An application for a Line of Credit can only be made via the Fair Go Finance website, with support provided by employees in Fair Go Finance’s contact centre where required. Fair Go Finance employees can only provide assistance in relation to an application for a Fair Go Finance loan if they have received adequate training and they must follow Fair Go Finance’s applicable policies and processes. The online application assessment process includes a number of questions that help to determine if the applicant is within the target market for this product. The information provided by the applicant during the application process will be used to determine if we will offer to provide a loan to the customer and, if so, for what amount and loan term. The customer should always answer these questions accurately and check with Fair Go Finance if they are not sure what a question means.
Additionally, the product may be promoted to the target market via comparison websites such as Finder. These third party websites provide information about the product on their website and provide consumers with an opportunity to make an application through an electronic link. Any such applications must be completed and processed via our online application process, which contains the questions set out above used to determine if the applicant is within the target market for this product, whether we will offer to provide a loan to the customer and, if so, for what range in amount and loan term.
These conditions make it likely that the Line of Credit will only be offered to customers within the target market for this product because:
any comparison websites are vetted and authorised by Fair Go Finance;
Fair Go Finance’s employees have knowledge of the product terms and conditions and the product TMD; Fair Go Finance’s processes are designed to identify instances where a customer falls outside the target market; and
Fair Go Finance has the sole determination of whether a consumer acquiring the product meets the eligibility criteria, assessed according to the consumer’s requirements and objectives.
Reviewing this document
Fair Go Finance, as the issuer and distributor of this product, collects information and prepares reports regarding loan volumes, average loan amounts, default rates, complaints and any occasions where this product has been provided contrary to the TMD on an at least annual basis to help improve our products and services.
We will review this TMD if:
there is a material change to the design or distribution of the product, including the terms and conditions applicable to the product or other related documentation, or on there being a relevant amendment to the National Consumer Credit Protection Act or any associated law which has the effect of altering the rules relating to the provision of continuing credit contracts;
we amend or introduce other ways in which this product can be provided or distributed;
in respect of the total funded loans in any given calendar quarter, the total number of complaints received from those same customers exceeds 1%;
in respect of the total funded loans in any given calendar quarter, the total number of hardship applications received from those funded customers exceeds 3%;
the total outstanding balance of payments more than 14 days overdue as a percentage of total amount originated is greater than 6% in any given calendar quarter;
there is an external event such as adverse media coverage or regulatory attention;
the business performance and value provided by the product indicates that the TMD is no longer appropriate, having regard to appropriate data such as customer demand for the product, loan volumes, application approval rates, customer default or loss rates and the nature and number of customer complaints;
we identify that there has been a significant dealing in the product that is not consistent with the TMD, by detecting that more than 5% of the consumers receiving our product in any given calendar quarter are not within our target market based on specific complaint information; and
if any external source such as ASIC, AFCA, or community based consumer organisations communicate to us that they have identified a systemic issue or if the number of complaints referred to AFCA or by community based organisations is greater than 15 in any given calendar quarter.
Our review will occur within 10 business days of any of the above events occurring.
In any event, a review of this TMD will be completed no later than six months from the publication date of this TMD and subsequently at twelve month intervals.
Distribution information reporting requirements
In the event that distributors (other than Fair Go Finance) engage in retail product distribution, the following information must be provided to Fair Go Finance by distributors who engage in that retail product distribution in relation to this product:
Questions?
If you have any questions about our credit products or this TMD, please contact us on 1300 324 746 or by email at apply@fairgofinance.com.au
First publication date: 20 May 2025
Last review date: 20 May 2025
Issuer: Fair Go Finance Pty Ltd (ABN 18 134 369 574, Australian Credit Licence 387995)