Credit guide

This is the Credit Guide of Good Shepherd Microfinance ABN: 36 151 124 408, of Level 11, 350 Queen Street, Melbourne, VICTORIA 3000. Australian Credit Licence 492819. Good Shepherd Microfinance is the issuer of Speckle loans.

This Credit Guide contains important information about:

  • a description of our key obligations before entering into a credit contract with you; and
  • our complaints procedures and how you can access them. This Credit Guide applies from 1 June 2017 and remains valid unless a further Credit Guide is issued to replace it.

We will need information from you. Under the NCCP Act, we are obliged to ensure that any loan we arrange for you is not unsuitable. To decide this, we may need to ask you some questions in order to assess whether the loan is not unsuitable. The law requires us to:

  • make reasonable inquiries about your requirements and objectives;
  • make reasonable inquiries about your financial situation;
  • take reasonable steps to verify that financial situation, which for small amount credit contracts, requires us to obtain and consider your bank account statements for the past 90 days.

Credit will be unsuitable if at the time of the assessment, it is likely that at the time the loan is made:

  • you could not pay or could only pay with substantial hardship;
  • the credit will not meet your requirements  and objectives. For example, if you can only repay by selling your principal place of residence, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason we must ask you to provide a significant amount of information. It is therefore very important that the information you provide to us is accurate. We must provide you with a copy of our credit assessment of your application if you ask within seven years of the date of the loan contract. We are only required to give you a copy of the credit assessment if you enter into a loan contract.

Our internal dispute resolution scheme

We hope our service is of a highly professional and acceptable standard, but if you have any complaints you should notify us by contacting our Internal Dispute Resolution Manager at: Phone: 13 43 23 Email: [email protected]  Postal:  P.O. Box 12059, A’ Beckett Street VIC, 8006. You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing. We will try to resolve your complaint quickly and fairly. We must provide you with a response within 21 days, but we will try to resolve your complaint within 5 business days.

Our external dispute resolution scheme

If your complaint cannot be resolved to your satisfaction by us, you have the right to refer the matter to our external dispute resolution provider, the Financial Ombudsman Service Australia by contacting them on: Phone:  1800 367 287 Web:  http://www.fos.org.au/ Postal:   GPO BOX 3, Melbourne, VIC 3001 Quote membership number: 39519.  External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. You can obtain further details about our dispute resolution procedures and obtain details of our privacy policy on our website.

Things you should know before you accept your loan offer, make sure you read the loan agreement carefully to fully understand all details of the loan. If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract.

Questions? If you have any questions about this Credit Guide or anything else about our services, just ask us via email: [email protected]  or phone: 13 43 23