What is an ACL?

As of 1 January 2011, by law, any business or individual that is involved in credit activities must either hold an Australian Credit Licence, or be appointed as a credit representative under an ACL. "Credit Activity" under this regulation is defined as activity relating to credit contracts, consumer leases, related mortgage and guarantees and credit services.

ACL's were made law to ensure that everyone who engages in credit activities adheres to industry standards: to create an industry that is more fair and transparent, so that you can be confident and informed when considering what credit is best for you.

When you are considering credit, check that the people you are dealing with have an ACL. Anyone operating without an ACL is operating illegally, and should be reported to the Australia Securities & Investments Commission (ASIC).

loans.com.au is the online brand of wholesale lender FirstMac Limited (FirstMac) and we operate under FirstMac's ACL 290600.

To find out more information, or to search for an ACL, refer to the ASIC website.

This information has been prepared without taking into account your individual objectives, financial situation or needs. You should, before acting on this information, consider its appropriateness to your circumstances.