How to read a small-loan quote: a worksheet
A practical worksheet for checking a small-loan quote, including a transparent arithmetic example and independent help.
Published by CashLift
Published
In this guide
A repayment amount tells you only part of a loan’s cost. Copy the amounts and dates from the written quote, then check what you would receive, what you would repay and what remains unclear.
CashLift is preparing to launch its credit service and has a commercial interest in this topic. This worksheet helps you read a quote; it is not an offer, a personal recommendation or confirmation that a loan is affordable. Keep your completed worksheet yourself — you do not need to send your figures to CashLift.
Copy the amounts and dates
Use the table below or download the blank CSV worksheet. You can open the CSV in a spreadsheet application or print this page. The download contains no customer information.
| What to record | Your quote |
|---|---|
| Provider and quote date/version | __________ |
| Money actually paid to you or on your behalf | $__________ |
| Amount described as the amount of credit | $__________ |
| Initial fees: included or paid separately? | __________ |
| Each recurring fee and its charging dates | __________ |
Each repayment and due date, including the final payment | __________ |
| Sum of all scheduled repayments | $__________ |
Required costs paid separately, not already in that sum | $__________ |
| Late/missed-payment charges and conditions | __________ |
What changes with early repayment or a changed start date? | __________ |
| Questions not answered in writing | __________ |
Do not add a fee twice. If it is already included in scheduled repayments, it is part of that sum. Keep charges that depend on an event, such as a missed payment, separate from the on-time schedule and ask how they work. A single total does not describe every possible outcome.
Check the arithmetic
For the quoted on-time schedule only:
Scheduled outlay = all scheduled repayments added together + required separately paid costs not already included.
Difference from money received = scheduled outlay − money actually received.
The difference is a dollar comparison for that specific schedule. It is not an interest rate, comparison rate or legal definition of fees. Different timing, conditions and product structures can make two dollar totals unsuitable for direct comparison.
An arithmetic example
Suppose a constructed example pays $500 to a borrower, lists five repayments of $106.67 and one final repayment of $106.65, and has no required costs paid separately. These are illustrative numbers, not an available offer or a customer result.
| Calculation | Result |
|---|---|
| Five × $106.67 | $533.35 |
| Plus final $106.65 | $640.00 scheduled repayments |
| Plus required separately paid costs | $0.00 |
| Scheduled outlay less $500 received | $140.00 difference |
The smaller final payment makes the cents reconcile. This example does not establish a lawful fee structure, a loan term, affordability or what happens if payments are missed. Check those separately in the actual quote and contract. For CashLift’s planned costs and dated illustrations, see rates and fees.
Consider the decision as well as the total
Put the due dates beside essential expenses and your other commitments. If the schedule would leave essentials unpaid, or you would need another loan to meet it, pause and seek help. Ask the provider to explain unclear amounts or conditions in writing before deciding.
Consider alternatives before taking a small loan. ASIC’s Moneysmart describes No Interest Loans, possible Centrelink advances and arranging more time with a bill provider; eligibility and circumstances vary. It also points people struggling with repayments toward financial counselling. Read Moneysmart’s small-loan guidance and follow its independent support links. No endorsement of CashLift or relationship with those services is implied.
Our alternatives guide explains other options for unexpected expenses. If you are comparing CashLift’s planned product with another quote, read what a SACC is and distinguish the money received from the amount of credit.
Method and sources
CashLift prepared this worksheet and the constructed example on 20 October 2026. The example uses integer cents: five × 10,667 + 10,665 = 64,000; subtracting 50,000 gives 14,000 cents. It uses no borrower records or confidential lending information. It does not model contingent charges or assess suitability.
ASIC Moneysmart, Payday loans, checked 20 October 2026, supports the alternatives and help context. It does not approve this worksheet or the illustration. Read our editorial policy for publisher attribution and corrections.