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New instant loan machines a recipe for disaster?

Instant loan machines have begun popping up in suburban shopping centres. Cash and go machines allow people in some of Australia’s most disadvantaged communities to take out loans worth thousands of dollars.

Also read: Would Labor’s proposed changes send property prices plummeting?

There are 3 machines, which look like just like ATM’s, located in NSW suburbs where weekly incomes are up to 30% lower than the national average.

But experts warn that the machines are a recipe for disaster.