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Spring Financial offers a convenient online personal loan application where you can provide everything required to get approved for a loan in minutes. Then you can pay your loan off at any time with no penalties or hidden fees.Builds Credit
Every repayment towards your loan gets reported to the credit bureaus which helps build your credit. You can select from bi-weekly or monthly payments.
Smarter Loans is not a lender but a directory website where you can find lenders. Smarter Loans allow users to access over 100 lenders and compare their rates, terms, and conditions to make the best choice.Loan Types
They provide loan alternatives such as personal loans, merchant cash advances, working capital loans, mortgages, bad credit loans, and more. They allow users to access the company profile of lenders on their site. This boosts your confidence to continue the loan processing. Smarter Loans has a pre-applying feature that runs an analysis to give you the best loan option based on the information you provided on the site. The site provides users with loan calculators to save them from the math problems of loan calculations, such as the cost of borrowing for different terms, interest rates, etc.
A part of Fairstone Bank, Fairstone offers unsecured and secured personal loans online and at 250 branches coast to coast. With nearly 100 years of Canadian lending experience, Fairstone can find an affordable loan solution that suits your needs and budget.Disclaimer
Interest rates are subject to change. Actual Annual Percentage Rate (APR) varies based on the province of residence and individual factors like credit details and loan amount. The interest rate on unsecured personal loans is 31.99% in BC, 31.99% in MB, and 34.99% in QC.
SkyCap Financial is a non-bank lender, providing Canadians with alternative financing since 2013. Based in Kingston, Ontario, SkyCap Financial helps people with poor or bad credit to receive the financial assistance they need.Eligibility
To get approved for a loan with SkyCap Financial you'll need a few things: a steady income, a good credit score (600 to 900), not a lot of other debt, steady employment (full or part-time).
Borrow up to $10,000, with terms lasting as long as 60 months. SkyCap Financial is an online lender that approves applications based on a borrower’s credibility, stability and current income. If you have a less-than-perfect credit score, you can apply for a SkyCap loan.
iCash offers a variety of financing options, including payday loans for bad credit and installment loans.Eligibility
To qualify for an iCash loan, you must: be a Canadian citizen and resident, at least 19 years old, have a consistent source of income for the past three months, have a combined net income of at least $800 per month, have a Canadian chequing or savings account that has been open for at least three months, have online banking and a valid phone number, email, and physical address.
Friendly Lender offers a way for Canadians to get short-term funding online.Eligibility
As long as you are 18 years of age or above, legally reside in Canada and have a steady stream of income, you will be able to qualify for our online loan services. Other requirements by a majority of lenders are that you have an active bank account and take in at least $800 in monthly payments.Application
The information required in order to complete a request for an online loan includes your name, address, contact details, employment information, and banking details. SIN is not required, but opting to include it with your information may increase your options for the amount of online lenders available to you.
Loans Canada is not a lender but a finance search platform that connects borrowers to several lenders. They have been operating since 2012. Loans Canada allows users to compare the rates and the terms of conditions of different lending companies on their site before making a choice. The site matches the details you provide during registration with different lenders and suggests the best lenders for you.Loans with Bad Credit
Loans Canada has loan options for people with bad credit scores. However, the interest rate for this type of loan on the site has a higher interest rate. For just $1, the site can help you monitor your credit to help improve your credit score.Process
Application for a loan on loans Canada can be completed within 10 minutes, and your money can be wired into the bank account you provided in 48 hours or less.
Loan Connect acts like a middleman that connects its users to lending companies who are affiliated with them.Eligibility
To get access to their services, you should reside in Canada and must be 18 years old or above. Credit score ratings are not a requirement from loan approval Al on the site. They collect personal information from their users to help them serve you better.Fees and Payments
The minimum interest rate for their loan options starts at 10%; some options go up to 46.96%. The payment option on the site is flexible. You can choose bi-weekly, weekly, or monthly payments, depending on your chosen lender. Loan Connect has payment penalties such as prepayment, late payment, and more, depending on your chosen lender. They fund their users within 48 hours of loan approval.
Select a loan offer that’s right for you and the funds will be deposited into your bank account via direct deposit. Investors will have the opportunity to fund your loan, which is done anonymously.Changing the Game
goPeer charges borrowers with one single origination fee, the amount of which is dependent on how much you would like to borrow. There are no early repayment fees or hidden costs for taking out a peer to peer loan on goPeer. goPeer is able to offer better rates to borrowers than traditional lenders while allowing everyday Canadian investors to access consumer credit as an asset class.
Mogo is a fintech company regulated by FINTRAC that began operation in 2003. They features free credit score monitoring and early prepayment on Mogo has no penalty fee. This service is a good option for clients who have ongoing mortgage loans or other debts with Mogo.Loan Types
Once you have completed your registration with Mogo, you can access a personalized dashboard. Here you can see the different types of loans you can apply for on the site. Mogo loans are subdivided into two, namely, Mogo liquid and Mogo mini. Mogo liquid loans have a 5-year loan term, while the Mogo mini loans have a 1-year loan term.
Consolidated Credit Canada is a non-profit organization that provides debt counselling services to Canadians. As a start, consumers who join Consolidated Credit Canada get access to a free credit counsellor.Reputation
Having been in business since 2005, Consolidated Credit is dedicated to assisting customers in meeting their credit, debt, and financial obligation consolidation goals. The importance of education to one's economic success is widely acknowledged by the firm. Credit counselling, debt consolidation, and lessons on budgeting are all part of the service they offer.Fees
Debt management services through Consolidated Credit Canada are offered for a cost. However, the initial consultation is free. Consolidated Credit Canada incorporates its monthly costs into the payment you make toward your debt, and the amount is dependent on your financial situation and monthly budget.Who it's for
Check out Consolidated Credit Canada's credit counselling services if you are having trouble making your credit card payments and would want to reduce your interest rate.
Consolidated Credit has been providing its services as a nonprofit credit counselling agency for over 28 years. There have been over 10.2 million people who have used their debt relief service, and they have saved over $9.75 billion in the process.Reputation
Consolidated Credit offers a number of debt relief options, including a debt management program, debt negotiation, and debt consolidation services, to help clients better manage and repay their obligations.Who it's for:
If you're behind on your mortgage payments and worried about losing your home to foreclosure, you can seek help from a housing counsellor.Credit card debt, medical bill collections, utility and service contract arrears, payday and personal loans, and retail shop credit can all be consolidated through the company.Resources
The website offers an abundance of free materials to improve your financial situation. Visit the Consolidated Credit website or call to speak with a certified credit counsellor for free about your debt consolidation and repayment alternatives.
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You can typically get from $100 - $50,000 for a personal loan amount in Canada. The personal loan amount that you are eligible to be approved for will be determined by your lender partner at the time the agreement is determined.
When you take out a personal loan, your credit score will be impacted slightly in the short-term. So if you need your credit score to be at its best, consider waiting a bit. However, if a personal loan will help you to make payments on your existing debts on time, the personal loan will prevent your credit score from dropping due to other reasons in the long-term.
When you apply for a loan the lender you are matched with assesses to decide your loan interest rate. The lender will look at your credit history, the debt that you already have, the monthly income you have available to repay the personal loan, and the loan amount and term you’ve requested.
You are already taking the first steps to saving on personal loans. When you apply with Comparewise, we automatically match you with the best deal for your situation.
Personal loans can be used for almost anything, such as a car purchase, wedding, or consolidation of other debts you may have.
Before agreeing to a personal loan deal, make sure that the repayment is affordable for you. Take into account the monthly payment amount and the length of time you’ll be paying back the loan. Make sure you can fit this extra expense into your budget comfortably.