LoansCanada is the first loan comparison website in Canada. It is entirely run and owned by Canadians. They provide you with information to help you find the best products, services, and rates.
Making credit available to all Canadians is LoansCanada’s goal. Regardless of their credit score, we think all consumers deserve a second chance. They want to enlighten and empower Canadians through their platform and educational materials so they can make better financial decisions.
How Does Loans Canada Work?
LoansCanada works to provide customers with the best options. When you submit your application, they provide you with several options so you can choose the best one for you.
Here is the application procedure:
- Choose your service: Loans Canada has a solution for you whether you need money, want to build credit, get out of debt, need to locate a broker, or want to expand your business. To begin, pick the option that best meets your needs.
- Apply: Start by applying to Loans Canada. It’s quick, safe, and simple to apply. They only ask for the data necessary to bring you the best offers.
- Get offers: To assist you in achieving your objectives more quickly, LoansCanada technology automatically searches through its supplier network and calls or emails you the top offers from third parties.
Loans Canada Loan Products
Personal loans are flexible forms of finance that can be used for any need, such as a wedding, car repair, or an unexpected medical bill. Depending on the provider, you can obtain personal loans with customizable terms and rates ranging from $500 to $35,000. But, your credit score and entire financial situation will determine how much you qualify for. Because they can be secured or unsecured and have variable or fixed interest rates, these loans are a flexible financial option.
Debt Consolidation Loans
An unsecured or secured loan used to pay off any high-interest debt you may have is referred to as a “debt consolidation loan.” To create a single, more manageable, and affordable loan, existing loans are combined or consolidated. The ultimate goals are to save money on interest payments and, ideally, get out of debt more quickly.
Like any other sort of credit, a debt consolidation loan operates similarly. In this instance, though, you’ll use the money you get after being accepted to settle any high-interest debt you may have. Any qualified debt, including credit card debt and personal loan debt, may be included in this. Remember that a debt consolidation loan cannot be used to pay off some debts, such as mortgages and vehicle loans.
Bad Credit Loans
A loan for people with terrible credit is exactly what it sounds like a loan for people who are currently having credit problems. What should you do if your credit prevents you from being approved for the loan you want and need? Having flawless credit is not always possible. Apply through Loans Canada. Regardless of their clients’ credit histories, they take pleasure in being able to match them with the financial solutions they want.
You can take out a guarantor loan in Canada and repay it over time. You will require a cosigner, such as a dependable family member or friend, to sign your application. These loans often have amounts of $10,000 or less and may have higher interest rates. Those who apply for them oftentimes have poor credit or a spotty financial history, which is the cause of this. It may make it difficult for them to obtain conventional personal loans.
It’s tough to lose your job, particularly financially. However, there are options available to you if you require additional funds to pay your rent, food, or other expenses this month. ranging from Employment Insurance (EI) loans to EI benefits.
In fact, a large number of Canadian lenders provide EI loans to citizens who are eligible for EI or other government benefits. If you’re struggling with debt, you may still be able to apply for a personal loan, especially if you have good credit.
No Bank Verification Loans
A No-Bank Verification loan is exactly what its name implies: a loan where the lender doesn’t need to verify any of the borrower’s financial information. In essence, it is possible to obtain a loan without having to present any bank documentation pertaining to your finances, possessions, debts, or bank account.
No Credit Check Loans
No credit check loans from Canada are a great alternative to traditional loans from banks and other major financial institutions. To determine your creditworthiness, no credit check lenders will not check your credit report; instead, you will need to present another form of identification to show that your current financial status can support further funding.
No Employment Verification Loans
Simply put, you are not required to present any paperwork or employment verification in order to apply for these loans. No pay stubs or employment letters from your boss are required in order to apply.
It goes without saying that borrowers who look for loan choices like these don’t have regular 9–5 jobs or currently have no job. A variety of online lenders offer these loans to borrowers with unusual employment circumstances.
A private loan is a loan from a private lender. A private lender is essentially any lender who is not connected to or affiliated with an established financial organization. These private lenders typically have far more flexible lending conditions and are not as restricted by regulation. They frequently take on clients with bad credit that banks and other conventional lending institutions turn away.
A private lender could be a business, a group, or even just one person. They provide private loans that function very much in the same way as loans provided by banks or other conventional financial organizations.
Employment Insurance Loans
Regardless of your work status or financial state, unanticipated events and catastrophes can happen to anybody. Hence, even if you receive Employment Insurance (EI), you could still require a loan to pay for an unexpected expense. The fact that Employment Insurance is not a typical source of income, though, may make getting loans on that basis seem unfeasible.
How to Apply for Loans on LoansCanada
Follow this guide to apply for
- Go to the LoansCanada website.
- Click on Loans
- Select the loan type you need.
- Select the monthly income range, province, employment status, and credit range.
- Choose your preferred lender.
Loans Canada Contact Details
170-1201 University Ave,
4000 Notre Dame W,
Phone number: 1 (877) 995-6269
Working Hours: Mon – Fri: 9:00 AM to 5:00 PM (EST)