Available in seven provinces, iCash is an online source of fast, small loans that can be used for any emergency. Approved applications are processed within the same day and no documentation is required before the transfer of your funds. You can borrow up to $1,500 with iCash. Every time you pay the loan back following the agreed-upon deadline, you become a more reputable borrower. The increased trust allows you to borrow more each time. iCash uses a Trust Rating System, an algorithmic function that determines your merit as a borrower.
If you’re looking for an open-ended line of credit with credit limits up to $15,000, Fora is the best choice. Fora’s line of credit lets you withdraw funds from your available credit, and repay and redraw as needed. This makes it an excellent option for those seeking flexibility and quick access to cash as needed.Moreover, interest rates start as low as 19.9% and are only charged on the amount you withdraw.
Spring Financial is an online consumer lending company that offers innovative financial and credit-building solutions designed to give Canadians the opportunity to build credit, save money and borrow responsibly.With many Canadians struggling with high-interest debt and limited financing options, Spring Financial strives to provide Canadians with affordable and accessible financial products that can help them achieve greater financial freedom. Among their growing suite of smart money solutions, Spring Financial offers $1,500 cash advances, personal loans up to $35,000, and a credit-building program that helps you build credit and save money.
Fairstone is a great choice for consumers looking for loans with affordable payments that meet their needs and budget. As Canada’s leading non-bank lender of personal loans, consumers can get unsecured loans up to $25,000. Homeowners can choose a secured loan (backed by the value of their house) to borrow more money and access lower payments compared to an unsecured loan. Whether you’re looking to consolidate debt into one simple monthly payment, cover unexpected expenses or something else altogether, Fairstone is a great option.
If you’re short on cash, Bree offers cash advances of up to $350 with zero interest. Bree is an online financial platform that provides interest-free cash advances to help consumers avoid overdrafts and NSF fees. Their mission is to be a dependable and accessible financial source that consumers can trust when they need financial support. Moreover, you can access the money you need with Bree without having to worry about credit checks, interest charges or late fees.
The MogoMini line of credit offers Canadian consumers a great personal loan alternative. Borrowers can access up to $5,000, spend what they need when they need it, make the automatic minimum payments, and finally control their own principal payments. This Mogo product is flexible and users can test drive their line of credit for 100 days to see if it’s the right fit. Access their easy online application via your MogoMoney dashboard and get pre-approved in 3 minutes with no impact on your credit.
LoanMeNow offers Canadian consumers quick access to the cash they need. They offer loans up to $1,000 with no credit check required. Funds are deposited directly into your bank account within as little as 24 hours. A short-term loan from LoansMeNow can help you cover the cost of an unexpected expense or tide you over until your next paycheque. Whatever your financial needs are, LoanMeNow’s quick approval time means you’ll be able to get back on track as soon as possible.
SkyCap Financial has been helping Canadian consumers take control of their financial futures since 2013. Their main goal is to provide alternative financing to all Canadians, regardless of their financial past or credit history. They provide fast and easy short-term loans ranging from $500 to $10,000 and approve applicants in as little as 24 hours. Consumers can take advantage of SkyCap Financial’s quick application and a team of experienced individuals who strive to make your experience as smooth as possible. SkyCap Financial bases all their lending decisions on three main factors, current income, credibility, and stability, so they can approve more Canadians, especially those who have been rejected in the past based on credit issues.
Nyble helps users quickly access a line of credit of up to $250 without credit score requirements. This is a good option for anyone who wants to avoid overdrafts or needs a small amount of cash quickly. Approval is instant and funding takes up to 3 days. But if you upgrade to a paid membership for $11.99 a month, you can receive your money within 30 minutes. Nyble reports your payment history to the credit bureau monthly and approves you for large amounts as you build trust with the platform. You can also track your credit score, earn reward points for improving your score, and access other features such as credit monitoring and digital identity theft protection.
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While Saskatchewan’s most populated city is Saskatoon, the capital city of Regina is home to its fair share of credit users. If you’re one of those lucky residents, one credit product that you can use to your benefit is the personal loan. Once approved, your loan will be deposited into your bank account. You’ll then repay the loan through scheduled payments with an interest rate (what your lender charges for their services). After you’ve repaid your personal loan in full, you’re free to apply for another or move on. Sound appealing? If so, keep reading, because Loans Canada has some tips that you might find useful when applying for a personal loan in Regina.
All credit products have advantages and disadvantages that make them appropriate or inappropriate for various financial situations. Since credit cards are one of the easiest, most convenient products to use, you might be wondering if they’re a more appropriate payment method than personal loans. They can be, under certain circumstances. However, as we said, every credit product has its downsides.
Credit Cards Are Best Suited For These Types of Situations:
Paying for less pricey, unnecessary expenses (clothes, restaurant food, etc.)
Benefitting from certain perks (roadside assistance, reward points, etc.)
Using your minimum monthly payment to avoid late penalties
Building credit quickly by making your payments on time and in full
Reducing your loan schedule with the option of more frequent payments (weekly, bi-weekly, etc.)
Ever wonder what the true cost of borrowing is? Take a look at this infographic.
Are there Other Costs a Personal Loan in Regina Can Help With?
Since your more necessary expenses can be costly and continuous, a personal loan might be a better way of paying for them, depending on the size of the loan itself and your lender’s policies. Here are a few more recommended costs that are easily covered by a personal loan in Regina:
Lengthy renovations and additions on your home or secondary residence
Financial emergencies and other unexpected costs
Medications and elective surgeries
Important home or vehicle-related repairs
New furniture, appliances, and other high-cost items
What’s the difference between a personal loan and a line of credit? Find out here.
What Will Regina Lenders Inspect When I Apply?
Every lender has a different way that they go about approving or denying loan applications, making the process a little hard to predict sometimes. However, generally speaking, lenders want to be certain that you can afford to pay them back in full by the end of your payment plan, which you’ll negotiate and confirm with them. For that reason, most Regina lenders will inspect elements such as:
Your cosigner’s financial strength (if you’re using one)
Can I Prepare Myself for the Process?
No matter what your income or credit looks like, it’s best to be well prepared for the application and financial inspection process so that the whole event goes by without a hitch. The size of the loan and the interest rate you receive will also depend on your financial strength and credit health. So, you can prepare yourself better by:
Budgeting properly and saving as much extra money as you can
Increasing your income or get a second job, if possible
Finding a legitimate lender that offers good interest rates and payment terms
Request an annual copy of your credit report
Check your report for errors and dispute them if you find any
Updating and categorizing relevant personal or financial documents
Read this before you decide to apply for a personal loan in Regina.
How Are My Personal Loan and My Credit Score Connected?
In Regina and the rest of Canada, credit scores range from 300-900 and represent your actions as a credit user. If you pay a credit account on time, your score goes up and vice versa. For the most part, a score of 650 or higher shows your lender that you have good credit, earning you better approval chances and lower interest rates. While a lower score is often acceptable, higher interest rates will apply because the worse your score is, the riskier your lender will consider you to be.
Check out this infographic to find out how bad credit affects your daily life.
That being said, you can actually use your personal loan in Regina to grow and improve your credit score when you:
Choose a lender that relays your loan activity to at least one of our country’s credit reporting agencies (Equifax or TransUnion)
Only apply for a loan that you can easily pay for with your regular income
Stay away from non-essential expenses, like consumer debt
Cover all your loan payments on schedule and never default
Still don’t understand your credit score or credit rating? Take a look at this.
Applying For The Right Personal Loan in Regina
For Regina credit users, including yourself, there are no better sources than the ones that Loans Canada can connect you with. Apply below and the benefits of your customizable personal loan will be right around the corner!
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