How To Renegotiate A Loan When Your Credit Improves
Posted on June 23, 2022
If you've improved your credit score, you may be able to renegotiate your loan rate and terms with your lender. Find out how to renegotiate your loan.
About Loans Canada
Loans Canada: The Country's Best Loan Comparison Platform
Who We Are
About Loans Canada
Loans Canada is Canada’s first loan comparison platform and 100% Canadian-owned and operated.
Our goal is to provide you with information to help you find the best products, the best providers and the best rates. We encourage you to check out our privacy policy to learn more about what happens with your data when you submit a request for a product on our website (it’s not long, we promise!).
Psst! Students! Check out our Financial Literacy Scholarship.
Our Story: Canada’s Loan Comparison Platform
By 2012 Scott Satov, President of Loans Canada, had spent two years trying to build an online mortgage brokerage (Mortgages Canada, a separate entity) to make it easier for Canadians to find financing for their homes online. A couple of years into the project, it became clear to him that there was a large number of Canadians searching for loans online who had nowhere to turn to for financial help. At that time there was no visibility on the options available to many Canadians with credit issues, and most of these consumers were relying too heavily on payday loans and getting stuck in a cycle of debt they couldn’t get out of.
Scott brought on Cris Ravazzano as Chief Technology Officer and together they built a platform to provide Canadians with a new way to find the loans and financial products they were looking for. On July 1, 2012, Loans Canada was born: the country’s first and today’s largest online loan search and comparison platform.
Empowering Canadians to make better borrowing decisions with
financial literacy and transparency
Our idea was launched in Cris’ home basement, in the west island of Montreal. We started small, focused on creating a user-friendly platform and insightful educational content for our users so that they could make better informed decisions about their finances. Over the years we have continued to develop our technology, hired new staff that share our mission, expanded our product suite and today we are headquartered in Toronto. However, one thing that has stayed constant is our focus on providing our users with reliable financial resources.
Initially, our goal was to provide consumers with a more affordable and manageable alternative to payday loans. We now offer dozens of products to Canadians all across the country with a particular emphasis on those who are dealing with credit problems. Our loan search platform allows a consumer to search for the products they want, compare lenders and service providers, and leave comments and ratings to help future borrowers make the right choices.
Connect
Through our loan search platform, we can connect any Canadian, regardless of their financial past or credit history, with a lender or service provider that meets their needs. Choosing Loans Canada means you only need to submit one application to get instantly matched with multiple offers.
Educate
In addition to providing consumers with greater access to alternative finance options, one of our main goals is to educate Canadian’s and empower them to make financial decisions that work best for their lives. Through the content we publish in our learning center and on our blog, we encourage consumers to take back control of their finances and make responsible borrower decisions that will not only solve a financial problem today but help build a better financial future.
Partnerships
Because we aim to match all Canadians with an alternative option that meets their needs, we’re partnered with Canada’s largest financial institutions and we’re proud to offer our customers access to the largest lender network in the country.
Are you interested in partnering with us? Visit our partnerships page to learn more about how we can work together.
Data & Privacy
We know that your privacy is important to you. That’s why our website is encrypted with SSL and we only collect the information needed to match you with the best possible service provider. Loans Canada protects your data and will never share it without your consent. To learn more about our data protection policies, view our privacy policy.
Our Mission
Our goal is to make financing accessible for all Canadians. We believe all consumers deserve a second chance, regardless of their credit rating. With our platform and educational resources, we aim to educate and empower Canadians so that they can make better financial decisions.
Core Team
Scott Satov
Founder & President
Passionate about personal finance, Scott is a serial entrepreneur and has been involved with financial technology companies for over 15 years. He co-founded VersaPay (TSX:VPY) and launched Loans Canada, the nation's first and largest personal loan search platform, in 2012. Scott holds CA and CFA designations.
Cris Ravazzano
Technology & Marketing
Cris graduated from the Computer Science Technology program at John Abbott College in 2009 and obtained a Bachelor of Commerce from the John Molson School of Business in 2015. He has been working in web technologies and web marketing for over 10 years. He manages Loans Canada's technology and marketing efforts.
Caitlin Wood
Editor
Caitlin is a graduate of Dawson College and Concordia University. She has been working for Loans Canada for over eight years writing about the personal finance issues that Canadians face on a daily basis. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.
Alberto Arredondo
Web Developer
Alberto is a software Engineer who graduated from Universidad del Valle de México in 2013. He is experienced in developing projects for web-based cadastral software. He enjoys working with various programming languages and technologies such as Java, Javascript, PHP, PostgreSQL, Laravel, Qlik and Xamarin. Alberto is passionate about technology.
Priyanka Correia
Marketing Coordinator
Priyanka is a marketing major who graduated from John Molson School of Business in 2018. She has experience in writing about personal finance, media outreach, and SEO. She is passionate about marketing and educating Canadian consumers about how to take control of their financial lives.
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