By 2012 our president, Scott Satov, had spent two years trying to build an online mortgage brokerage 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 they set out 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 platform.
Our first office
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.
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.
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.
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.
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.