Filters
- Amount
- Up to $35,000
- Rate
- 9.99% - 46.96%
- Term
- 9 - 78 Months
- Amount
- Up to $60,000
- Rate
- 19.99% - 39.99%
- Term
- 6 - 120
Steps To Get A Personal Loan In Calgary
If you’re looking to get a personal loan in Calgary, Alberta there are steps you can to help you get a loan.
Step 1: Get Pre-Approved
Before applying for a personal loan, get pre-approved with multiple lenders first. This will allow you to compare various loan offers based on your financial situation. Moreover, the pre-qualification process is often instant and only requires a “soft” credit check, so it won’t negatively impact your credit scores.Step 2: Choose A Lender
Compare your loan offers and choose one that comes with affordable rates and favourable terms. Be sure to also compare funding times if you need the cash urgently.Step 3: Gather All Required Documents And Apply
You’ll need to provide your lender with specific documents to verify your creditworthiness and identity. You can upload these documents and submit them electronically with your application. This may include a government-issued photo ID, bank statements, pay stubs and other related documents. Be sure to read over the application to make sure all the information is accurate.Step 4: Wait For Approval
Once you’ve submitted the application you should receive a response shortly after. If approved, the funds will be deposited into your account within 24 to 48 hours (via direct deposit or e-Transfer), depending on the lender.What Do You Need To Get A Personal Loan In Calgary?
- Name, date of birth, contact information
- 1 or 2 government-issued IDs (1 photo)
- Social Insurance Number (SIN)
- Proof of employment (income, employers name, job title)
- Loan purpose
- 3 months' worth of bank statements
- Bank account details (for direct deposit and withdrawal of payments)
Instant Bank Verification For A Personal Loan In Calgary
Instant bank verification services are frequently utilized by online lenders in Calgary to quickly validate the identification and income of individuals applying for personal loans. Ensuring that applicants have sufficient funds for repayment and an active bank account is an important part of the loan application process.
Bank verification is safe and simply allows the lender to get a temporary copy of the applicant’s bank statement. Some of the bigger service providers are as follows:
- Plaid
- Flinx
- Yodlee
How To Improve Your Chances Of Getting A Personal Loan In Calgary?
Your personal loan approval chances and interest rate will depend on various elements, like your lender’s policies and your credit score. Here are some factors that can help improve your chances of approval:
- Being employed for 3 to 6 months.
- Ensuring your credit score meets the lender’s minimum requirements
- Ensuring your take-home pay is high enough to afford your personal loan costs
- Offering security/collateral
- Getting a co-signer
Can You Get A Personal Loan In Calgary On Employment Insurance?
Yes, it’s possible to get a loan while receiving EI benefits. Although lenders typically prefer applicants to have a stable job and an adequate income, certain lenders may approve alternative sources of income such as EI, disability, Canada Child Benefit (CCB) payments, and other nontraditional income sources.
However, it’s important to note that the interest rate will be considerably higher if you’re presently getting EI. This is because collecting EI instead of earning a traditional income increases the risk for the lender.
Places To Help You Get A Job In Calgary
Numerous staffing agencies in Calgary are available to assist unemployed Canadians in getting a job. These firms operate by connecting individuals seeking employment with companies in need of filling job positions.
Here are a few job agencies in Calgary to help you get a leg up on your quest for a new job:
Robert Half
The Calgary branch of Robert Half is highly experienced in the local job market and can quickly pair job seekers with employers in the city looking to fill job roles based on skills. The job board at Robert Half includes both remote and on-site jobs to suit every worker’s needs. The team of local specialists is always working diligently to connect top employers with talented temporary or full-time candidates.
Some of the features of Robert Half include the following:
- Online job board
- Interview guidance
- Salary guidance
- Free online training
- Career advice
Adecco
Adecco recruits job seekers to fill temporary and permanent roles in the sales, professional, administrative, transportation, manufacturing, and warehousing job markets. The team of recruiters prepares future employees by assisting with resume writing, interview preparation, and becoming meaningful employees.
Adecco offers the following services:
- Online job board
- Job fair
- LinkedIn profile tips
- Webinars
- Resume help
Prime Staffing
Prime Staffing offers part-time and full-time roles for all types of shifts. The company’s online job board is filled with open positions in a variety of labour markets, including those with full benefits. The team at Prime Staffing takes the time to understand each applicant’s skills and objectives to ensure the most suitable match with employers.
Services at Prime Staffing include the following:
- Online job board
- Employee education
- Skill enhancement
- Certifications
Where Can You Find Calgary Government Employment Assistance Offices?
If you’re looking for employment services offered or funded by the government, you can use 211 to help you find ones in your area. You can also find specialized employment services and non-profits in Calargy to help you get a job.
- CRIEC – 105 12 Avenue SE, Calgary, AB, T2G 1A1
- Immigrant Services Calgary: Employment Bridging Services – 910 7 Avenue SW, Calgary, AB, T2P 3N8
- Retail Ready by WINS – 1003 11 Avenue SW, Calgary, AB, T2R 0G1
- Calgary Immigrant Women’s Association (CIWA) – 138 4 Avenue SE, Calgary, AB, T2G 4Z6
- Making Changes Employment Association of Alberta – 6516 1A Street SW, Calgary, AB, T2H 0G6
What Are The High-Cost Credit Personal Loan Regulations In Calgary?
| Max Interest Rate | While Alberta doesn’t have any regulations on the interest a lender can charge, there are federal regulations. All lenders must respect the federal Criminal Code interest rate limit of 60% (APY), which is equivalent to 47% (APR). |
| Fee Caps | While there are no provincial caps on fee charges, there are federal rules. The total fees, cost and interest of a high-cost personal loan cannot be more than the criminal interest rate of 47% APR. |
| Licensing Requirements | All high-cost credit lenders in Alberta must be licensed. |
| Debt Collection Rules | High-cost lenders in Alberta cannot do the following when trying to collect outstanding debts: - Threaten or harass borrowers - Call third parties regarding borrowers - Call borrowers between 10 pm and 7 am |
Financial Assistance Offered In Calgary, Alberta
| Financial Resource | Link |
| Alberta Family Support For Children With Disabilities (FSCD) Program | Learn More |
| Alberta Aids To Daily Living (AADL) | Learn More |
| Alberta Seniors Benefit | Learn More |
| Assured Income For The Severely Handicapped (AISH) | Learn More |
| Alberta Child And Family Benefit (ACFB) | Learn More |
| Social Assistance In Alberta | Learn More |
Other Financial Assistance Programs In Calgary
In addition to job agencies in Calgary to help people find employment, several other services are available that can provide some financial assistance:
Rent Assistance
The Calgary Housing Company offers a rent supplement to residents of Calgary who need help covering the cost of housing. The program includes a long-term rent assistance benefit for those in need, as well as a temporary rent assistance benefit for employed Calgary residents and job seekers. If you’re a renter in Alberta or thinking about becoming one, make sure you familiarize yourself with the Landlord and Tenant Act.
The Mustard Seed Homeless Shelter
The Mustard Seed is a shelter in Calgary that provides a safe place for the homeless and those facing eviction. The goal is to prevent homelessness and provide those who are on the street with a secure place to rest. At the same time, the centre helps individuals make transformative changes in their lives so they can become independent and healthy members of society.
Calgary Food Bank
Those who are unable to keep up with the cost of groceries can access the Calgary Food Bank. It serves as an emergency food bank and go-to centre for food support and relies solely on the help of the surrounding community.
Alberta Utilities Commission (AUC) Utility Assistance Program
Every year, the AUC launches its Winter Utility Reconnection Program to help customers in Calgary avoid being disconnected from their utilities during the colder months of the year. The program connects individuals experiencing financial difficulties with organizations to receive aid to ensure their electricity stays on and their homes are heated.
Residential Access Modification Program (RAMP)
This program helps lower-income residents of Calgary with mobility issues to make the necessary changes to their homes and make them more accessible. Those who qualify for the program can get up to $7,500 in one year or up to $15,000 in a 10-year period to put towards modifying their homes.
Where Can You Find Consumer Protection Offices In Calgary?
Businesses in Calgary have rules to follow when it comes to how they treat consumers. The provincial Consumer Protection Act lists specific regulations that businesses must comply with, which are put in place to protect customers and guarantee that all business dealings are conducted fairly.
If you feel that your consumer rights are being infringed upon, you can reach out to a representative from the Alberta Consumer Contact Centre at 1-877-427-4088 to file a complaint or report any nefarious business practices anonymously. You can also speak with a representative to get familiar with your rights and obligations in Calgary’s marketplace.
