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Loans Surrey

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Written by Bryan Daly

Best Loans Surrey (Online) 2020

Lender directory

Compare the best lenders in this region

Provider Loan Amount Rate Term (Months) Rating
FlexiLoans
$200 - $1,200 25% - 32%  -
$200 - $1,200
PayBright
- 0+ 2 - 60
-
Score-Up
$49.99 - $99.99 0% 12
$49.99 - $99.99
LendCare
- - Up to 60
-
ECN Capital
- - -
-
SimplyBorrowed
$500 - $5,000 - 12 - 24
$500 - $5,000
Pebble Cash
$350 - $1,000 - 2 - 12 weeks
$350 - $1,000
Refresh Financial
$1,600 - $25,000 9.47% - 20.07% APR 36 - 60
$1,600 - $25,000
GoPeer
$1,000 - $25,000 7.5% - 31.5% APR 36 - 60
$1,000 - $25,000
North’n Loans
$100 - $1,500 - -
$100 - $1,500
MDG
Up to $3,200 - -
Up to $3,200
Loan or Credit
$100 - $25,000 +4.9% -
$100 - $25,000
Instant Payday Canada
- 15% - 19% -
-
Flexiti Financial
- Up to 35% -
-
FinanceIT
$500 - $100,000  6.99% - 14.99% 12 - 240
$500 - $100,000
Diamond Financial Services
- - -
-
Climb
1800- 2900  15.99% 23 - 36
1800- 2900
Pylo Finance
$500 - $15,000 15.99 - 39.99% 6 - 60
$500 - $15,000
Fresh Start Finance
Up to $15,000 29.99% - 46.96% 9 - 60
Up to $15,000
Marble
Up to $20,000 19.44% and 31.90% 36 - 84
Up to $20,000
Money Mart
$1,000 - $15,000 19.90% - 46.90% 12 - 60 
$1,000 - $15,000
Private Loan Shop
$500 - $50,000 15 - 30% -
$500 - $50,000
Progressa
$1,000 - $15,000 19% - 46.95% 6 - 60 
$1,000 - $15,000
My Canada Payday
Up to $1,500 15% - 19% 14 days
Up to $1,500
Mr. Payday
$100 - $1,500 15% - 17% 14 -31 days
$100 - $1,500
Money Provider
$500 - $1,000 28% - 32% -
$500 - $1,000
Loan Express
- - 14 days
-
Loan Away
Up to $5,000 19.9% - 45.9% APR 6 - 36
Up to $5,000
Lendful
$5,000 - $35,000 9.9%+ APR 36 - 60
$5,000 - $35,000
LendDirect
Up to $15,000 19.99% APR Open-end
Up to $15,000
Health Smart Financial Services
$300 - $25,000 7.95%+ 36 - 60
$300 - $25,000
GoDay
$100 - $1,500 - 14 days
$100 - $1,500
iCash
Up to $1,500 15% - 23% -
Up to $1,500
Focus Financial Inc.
Up to $1,500 Up to 59% APR 14 days
Up to $1,500
FlexFi
$2,500 + - -
$2,500 +
Eastern Loans
$500 - $1,000 28% - 32%  3 -5
$500 - $1,000
DMO Credit
$300 - $1,000 38% APR 3 - 4
$300 - $1,000
Capital Cash
$100 - $1,000 546% APR 14 days
$100 - $1,000
Credit 700
$500 - $1,000 28% - 32%  4 - 5
$500 - $1,000
Credit Club
$100 - $1,500 90% - 390% APR 14 days
$100 - $1,500
Credit2Go
$250 - $1,000 29% APR 3 - 4
$250 - $1,000
Ledn
$500 - $1,000,000 12% 12
$500 - $1,000,000
Amber Financial
$1,000 - $50,000 4.6% – 49.96% 3 - 60 
$1,000 - $50,000
Affirm Financial
$300 - $7,500 29.9% - 39.9% 6 - 60
$300 - $7,500
310 Loan
$50 - $1,500 - 14 days
$50 - $1,500
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
Ferratum
$2,000 - $10,000 18.9% - 54.9% 12 - 60
$2,000 - $10,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Fairstone
Up to $35,000 26.99% – 39.99% 6 - 60
Up to $35,000
Lending Mate
$2,000 – $10,000 34.9% – 43% 12 - 60
$2,000 – $10,000
Consumer Capital Canada
$500 - $12,500 19.99%+ 12 - 60
$500 - $12,500
Lamina
Up to $1000 30% 3 - 5
Up to $1000
Loans SOS
Up to $5,000 60% 6 - 60
Up to $5,000
514 Loans
Up to $3,000 22% - 35% 3 - 4
Up to $3,000
Cashco Financial
Up to $7,000 - 6 – 60
Up to $7,000
UrLoan
$500 - $2,500 29% - 46.95% 6 - 36
$500 - $2,500
Loan Me Now
$500-$1000 28%-32% 3
$500-$1000
Captain Cash
$500 – $750 28% – 34.4% 3
$500 – $750
BC Loans
$500 – $750 23% - 34.4% 3 – 12
$500 – $750
Urgent Loans
$300 - $1500 27% - 35% 3 - 4
$300 - $1500
easyfinancial
$500 - $35,000 29.99% – 46.96% 9 - 60
$500 - $35,000
Mogo Finance
$300 – $35,000 5.9% to 47.72% 24 - 60
$300 – $35,000
Cash Money
$50 – $10,000 - Up to 62 days
$50 – $10,000
Borrowell
$1,000 - $35,000 5.99% to 29.19% 36 - 60
$1,000 - $35,000
Magical Credit
Up to $20,000 19.99% - 46.8% 6 - 60
Up to $20,000
Speedy Cash
Up to $1,500 15% - 23% 14 days
Up to $1,500
Provider Loan Amount Rate Term (Months) Rating
Core Capital Group Inc
- - -
-
BarterPay
- 0.9% - 12% 6 months - 5 years
-
Clearbanc
$10,000 - $10,000,000 6% - 12.5% -
$10,000 - $10,000,000
SNAP Financial Group
- - -
-
GE Capital
- - -
-
We Can Financial
- - -
-
Wajax Equipment
- - -
-
Key Equipment Financing
- - -
-
Corl
$10,000 - $1,000,000 - -
$10,000 - $1,000,000
Yellowhead Equipment Finance Ltd
- - -
-
Specialty Truck Financing
- - -
-
Travelers Financial
- - -
-
Peel Financial
- - -
-
Pioneer Financial Services
$5,000 - $1,000,000 - -
$5,000 - $1,000,000
Polaris Leasing
- - -
-
Patron West
- - -
-
Payability
up to $250,000 - -
up to $250,000
Planet Financial
- - -
-
Rise
Up to $10,000 - -
Up to $10,000
Merchant Growth
$5,000 - $500,000 - 6 - 18 months
$5,000 - $500,000
Onesta
- - -
-
Lionhart Capital
$10,000- $30,000,000 Min 4.95% -
$10,000- $30,000,000
Lift Capital
- - 12 - 120
-
Leaseline
- - 24 to 60
-
Lease Direct
- - -
-
John Deere
- - -
-
Hitachi Capital Canada
- - -
-
Guardian Leasing
- - -
-
Export Development Canada
- - -
-
Essex Lease Financial Corporation
- - -
-
Equilease
- - -
-
Alliance Financing Group LTD
$5,000 - $150,000 15% + 6 - 24
$5,000 - $150,000
CanaCap
Up to $250,000 - -
Up to $250,000
CLE Capital
- - -
-
Canada Equipment Loan
- - -
-
SharpShooter Funding
$5,000 - $150,000 5.49% - 22.79% 12 - 60
$5,000 - $150,000
First West Credit Union
$500,000 - $10,000,000 - -
$500,000 - $10,000,000
Meridian Credit Union
Up to $35,000 - -
Up to $35,000
Laurentian Bank of Canada
Up to $250,000 - Up to 10 years
Up to $250,000
HSBC Bank Canada
- - -
-
National Bank
Up to $1,000,000 - -
Up to $1,000,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - Up to 15 years
$10,000+
Scotiabank
Up to $1,000,000 -   Up to 15 years
Up to $1,000,000
Bank of Montreal (BMO)
Up to $500,000 - Up to 10 years
Up to $500,000
Royal Bank of Canada (RBC)
$5,000 - $10,000 - Up to 7 years
$5,000 - $10,000
CWB National Leasing
$3,500+ - -
$3,500+
Money in Motion
$10,000 - $1,000,000 4% - 14% 12 - 84
$10,000 - $1,000,000
Lease Link
Up to $75,000 - Up to 18
Up to $75,000
FundThrough
$500-$50,000 0.5% weekly 12 week cycles
$500-$50,000
Econolease Financial Services Inc.
$1,000 - $1,000,000 6% - 20% -
$1,000 - $1,000,000
Easylease Corp
Up to $5,000,000 4.5% 24 - 72
Up to $5,000,000
Dynamic Capital
- - -
-
Capify
$5,000 - $200,000 - -
$5,000 - $200,000
Canadian Equipment Finance
$50,000 - $12,000,000 - 24 - 96
$50,000 - $12,000,000
Capital Key
$5,000 - $1,000,000+ - 1 - 60
$5,000 - $1,000,000+
Cashbloom
$5,000 - $1,000,000 - 3 - 24
$5,000 - $1,000,000
BFS Captial
$5,000 - $5,000,000 - 4 - 18
$5,000 - $5,000,000
BDC
Up to $100,000 6.05% + 60
Up to $100,000
Baron Finance
$10,000+ 18% - 22% -
$10,000+
B2B Bank
$10,000 - $300,000 4.70% - 5.45% -
$10,000 - $300,000
AOne Financial Solutions
Up to $5,000,000 5% - 10% 12 - 60
Up to $5,000,000
Borrowell
$1,000 - $35,000 5.6% – 25.5% 36 – 60
$1,000 - $35,000
iCapital
$5,000 - $250,000 - 3-18
$5,000 - $250,000
Lendified
$5,000 - $150,000 - 3 - 24
$5,000 - $150,000
IOU Financial
$5,000 – $100,000 15% + 12 – 18
$5,000 – $100,000
Company Capital
$5,000 – $100,000 Starting at 6.87% 3 – 18
$5,000 – $100,000
OnDeck
$5,000-$250,000 8% - 29% APR 6 - 18
$5,000-$250,000
Lending Loop
$5,000 – $500,000 Starting at 5.9% 3 – 60
$5,000 – $500,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Thinking Capital
Up to $300,000 - -
Up to $300,000
Provider Loan Amount Rate Term (Months) Rating
Alphera Financial Services
- - -
-
Go Auto
- - 12 - 96
-
Eden Park
- - -
-
WeFinanceCars
- + 4.9% -
-
Walker Financial Services
- - -
-
Rifco
- - -
-
National Powersports Financing
- - -
-
LMG Finance
- - -
-
Loans2Go
- - -
-
iA Auto Finance
- +8.99% -
-
Gamache Group
- - -
-
Royal Bank of Canada (RBC)
$5,000 - $10,000 - up to 84
$5,000 - $10,000
Laurentian Bank of Canada
Up to $250,000 - 12 - 60
Up to $250,000
National Bank
Up to $1,000,000 - up to 96
Up to $1,000,000
Desjardins
Up to $100,000 - 6 - 96
Up to $100,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - 12 - 96
$10,000+
Scotiabank
Up to $1,000,000 - up to 96
Up to $1,000,000
Daimler Truck Financial
- - up to 72
-
DealerPlan Financial
- - -
-
Coast Capital
- - -
-
Canada Auto Finance
$5000 - $45,000 4.90 % - 29.95% APR 36 - 72 
$5000 - $45,000
Credit River Capital Inc
- - -
-
Capital Trust Financial
- - -
-
Canadian Truck Loan
- - -
-
Canada Car Loans
- - -
-
Car Loans Canada
$7500 - $59,995 3.95% + 12 - 96
$7500 - $59,995
Car Creditex
- Up to 49.9% -
-
Auto Capital Canada
- - -
-
Carfinco
- - Up to 84
-
Canada Drives
$500 - $35,000 $29.99% – 46.96% 9 - 60
$500 - $35,000
Prefera Finance
Up to $30,000 - -
Up to $30,000
Approve Canada
- - -
-
2nd Chance Automotive
- 4.2%+ -
-
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Splash Auto Finance by Rifco
Up to $50,000 - -
Up to $50,000
Carloans411
$5,000 – $40,000 - 12 – 72
$5,000 – $40,000
AutoArriba
- - Maximum 84
-
Provider Loan Amount Rate Term (Months) Rating
Instant Loans Canada
$1,000 - $35,000 - 24 - 60
$1,000 - $35,000
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
BHM Financial
Up to $25,000 - 12 - 60
Up to $25,000
Provider Loan Amount Rate Term (Months) Rating
Mortgage Alliance
- 2.74% - 6.30% 12 - 120
-
Paradigm
- - -
-
Verico
- - -
-
True North Mortgage
- 2.64% - 4.45% 12 - 120
-
Tangerine
$50,000+ 2.74% - 3.49% 12- 120
$50,000+
Think Financial
- - 36 - 60
-
Turnedaway
- - -
-
REICO
- - -
-
Motusbank
- 2.79% - 6.00%  6 - 60 
-
Mortgage Architects
- 2.74% - 3.70% 6 - 120
-
IntelliMortgage
- - -
-
Invis
- 2.69% - 3.95% 6 - 120 
-
Equitable Bank
$25,000 - $800,000 4.59% - 5.64% 6 - 60
$25,000 - $800,000
Dominion Lending Center
- - -
-
Fisgard Asset Management
- -- -
-
First National
- 2.84% - 7.30% -
-
CMLS Financials
$100,000 - $750,000 - 12 - 120
$100,000 - $750,000
CHIP Reverse Mortgage
min 25,000 4.99% - 5.59% 6 - 60
min 25,000
CanWise
- 2.23% - 4.45% -
-
Centum
- 2.89% - 3.79% -
-
Broker Financial Group Inc.
- 2.41% - 3.84% -
-
Bridgewater Bank
- - -
-
Alpine Credits
- - -
-
Provider Services Rating
BDO
Credit Counselling, Bankruptcy, Consumer Proposal
Credit Counselling, Bankruptcy, Consumer...
MNP
Personal Bankruptcy, Consumer Proposal
Personal Bankruptcy, Consumer Proposal...
Full Circle Debt Solutions Inc
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...
Consolidated Credit
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...
4Pillars
Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring
Debt Restructuring, After Care - Credit ...

Surrey, like most neighbourhoods in British Columbia, is becoming a hotbed for real estate, which has driven the general cost of living up amongst its residents. Since not everyone can afford to pay for their daily expenses with just their savings and credit cards, a loan may be necessary for many.

Traveling or going on vacation? Read this first.

Deciding Between an Unsecured or Secured Loan

While most banks, credit unions, and other financial institutions in Surrey offer some form of a loan, there are also many private and alternative entities in Surry who deal exclusively with these products.

The lender you choose in Surrey may even offer a variety of loan options that can be used for all sorts of purposes, such as debt consolidation, mortgaging a home, leasing or purchasing a car, or even standard expenses like groceries. When you apply for a loan in Surrey, you’ll request a specific amount of money and once approved, you and your lender will come up with a repayment plan that works for your finances.

Most lenders in Surrey will also give you the option of applying for an ‘unsecured’ or ‘secured’ loan, both of which can impact your finances in different ways. We’ve included an explanation of each loan type so you’ll have an easier time choosing the one that best suits you.

Unsecured Loans

An unsecured loan is when you apply without any security, also known as offering collateral. This may be the case when you request a relatively small amount of money or if you have a positive financial history, such as a high income or excellent credit. Essentially, the less of a risk you impose on the lender, the easier it will be to access larger unsecured loan amounts in Surrey.

However, it’s important to know that unsecured loans often come with higher interest rates than secured loans because there’s more risk involved when the lender has no collateral to sell in the event that you default (don’t make your payments). Be sure to factor this extra cost into your budget and make certain that you can afford it.

Secured Loans

On the other hand, by offering up collateral during the application process, you’ll be securing the loan. Some lenders in Surrey may even require this kind of security before they can approve you, especially when you’re applying for a significant loan amount, like with a mortgage, car loan, or large personal loan. Again, the more risk you pose, the more collateral may be necessary.

That said, since offering loan security lessens the risk on the lender, they’ll be more likely to approve you and give you a lower, more affordable interest rate. It can even give you more negotiating power when it comes to your payment plan.

Nevertheless, you must be even more cautious with secured loans because your lender will temporarily own the rights to whatever asset you offered. If you default on too many payments and your lender feels you won’t pay them back, they will legally be allowed to seize the asset and sell it to recuperate their loss.

Personal Loans Application Check List

Increasing Your Chances of Approval in Surrey

Remember, the more confidence your lender in Surrey has that you will adhere to your payment plan, the better the overall results for your loan will be, and vice versa. After all, if you default, they could potentially lose a lot of money.

Therefore, they’ll generally start the loan process by inspecting your employment record, gross monthly income, credit report, and other related financial factors to determine your level of creditworthiness. In order to qualify, it’s best to present strong financial aptitude or, at the very least, compensate for weaker financial health by offering solid security.

To increase your chances of approval and earn a lower interest rate in Surrey, you might want to take some of the following steps before applying:

  • Compare lenders in Surrey to find one with reasonable borrowing restrictions
  • Organize any personal or financial information that’s required
  • Gather recent bank statements and pay stubs to showcase your income
  • Improve your credit score, if necessary
  • Find a way to increase your income (if it’s currently insufficient)
  • Find a cosigner with better finances (optional, but helpful)
  • Pay down any existing debts you have
  • Get your assets evaluated to confirm their value

Video: Payday Loans vs. Installment Loans

Prime vs. Subprime Lenders in Surrey

Remember, there are many lending institutions in Surrey and each of them will have varying standards for loan approval. For example, having a monthly income of less than $1,500 or a credit score under 600 for some lenders, but not for others.

Traditionally speaking, however, you’re likely to run into two different kinds of lenders. Make sure to do a lot of prior research into both before you make your decision.   

Prime Lenders in Surrey

Banks, credit unions, and other large-scale institutions are known as ‘prime lenders’ and they usually have strict borrowing regulations. So, if your income or credit score falls below their designated threshold, it can lead to your application being rejected, unless you’re able to offer good collateral or find a reliable cosigner.

Click here to learn the difference between a bank and a credit union.  

Subprime Lenders in Surrey

If you don’t qualify or don’t want to apply with a prime source, you can also choose an alternative, private, or bad credit institution, also known as a ‘subprime’ lender. Instead of having a bunch of banking services, most subprime lenders in Surrey will offer specific loan options, such as installment loans, debt consolidation loans, or payday loans.

Many subprime lenders in Surrey won’t be as focused on your employment status or credit score. As long as you can prove that your income will support your loan payments, fees, and interest rate, you’ll generally have a less difficult time getting approved.

How to find the best loan for your needs this year! Click here.

Avoiding Loan Scams

Another reason it’s important to research a lender properly is that there are many scammers lurking within the realm of personal finance. This a particular problem with some subprime lenders, because it can be harder to confirm their legitimacy.

Many borrowers in Surrey with weaker finances, having been rejected by their bank, will turn to these kinds of places for help. Their desperate need for financing can then leave them vulnerable to manipulation, leading to fraud, identity theft, and their money being stolen.

Here are a few telltale signs that your ‘lender’ is actually a scammer:

  • They don’t have an address
  • They’re not listed in the Better Business Bureau database
  • They refuse to give you information about all costs associated with the loan
  • They use threatening language or force you to give up your banking information
  • They charge you a fee or ‘loan insurance’ before your loan is actually deposited, which is an illegal practice in Canada

If you think you’ve been scammed or you’re a victim of fraud/identity theft, contact your financial institution immediately to have your information modified, cancel any credit cards that may be compromised, then contact the proper authorities.

Need the Right Loan in Surrey?

If so, don’t hesitate to get in touch with us at Loans Canada. We’re ready and willing to connect you with the best lenders in Surrey. Contact our network today for more information about the loan process or apply when you’re ready!

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