Loans Canada Services Are 100% Free. Disclaimer

Loans Vancouver 2020

Compare the best lenders in this region:
North’n Loans -
Loan or Credit -
Instant Payday Canada -
Flexiti Financial -
FinanceIT -
Diamond Financial Services -
Climb 5 / 5
Pylo Finance 4 / 5
Fresh Start Finance 4 / 5
Marble Finance 5 / 5
Money Mart 4 / 5
Private Loan Shop 5 / 5
Progressa 3 / 5
My Canada Payday 5 / 5
Mr. Payday 4 / 5
Money Provider 5 / 5
Loan Express 3 / 5
Loan Away 4 / 5
Lendful 3 / 5
LendDirect 5 / 5
Health Smart Financial Services -
GoDay 4 / 5
iCash 5 / 5
Focus Financial Inc. 2 / 5
FlexFi 5 / 5
Eastern Loans 5 / 5
DMO Credit 5 / 5
Capital Cash 2 / 5
Credit 700 2 / 5
Credit Club 5 / 5
Credit2Go 3 / 5
Ledn 5 / 5
Amber Financial 5 / 5
Affirm Financial 5 / 5
310 Loan 2 / 5
Newstart Canada 4 / 5
Ferratum 5 / 5
SkyCap Financial 4 / 5
Fairstone 3 / 5
Lending Mate 4 / 5
Consumer Capital Canada 4 / 5
Lamina 3 / 5
Loans SOS -
514 Loans 5 / 5
CashCo 5 / 5
UrLoan 5 / 5
Loan Me Now 4 / 5
Captain Cash 4 / 5
BC Loans 3 / 5
Urgent Loans 4 / 5
easyfinancial 3 / 5
Mogo Finance 4 / 5
Cash Money 5 / 5
Borrowell 5 / 5
Magical Credit 5 / 5
Speedy Cash 5 / 5
Onesta -
Lionhart Capital -
Lift Capital -
Leaseline -
Lease Direct -
John Deere -
Hitachi Capital Canada -
Guardian Leasing -
4 / 5
Essex Lease Financial Corporation -
Equilease -
Alliance Financing Group LTD -
CanaCap -
CLE Capital -
Canada Equipment Loan -
SharpShooter Funding 5 / 5
First West Credit Union 5 / 5
Meridian Credit Union 3 / 5
Laurentian Bank of Canada 5 / 5
HSBC Bank Canada 5 / 5
National Bank 5 / 5
Canadian Imperial Bank of Commerce (CIBC) 5 / 5
Scotiabank 3 / 5
Bank of Montreal (BMO) 3 / 5
Royal Bank of Canada (RBC) 5 / 5
CWB National Leasing 5 / 5
Money in Motion 5 / 5
Lease Link 5 / 5
FundThrough 5 / 5
Econolease Financial Services Inc. 5 / 5
Easylease Corp 5 / 5
Dynamic Capital 5 / 5
Capify 5 / 5
Canadian Equipment Finance 5 / 5
Capital Key 5 / 5
Cashbloom 5 / 5
BFS Captial 5 / 5
BDC 2 / 5
Baron Finance 5 / 5
B2B Bank 5 / 5
AOne Financial Solutions 5 / 5
Borrowell 5 / 5
iCapital 5 / 5
Lendified -
IOU Financial 5 / 5
Company Capital 5 / 5
OnDeck 5 / 5
Lending Loop 5 / 5
Thinking Capital 5 / 5
National Powersports Financing -
LMG Finance -
Loans2Go -
iA Auto Finance -
Gamache Group -
Daimler Truck Financial -
DealerPlan Financial -
Coast Capital -
Canada Auto Finance -
Credit River Capital Inc -
Capital Trust Financial -
Canadian Truck Loan -
Canada Car Loans -
Car Loans Canada 5 / 5
Car Creditex -
Auto Capital Canada 5 / 5
Carfinco 5 / 5
Canada Drives 5 / 5
Prefera Finance 5 / 5
Approve Canada 5 / 5
2nd Chance Automotive 5 / 5
Newstart Canada 4 / 5
SkyCap Financial 4 / 5
Splash Auto Finance by Rifco 5 / 5
Carloans411 5 / 5
AutoArriba 5 / 5
Instant Loans Canada -
Newstart Canada 4 / 5
BHM Financial 5 / 5
Mortgage Architects -
Keystone Finance Solutions -
IntelliMortgage -
Invis -
Equitable Bank -
Dominion Lending Center -
Fisgard Asset Management -
First National -
CMLS Financials -
CHIP Reverse Mortgage -
CanWise -
Centum 5 / 5
Broker Financial Group Inc. 5 / 5
Bridgewater Bank 5 / 5
Alpine Credits 5 / 5
BDO 5 / 5
MNP 5 / 5
Full Circle Debt Solutions Inc 5 / 5
Consolidated Credit 5 / 5
4Pillars 5 / 5

Vancouver, located in British Columbia, is a large coastal city, flanked by the Pacific Ocean to the west and the Rocky Mountains to the east. It’s one of our country’s most culturally diverse cities and has been rated as being one of the best places to live, not only in Canada but in the entire world. With a population of roughly 2.4 million residents, the Greater Vancouver area is the third most populated city in Canada, next to Toronto and Montreal.

First inducted as a Canadian province in 1886, the city is named after Captain George Vancouver. A large portion of the city is bordered by warm sandy beaches, the majority of which are free to visit. It’s also where the annual Vancouver International Film Festival is held, which one of the largest film festivals in North America. In addition, Vancouver is the birthplace of many notable film and television stars, such as Seth Rogen, Cobie Smulders, Ryan Reynolds, and Michael J. Fox.

For information about loans, credit, mortgages, and financing in Vancouver, read this    

Loan Myths

If you’ve never applied for a loan before, then you might not have any idea what the process is like. You may have even heard a few rumors along the way, many of which simply aren’t true. To help demystify the process, here are a few of the most common loan myths:

  1. You have to have perfect credit to get approved for a loan. There are countless lenders out there who offer loan approval for credit-constrained Canadians. However, those with lower credit scores sometimes receive a higher interest rate, which can affect the overall cost of a loan, so keep this in mind before you apply.
  2. Only banks and other traditional financial institutions provide loans. Not anymore. In recent years, more and more companies have come to realize that consumers are fed up with how banks operate and that many are now turning to alternative lending sources for their credit products.
  3. If you need a loan to help cover your day-to-day expenses, it means that you’re irresponsible with money. Life happens, it’s unpredictable and often very expensive. Taking out a loan in order to deal with your regular expenses should not be seen as a negative thing. In fact, using a loan responsibly is actually good for your credit, which in turn is good for your finances.

Click here to learn about bad credit loans in British Columbia. 

Preparing to Apply for a Loan

While the loan application process can actually be relatively simple, there are still many steps you should take to prepare yourself and your finances for it.  

  1. Determine how large of a loan you’ll need to cover whatever expense you’re dealing with.
  2. Consider checking your credit score and credit report before you apply for a new loan. Remember, the better your credit is, the better your chances will be of receiving approval and a good interest rate.
  3. Make sure you can handle the financial responsibility that comes with paying off a loan. Checking your credit and reviewing your finances is the best way of doing that.
  4. Calculate your potential payments, including your interest rate, to get an idea of how long it will take you to become debt free once your payment schedule has begun. Are you comfortable with the answer?
  5. Finally, make sure all of your personal and financial documentation is in order. It’s best to be organized to make the application process quick and efficient.

Take a look at this debt timetable to see what happens when you let your payments get out of hand. 

Canadian Credit Score RangesInterested in more information about how credit scores are calculated? This article is for you. 

Loans and Your Credit Score

Your loans and your credit score each have a direct effect on each other. Generally speaking, it will be easier for you to get a loan if you have a decent credit score. Then, once you get your loan, managing it properly will positively affect your credit score and vice versa. Keep in mind that while not all lenders require a credit check during the approval process, it’s important to make sure your lender is legitimate and reports to one of Canada’s two main credit bureaus, Equifax or TransUnion. The more positive activity your lender reports, the better your credit will become.

Trying to compare lenders in Canada? Check this out.   

Even if your credit is poor, you still have lots of options. Just make sure you’re working with a reputable lender. Often, fraudulent lenders will try to take advantage of consumers who are in a desperate position. If the offer sounds too good to be true, it probably is. Always look up your lender in the Better Business Bureau database before you sign any documents or give away any personal information.

Look here if you need some debt relief from predatory loans.

Credit Card or Personal Loan?

This depends on your financial situation and the reason you’re borrowing money in the first place. If you’re 100% sure you’ll be able to repay the money you borrow within a month, then a credit card could be a better option. However, if you’re not able to pay your credit card balance, you’ll be charged a penalty and a higher interest rate. On the other hand, with an installment loan, you’ll be able to calculate exactly how much you owe and when you’ll need to pay it in full.

Why Do Some Lenders Ask For a Deposit?

When a supposed “lender” asks for a deposit upfront, it’s a sure sign that they are trying to scam you out of your money. Do not provide them with any type of compensation and stop contacting them immediately. A legitimate lender will never ask you to pay them for anything before you receive your loan because doing so is illegal.

To learn how you can avoid a loan insurance scam, try reading this.

Being Reject By The Bank For a Personal Loan

Banks and other traditional lenders judge their applicants based on a variety of criteria, including their credit scores, credit histories, financial standings, debt-to-income ratios, etc. So, if say, your credit score isn’t up to their standards, they may reject your application. If you’ve been rejected by your bank more than once, you may want to consider looking for alternative lenders who work with borrowers in similar financial situations as yours.

Want some tips for how to improve or fix your credit score? Check this out

Loans Canada Is Always By Your Side!

If you’re a Vancouver resident in need of some good financing, you’ve come to the right place! Loans Canada is your go-to source!


Can you get a loan with bad credit?

  • Yes, Canadians with bad credit can still qualify for a loan. Unsecured bad credit loans may be paired with higher interest rates, but consumers can still opt for a secured loan such as a car title loan to gain access to lower rates.

Will applying for a loan hurt my credit score?

  • If the lender performs a hard pull of your credit, yes your credit score will go down a few points. But it will recover over time. The most important thing is to make sure you don’t have too many hard pulls within a short period of time.

Can I pay off my loan early?

  • Yes, some lenders will allow you to settle your account early. Just keep in mind that you may be charged a prepayment penalty, which is typically a percentage of your remaining loan balance. Before you sign a loan contract make sure you understand the terms of your loan.

What is the difference between a secured and an unsecured loan?

  • A secured loan is backed by some form of collateral, typically an asset like a vehicle or piece of property. If a borrower defaults on a secured loan, the asset could be seized. An unsecured loan does not require collateral. The heightened risk of an unsecured loan may result in a higher interest rate, although this is usually a function of the applicant’s credit history.

How to tell if a lender is legitimate?

  • Choosing a legitimate lender can seem like a daunting task, but there are a few key factors to watch out for. For example, a legitimate lender will never ask for any form of upfront payment and should have many independent reviews you can look at online.

Can I transfer my loan to someone else?

  • Certain loans, for example, a car loan, can be transferred to someone else. But, a personal loan cannot be transferred.

How useful was this post?

Click on a star to rate it!

Posted by
Bryan completed the Cinema, Video, and Communications program in Dawson College and holds a Bachelor’s Degree in English Literature & Creative Writing from Concordia University. Bryan covers a wide range of topics for Loans Canada, including credit improvement, debt management, and all things related to personal finance. In his spare time, he maintains a passion for editing, writing film and television screenplays, staying fit, and traveling the world in search of the coolest sights our plan...

Services In This Region
Regional Service Directory
From the blog...
What is a Cash Advance?
Posted on January 3, 2020

What is a Cash Advance?

Whether you're looking for quick access to cash or need to cover an unexpected expense, a cash advance can help. We have all the information you need.

Make Sure You Understand These Financial Terms Before Getting a Loan
Posted on November 19, 2019

Make Sure You Understand These Financial Terms Before Getting a Loan

Taking on a loan is a serious financial decision, make sure you understand these terms first as they will help make the process as smooth as possible.

Can I Pay Off My Loan Early?
Posted on October 31, 2019

Can I Pay Off My Loan Early?

Thinking about paying off a loan early to save on interest or to get rid of any debt you have? Loans Canada has all the information and advice you nee... Read More

Related Videos
How To Identify A Loan Scam
How Your Credit Score is Calculated
The Ins & Outs of Debt Consolidation

All consultations and conversations with Loans Canada and its partners are confidential and risk-free. Speak with a trusted specialist today and see how we can help you achieve your financial goals faster.

Loans Canada and its partners will never ask you for an upfront deposit, upfront fees or upfront insurance payments on a loan. To protect yourself, read more on this topic by visiting our page on loan scams.