Spring Financial is an online consumer lending company that offers innovative financial and credit-building solutions designed to give Canadians the opportunity to build credit, save money and borrow responsibly.With many Canadians struggling with high-interest debt and limited financing options, Spring Financial strives to provide Canadians with affordable and accessible financial products that can help them achieve greater financial freedom. Among their growing suite of smart money solutions, Spring Financial offers $1,500 cash advances, personal loans up to $35,000, and a credit-building program that helps you build credit and save money.
Available in seven provinces, iCash is an online source of fast, small loans that can be used for any emergency. Approved applications are processed within the same day and no documentation is required before the transfer of your funds. You can borrow up to $1,500 with iCash. Every time you pay the loan back following the agreed-upon deadline, you become a more reputable borrower. The increased trust allows you to borrow more each time. iCash uses a Trust Rating System, an algorithmic function that determines your merit as a borrower.
The MogoMini line of credit offers Canadian consumers a great personal loan alternative. Borrowers can access up to $5,000, spend what they need when they need it, make the automatic minimum payments, and finally control their own principal payments. This Mogo product is flexible and users can test drive their line of credit for 100 days to see if it’s the right fit. Access their easy online application via your MogoMoney dashboard and get pre-approved in 3 minutes with no impact on your credit.
easyfinancial offers a variety of loan products, including secured and unsecured personal loans. easyfinancial offers unsecured personal loans from $500 to $20,000 and secured loans between $15,000 to $150,000. Qualifying with easyfinancial is relatively easy compared to many banks and credit unions in the country. Moreover, online applications only take a few minutes to fill out and are normally accepted 24/7.
Fairstone is a great choice for consumers looking for loans with affordable payments that meet their needs and budget. As Canada’s leading non-bank lender of personal loans, consumers can get unsecured loans up to $25,000. Homeowners can choose a secured loan (backed by the value of their house) to borrow more money and access lower payments compared to an unsecured loan. Whether you’re looking to consolidate debt into one simple monthly payment, cover unexpected expenses or something else altogether, Fairstone is a great option.
Cash Money has been helping Canadians access easy and quick loans for more than 30 years. They offer payday loans, personal loans, and line of credit loans from $1,500 to $10,000. User will enjoy their simple online application, personalized options, and same-day funding. Whether you need to cover an emergency expense or simply need to make it to your next payday, Cash Money can a variety of options to meet your needs.
If you’re looking for an open-ended line of credit with credit limits up to $15,000, Fora is the best choice. Fora’s line of credit lets you withdraw funds from your available credit, and repay and redraw as needed. This makes it an excellent option for those seeking flexibility and quick access to cash as needed.Moreover, interest rates start as low as 19.9% and are only charged on the amount you withdraw.
If you’re short on cash, Bree offers cash advances of up to $500 with zero interest. Bree is an online financial platform that provides interest-free cash advances to help consumers avoid overdrafts and NSF fees. Their mission is to be a dependable and accessible financial source that consumers can trust when they need financial support. Moreover, you can access the money you need with Bree without having to worry about credit checks, interest charges or late fees.
Money Mart is a Canadian financial services provider that specializes in offering short-term financial products, including payday loans, cheque cashing, wire transfers, and installment loans. They're available both in person and online, providing borrowers with different options to apply for loans and access their borrowed funds. Their Payday Boost products are available for up to $1,500, and installment loans are available for up to $25,000. They're known for their easy-to-use services and same-day cash options, making Money Mart a great option for those who have little time to wait for much-needed funding.
Nyble helps users quickly access a line of credit of up to $250 without credit score requirements. This is a good option for anyone who wants to avoid overdrafts or needs a small amount of cash quickly. Approval is instant and funding takes up to 3 days. But if you upgrade to a paid membership for $11.99 a month, you can receive your money within 30 minutes. Nyble reports your payment history to the credit bureau monthly and approves you for large amounts as you build trust with the platform. You can also track your credit score, earn reward points for improving your score, and access other features such as credit monitoring and digital identity theft protection.
LoanMeNow offers Canadian consumers quick access to the cash they need. They offer loans up to $1,000 with no credit check required. Funds are deposited directly into your bank account within as little as 24 hours. A short-term loan from LoansMeNow can help you cover the cost of an unexpected expense or tide you over until your next paycheque. Whatever your financial needs are, LoanMeNow’s quick approval time means you’ll be able to get back on track as soon as possible.
GoPeer is a peer-to-peer lending platform that connects borrowers with individual investors who fund loans. Through GoPeer, you can get a personal loan for up to $35,000, with flexible repayment terms and competitive interest rates. Interest rates start at 8.99%, depending on your credit profile. GoPeer's unique peer-to-peer model allows consumers to benefit from a more personalized borrowing approach. The online application process is quick and easy, and funds can be deposited into your account in as little as 7 days.
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New Brunswick is one of the three maritime provinces in Canada. It’s also the only constitutionally bilingual province. With a population of just under 750,000 residents, New Brunswick is ranked as the 8th most populated province in the country. One of the four original provinces of Canada, New Brunswick was officially made part of the Canadian Federation in 1867, along with Quebec, Nova Scotia, and Ontario. Where New Brunswick differs from the other two maritime provinces (Prince Edward Island and Nova Scotia) is that it’s the only one that is not completely surrounded by water. Fredericton, the province’s capital, is the third largest city in the province and is the location of the annual Harvest Jazz & Blues Festival, which attracts jazz, blues, and rock artists from all over the world.
Loans Tips
If you’re a resident of New Brunswick, here are a few tips that you can use when you’re looking to apply for a loan:
It’s best not to apply for too many loans at once, as doing so could have a negative impact on your overall credit score.
Before applying for a loan in New Brunswick, think about what type of payment term will best suit your needs. For instance, with a shorter-term loan, your monthly payments will be higher, but you will pay less overall. because your payment period will be shorter.
Make sure that you choose a legitimate lender in New Brunswick. Check out consumer reviews and look for the lender in the Better Business Bureau database.
Before signing any contracts with your chosen lender, always read every document over carefully for any inconsistencies.
Ask about secured loans first, they might be better suited to your situation.
It’s always in your best interest to make your loan payments on time and in full. If not, you could be charged a large penalty, be given a higher interest rate, or the property you’re financing might be seized as collateral (for homes, cars, and other assets).
One thing about loans? There are numerous kinds, all relating to different financial situations. Whether it’s to pay off your car, your home, or your business, there are lenders out there that will supply you with the loan you need. These are the types of loans that are the most frequently used by the average New Brunswick citizen:
Ever wonder how much it will cost you to raise a child in Canada? Check out this infographic.
Increasing Your Chances of Getting Approved in New Brunswick
True, getting approved for a loan can often be difficult, especially if you don’t have a favourable credit score. Having bad credit can make lenders in New Brunswick think that you’re at risk of defaulting or going bankrupt, so approving you might be a bad idea. However, there are measures you can take that will increase the likelihood of you getting the approval you need, such as:
Your financial situation might be different from everyone else’s. So, choosing the right lender to suit your needs is important.
Before applying, make sure that taking out a loan is the right option for you.
It’s best to have all your information up to date and ready to go.
Take your time and search around before you commit to one lender.
Banks are not the only lenders you’ll come across, so look at other organizations if your bank rejects your application.
Dealing with an online lender might work in your favour, so keep an open mind.
Click here to learn about bad credit loans in New Brunswick.
Protecting Your Personal Information
The unfortunate truth is that there are multiple ways for an identity thief or fraudster to steal your personal information. Once they’ve done this, your finances can be damaged and take a long time to repair. If a thief manages to get a hold of your Social Insurance Number, for instance, they can steal your identity, then open credit accounts and take out loans in your name. For this reason alone, it’s crucial to have your information properly protected.
For more information about fraud and identity theft in New Brunswick, contact the Financial and Consumer Services Commission.
Fraud is one of the most serious crimes that any person may have to deal with in their lifetime. As mentioned above, fraudsters and identity thieves are clever. In fact, they can use the most basic personal information to gain access to both your bank and credit accounts. If you’re receiving your mail in an unlocked mailbox, someone can use your name, address and postal code to pretend they are you. If you accidentally throw out a pay-stub from your paycheck, they can find your SIN (Social Insurance Number) and also use it to access your banking information. Fraudsters can even learn about you by using websites like Facebook and Instagram, so be careful what you’re posting online.
Read this for an introduction to debit card fraud.
Your credit is also at risk if you don’t take the proper precautions and a thief gains access to one or all of your credit accounts. Your credit score could be impacted badly and prevent you from getting approved for the financial products you need in the future. Some of the more common types of fraud are:
Remember, it’s in your best interest to review your accounts on a regular basis and keep an eye out for any suspicious activity. Actually, there are a few warning signs that you can watch for, such as:
If one or more of your lenders contacts you to let you know that you’ve been approved or rejected for a loan that you never applied for.
The same goes for credit card companies and banks. If they inform you that you’ve been approved or denied for a card, or service that you didn’t apply for in the first place, your identity may have been stolen.
If you already have existing credit cards, but your monthly statements have stopped showing up in the mail, someone might be stealing them and using your information.
If your statements are still showing up, but unusual purchases that you don’t remember making are listed on the bills, it’s another sign that a thief might have your credit card information.
If a collection agency informs you that you haven’t been making payments for a loan that you never applied for, someone might be using your identity to open loans in your name.
Frequently Asked Questions
How do I qualify for an online loan in New Brunswick?
In general, an online lender in New Brunswick will evaluate your credit score, income, debt-to-income ratio and more to determine approval. If you have bad credit, you can still get a loan if your income is high and your debt is low. However, the amount you are approved for, the rate you’re charged and the terms you receive are solely dependent on the lender.
Can I get a bad credit loan in New Brunswick?
Yes, while it may be difficult to convince your bank or credit union to lend you money, many online and payday lenders are more than willing to fund your needs. Unlike banks and credit unions, online and payday lenders base your credibility on more than just your credit score. Your income level, job stability, debt-to-income ratio and your overall financial health are all considered when approving you for a loan.
Can I use my Canada Child Benefits (CCB) to get a loan in New Brunswick?
In New Brunswick, many alternative lenders are willing to lend to borrowers who have a non-traditional source of income. Government benefits like Canada Child Benefits (CCB), Canada Pension Plan (CCP), Employment Insurance (EI) and any other non-traditional sources of income are usually accepted. However, do be aware that these loans are usually quite expensive due to the added risk these lenders take.
Should I get a short-term or long-term loan?
When you’re searching for a loan in New Brunswick, you’ll notice that many lenders have varying terms for different types of loan products. No matter which product you choose, the length of your loan term should be based on how much you can afford. While a long-term loan will provide smaller and more affordable payments, you will end up paying a lot more in interest than a short-term loan. As such, if your lender is willing to provide you with a loan term between 2 and 5 years, choose the shortest length that you can still afford comfortably.
The Loans You Need, No Stress!
If you’re currently seeking a loan in New Brunswick to finance something important to you, we’ve got great news! You’ve already found Loans Canada!
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