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Loans New Brunswick 2020

Compare the best lenders in this region:
ProviderRating
LendCare -
ECN Capital -
SimplyBorrowed -
Pebble Cash -
Refresh Financial 5 / 5
Go Peer -
North’n Loans -
MDG -
Loan or Credit -
Flexiti Financial -
FinanceIT -
Diamond Financial Services -
Climb 5 / 5
Customer First Financing -
Fresh Start Finance 4 / 5
Money Mart 4 / 5
Payday King 2 / 5
Private Loan Shop 5 / 5
Progressa 3 / 5
Money Provider 5 / 5
Lendful 3 / 5
Health Smart Financial Services -
GoDay 4 / 5
iCash 5 / 5
Focus Financial Inc. 2 / 5
Eastern Loans 4 / 5
DMO Credit 5 / 5
Capital Cash 2 / 5
Credit 700 2 / 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 4 / 5
Consumer Capital Canada 4 / 5
Lamina 3 / 5
Loans SOS -
CashCo 5 / 5
UrLoan 5 / 5
Loan Me Now 4 / 5
Captain Cash 4 / 5
BC Loans 3 / 5
Urgent Loans 4 / 5
easyfinancial 2 / 5
Mogo Finance 4 / 5
Cash Money 5 / 5
Borrowell 5 / 5
Magical Credit 4 / 5
ProviderRating
Clearbanc -
GE Capital -
We Can Financial -
Wajax Equipment -
Key Equipment Financing -
Corl -
Yellowhead Equipment Finance Ltd -
Specialty Truck Financing -
Travelers Financial -
Peel Financial -
Pioneer Financial Services -
Polaris Leasing -
Patron West -
Payability -
Planet Financial -
Rise -
Merchant Growth -
Onesta -
Lionhart Capital -
Lift Capital -
Leaseline -
Lease Direct -
John Deere -
Hitachi Capital Canada -
Export Development Canada -
Essex Lease Financial Corporation -
Equilease -
Alliance Financing Group LTD -
CanaCap -
CLE Capital -
Canada Equipment Loan -
SharpShooter Funding 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
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 3 / 5
Borrowell 5 / 5
iCapital 5 / 5
Lendified -
IOU Financial 5 / 5
Company Capital 5 / 5
OnDeck 5 / 5
Lending Loop 5 / 5
SkyCap Financial 4 / 5
Thinking Capital 5 / 5
ProviderRating
Eden Park -
WeFinanceCars -
Walker Financial Services -
Rifco -
National Powersports Financing -
LMG Finance -
Loans2Go -
iA Auto Finance -
Gamache Group -
Royal Bank of Canada (RBC) 5 / 5
Laurentian Bank of Canada 5 / 5
National Bank 5 / 5
Desjardins 5 / 5
Canadian Imperial Bank of Commerce (CIBC) 5 / 5
Scotiabank 3 / 5
Daimler Truck Financial -
DealerPlan Financial -
Coast Capital -
Canada Auto Finance -
Credit River Capital Inc -
Capital Trust Financial -
Canadian Truck Loan -
Cars on Credit Financial -
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
ProviderRating
Instant Loans Canada -
Newstart Canada 4 / 5
BHM Financial 3 / 5
ProviderRating
Mortgage Alliance -
Paradigm -
Verico -
True North Mortgage -
Tangerine -
Turnedaway -
REICO -
Motusbank -
Mortgage Architects -
Keystone Finance Solutions -
IntelliMortgage -
Invis -
Dominion Lending Center -
First National -
CHIP Reverse Mortgage -
Centum 5 / 5
Broker Financial Group Inc. 5 / 5
ProviderRating
BDO 5 / 5
MNP 3 / 5
Raymond Chabot 5 / 5
Full Circle Debt Solutions Inc 5 / 5
Consolidated Credit 5 / 5

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).

You can also consider a guarantor loan

Loans For All Your Needs in New Brunswick

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:

The Cost of Raising a Child in CanadaEver 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:

  • Requesting a credit check before you apply.
  • Paying off any debts you might already have.
  • 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.

Financial and Consumer Services Commission

Kings Place (King Tower)

440 King Street

Fredericton, New Brunswick E3B 5H8

Telephone: 506-453-2659

Toll-Free: 1 866 933-2222

Fax: 506-444-4494

Email: info@fcnb.ca

Website: www.fcnb.ca

Dealing With Fraud in New Brunswick

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.

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!

FAQs

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.

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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...

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Note:

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.