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Loans Nova Scotia 2020

Compare the best lenders in this region:
ProviderRating
North’n Loans -
MDG -
Loans Express -
Loan or Credit -
Flexiti Financial -
FinanceIT -
Diamond Financial Services -
Climb 5 / 5
Customer First Financing -
Fresh Start Finance 4 / 5
Marble Finance 5 / 5
Money Mart 4 / 5
Payday King 2 / 5
Private Loan Shop 5 / 5
Progressa 3 / 5
My Canada Payday 5 / 5
Money Provider 5 / 5
Lendful 3 / 5
Health Smart Financial Services -
GoDay 4 / 5
Eastern Loans 5 / 5
DMO Credit 5 / 5
Capital Cash 2 / 5
Credit 700 2 / 5
Credit2Go 3 / 5
Ledn 5 / 5
Affirm Financial 5 / 5
310 Loan 2 / 5
Newstart Canada 4 / 5
Ferratum 5 / 5
Fairstone 3 / 5
Consumer Capital Canada 4 / 5
Lamina 3 / 5
Loans SOS -
Loan Me Now 4 / 5
Captain Cash 4 / 5
BC Loans 4 / 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
ProviderRating
Onesta -
Lift Capital -
Leaseline -
Lease Direct -
John Deere -
Hitachi Capital Canada -
4 / 5
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 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
ProviderRating
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 -
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
Splash Auto Finance by Rifco 5 / 5
Carloans411 5 / 5
AutoArriba 5 / 5
ProviderRating
Instant Loans Canada -
Newstart Canada 4 / 5
BHM Financial 5 / 5
ProviderRating
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 5 / 5
Full Circle Debt Solutions Inc 5 / 5
Consolidated Credit 5 / 5
4Pillars 5 / 5

Latin for “New Scotland,” the province of Nova Scotia is the second smallest in Canada, next to Prince Edward Island. Nestled in the Atlantic Ocean, Nova Scotia was one of the original four Canadian provinces established in 1867, along with Quebec, New Brunswick, and Ontario. With a population just shy of 950,000 residents, Nova Scotia, including its capital city of Halifax, is known for some of the best hiking, kayaking, sailing, and white-water rafting that Canada has to offer. During certain times of the year, the Bay of Fundy and the Annapolis Valley region are perfect places to see over 15 different species of whale. Nova Scotia is also known for having over 3,800 other small islands plotted around its coast, including the scenic Cape Breton.

Want some information about short term loans in Nova Scotia? Check this out

Loan Tips

If you’re thinking of applying for a loan in Nova Scotia soon, there are a few tips below that you should take into consideration before you apply:

  • Having a low credit score can often be the cause of a rejected application when it comes to certain types of loans. So, it’s best to work towards building up a solid credit history, rating, score, and report before applying for a loan in Nova Scotia.
  • Once you’ve found a lender in Nova Scotia that’s trustworthy and will give you the best service, before you apply, it’s best to review your finances. This will help you make sure that you can afford to take on a loan.
  • When you talk to your lender, be sure to ask about extra payments, as making them may help reduce your payment period. However, it’s important to know that you could be charged a penalty if you go over a certain monthly limit.
  • Once you’ve been approved, it’s best to keep an eye on your debt-to-income ratio (your debt payments, divided by your monthly income). If your ratio equals 35% or more, you may want to reconsider.

Trying to improve or fix your credit score? Read this for some more helpful tips.

Loans For All Your Needs in Nova Scotia

One of the good things about loans is that there are many different types, which means you can apply for one that is catered to your needs, whatever they may be. Here are some examples of loans that the average Nova Scotia borrower uses:

Click here if you’d like to learn about installment loans in Nova Scotia. 

Commuting to Work in CanadaEver wonder how your daily commute compares to other Canadians? Check out this infographic.

Increasing Your Chances of Getting Approved

Yes, the application process to get a loan in Nova Scotia can sometimes feel like an intimidating one. Getting approved can also be difficult for those who don’t have good credit. However, if you’re looking to apply for a loan, here are a few pieces of advice that you can follow to increase your chances of getting approved:

  • Make sure to perform a credit check before you decide to apply.
  • If you have any other debts that need paying, it’s best to deal with them first.  
  • It’s important to choose the right lender to suit your particular financial circumstances. Ask about their payment plans, interest rates, etc.
  • Loans might not always be the right choice. Be sure to consider all your options before making a decision.
  • Before applying, see that all your necessary personal documents and banking information are in order.
  • Not all lenders in Nova Scotia are the same, so it’s good to do ample research before applying. Make sure you choose a legitimate lender.
  • Remember, banks are just some of the lenders you can apply with. There are other organizations out there that might be better for you.

Comparing lenders in Canada? Take a look at this

Protecting Your Personal Information

It’s always in your best interest to make sure that your personal and financial information is properly protected. Being irresponsible with your information can leave you vulnerable to identity theft and other types of fraud, which is becoming an increasingly worse problem in our digital world. Using the internet and a bit of clever thinking, a fraudster can steal your valuable information and use it to hack into your bank accounts, take out loans in your name, or do other malicious things to your finances. So, it’s very important to stay informed. Always be cautious about any suspicious activity on your accounts or of any offers that you might be given.

If you’ve fallen victim to fraud or have had your identity stolen, you can contact Service Nova Scotia.

Service Nova Scotia and Municipal Relations, Public Enquiries

Mail Room, 8 South

Maritime Centre

1505 Barrington Street

Halifax, Nova Scotia B3J 3K5

Telephone: 902-424-5200

Toll-Free: 1-800-670-4357

Fax: 902-424-0720

Email: askus@gov.ns.ca

Website: www.gov.ns.ca/snsmr/access/individuals/consumer-awareness.asp    

Dealing With Fraud in Nova Scotia

Unfortunately, many people, not only in Nova Scotia but across the country will have to deal with identity theft or fraud at some point. Both are serious crimes that need to be dealt with immediately if they ever happen to you. Another disturbing fact is just how easily a fraudster can get ahold of your personal information and use it to their advantage. With just your driver’s license or Social Insurance Card, a thief can learn everything about you, then cause a huge amount of damage to your credit and finances. There are any number of accounts, services, and loans that they can open in your name and make purchases with before you realize it. With everyone having access to the internet, it’s becoming even easier for a fraudster to steal from you, no matter who you are or what your financial status might be.

In addition, your credit may be damaged if you become a victim of identity theft or fraud. While you may be able to change your information and catch the person responsible, it can then take months, even years to get back to your former financial status. Here are some of the more common types of fraud that can be committed:

  • Loan fraud
  • Credit card fraud
  • Identity theft
  • Credit fraud   

Look here for an explanation of debit card fraud. 

Don’t worry, if you’ve been frauded or have had your identity stolen, there are measures you can take and people you can contact to have your old information modified, and protected properly. Some of these measures are listed below:

  • Contact your local police department immediately. Most police departments will have a fraud unit that specializes in cases like yours, especially if it pertains to your identity being stolen.
  • After you file a police report, contact the Canadian Anti-Fraud Centre for further information and possible solutions.
  • If you suspect someone has gained access to your bank account, talk to your bank as soon as possible. Have them close your current account, then open a new one with a different account number and PIN (Personal Identification Number).
  • If you lose your wallet or your credit card gets stolen, contact your credit card company and get them to cancel your account. Then call your local Canada Service Centre for more information.
  • If your credit has been compromised, talk to both major credit reporting agencies in Canada (TransUnion and Equifax). If necessary, they can put a fraud alert on your profile to prevent further incidents.
  • It’s possible to request a change of Social Insurance Number from Service Canada if you suspect yours has been stolen and used harmfully. However, you will have to prove that your claims are valid.

The Right Financing Every Time!

If you’re a Nova Scotia resident in need of some good financing, you’ve come to the right place! Loans Canada is by your side!

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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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.