Loans Ontario 2019

Ontario is home to Canada’s national capital, Ottawa, as well the country’s most populated city, Toronto. Roughly 40% of Canada’s population lives in Ontario. Located to the south of the province is Lake Ontario, one of the Great Lakes, five bodies of water which, when combined, makeup 21% of the world’s freshwater supply. Right between the border of Ontario and New York State are the famous Niagara Falls, some of the most impressive waterfalls on the planet. In fact, collectively, Ontario’s abundance of freshwater rivers make it a major spot for hydroelectric power.

Check out this page about installment loans in Ontario

The province is also the origin place of numerous Canadian-born celebrities, such as Drake (Toronto), Alanis Morissette (Ottawa), Deadmau5 (Niagara Falls) and the beloved rock band, The Tragically Hip (Kingston). Unfortunately, it’s cities like Toronto that make the province one of Canada’s most expensive places to live, which is where loans can come in handy.

Loan Tips

Taking out a loan is a serious financial decision, one that must be carefully considered before you sign on the dotted line. To help you through the process and make your decision a little bit easier, here are our top loan tips.

  • Work to improve your credit score before you apply for a loan. Depending on the loan product you’re interested in, your potential lender may check your credit. Having good credit can increase your chances of getting approved.
  • Keep an eye on your debt-to-income ratio. Taking on too much debt is never a good idea. Always make sure your debt-to-income ratio is less than 35%. To calculate your ratio, figure out how much your debt is costing you per month, divide that number by your monthly income, then multiply by 100.
  • Ask a friend or family member to cosign for your loan. If you’ve been declined for the loan you need, consider asking a trusted friend or family member to cosign your application, someone with a better income/financial standing. A good cosigner can help those who are unable to get approved because of financial issues.
  • If the loan you’re being offered sounds too good to be true, it is. There are countless fraudulent lenders looking to scam you out of your money. If you’re being offered a large loan with a very low interest rate, even though you weren’t even expecting to get approved, the deal is probably too good to be true.

Trying to improve your credit in 2018? Take a look at this.

How Will You Use Your Loan?

Here are several different loan types that may fit your financial situation:

Read this for some information about short term loans in Ontario.

Increasing Your Chances of Getting Approved

While getting approved for a loan isn’t always guaranteed, there are lots of things you can do to increase your chances of getting approved.

  • Choose the right lender for your financial situation. There are many lenders that will work with anyone, regardless of their credit or financial standing, and there are many lenders that have stricter lending guidelines. It’s important that you choose the lender that is right for your unique needs.
  • Make sure your documentation is in order. More often than not, a lender will need you to provide them with certain personal and financial documents. To make sure you don’t hold up the process, ask what they need in advance, then, have all required documents organized and ready for inspection.
  • Pay down any other debt you might have. Carrying too much debt can be detrimental to anyone’s finances. If you have too many maxed out credit cards or can’t afford to make the payments on any loans you already have, you should consider waiting before you apply for a new loan.

Take a look at our debt timetable to see how ongoing debt could affect you.

The True Cost of BorrowingTake a look at this infographic to learn all about the true cost of borrowing.

Protecting Your Personal Information

Whether you have good credit or bad credit, whether you’re looking for a small loan or a large loan, it should always be your number one priority to protect your personal and financial information. It’s up to you to take the necessary steps to make sure your private information stays private. Here are a few steps everyone should take to protect their personal information:

  • Never share your PINs or your passwords
  • Never give your debit card or credit card to anyone else, even a friend
  • Remember that no major bank or legitimate financial institution will ask for your personal information over the phone, by mail, or online (unless you initiate the process by contacting their services)
  • Check your credit report at least once a year to make sure that all the information within is correct

Dealing With Fraud

Even those who are careful with their personal information can fall victim to identity thieves and loan scammers. These types of criminals will do anything to gain access to your personal and financial information. They certainly don’t discriminate. If you’re currently dealing with loan fraud or personal identity fraud, please contact all of the following institutions:

  • Your Bank
  • Your credit card companies
  • Local police
  • Both credit reporting bureaus (Equifax and TransUnion)
  • Any organizations that might have provided someone with your information or credit accounts in your name
  • The Ministry of Consumer Services of Ontario for help and more information

Click here for an article about identity theft.

Consumer Protection Branch, Ministry of Consumer Services

5775 Yonge Street, Suite 1500

Toronto, Ontario M7A 2E5

Telephone: 416-326-8800

Toll-Free: 1-800-889-9768

Phone (TTY): 416-229-6086

Phone (TTY) 2: 1-877-666-6545

Fax: 416-326-8665

Email: consumer@ontario.ca

Website: www.ontario.ca/consumerprotection

Loan Canada Is By Your Side!

If you’re an Ontario resident in need of a solid loan, then you’ve come to to the right place! Loans Canada is always here to lend a helping hand!

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Bryan completed the Cinema, Video, and Communications program in Dawson College and holds a Bachelor’s Degree in English Literature & Creative Wri...

Lenders in this region:
Provider Rating
Pylo Finance 5/5
Fresh Start Finance 4/5
Marble Finance 5/5
Money Mart 4/5
Payday King 3/5
Private Loan Shop 5/5
Progressa 5/5
My Canada Payday 5/5
Mr. Payday 5/5
Money Provider 5/5
Loan Express 5/5
Meridian Credit Union 5/5
Loan Away 5/5
Loan & Go 5/5
Lendful 3/5
LendDirect 5/5
Health Smart Financial Services -
GoDay 5/5
iCash 5/5
Focus Financial Inc. 2/5
FlexFi 5/5
Eastern Loans 5/5
DMO Credit 5/5
Capital Cash 2/5
Cash 4 You 2/5
Credit 700 3/5
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 3/5
Fast Access Finance 5/5
Fairstone 2/5
Lending Mate 5/5
Consumer Capital Canada 2/5
Lamina 3/5
Loans SOS -
514 Loans 5/5
CashCo 5/5
UrLoan 5/5
Loan Me Now 4/5
Captain Cash 3/5
BC Loans 4/5
Urgent Loans 4/5
Easy Financial 3/5
Mogo Finance 4/5
Cash Money 5/5
Borrowell 5/5
Magical Credit 5/5
Provider Rating
SharpShooter Funding 5/5
First West Credit Union 5/5
PACE Credit Union 5/5
Meridian Credit Union 5/5
DUCA Credit Union 5/5
Laurentian Bank of Canada 5/5
HSBC Bank Canada 5/5
National Bank 5/5
Desjardins 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 Line Capital 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 5/5
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
Evolocity 5/5
Lending Loop 5/5
Thinking Capital 5/5
Provider Rating
Car Creditex -
Auto Capital Canada 5/5
Carfinco 5/5
Canada Drives 5/5
Prefera Finance 5/5
Prudent Financial Services 5/5
Dixie Auto Loans 5/5
Approve Canada 5/5
2nd Chance Automotive 5/5
Newstart Canada 4/5
SkyCap Financial 3/5
Splash Auto Finance by Rifco 5/5
Carloans411 5/5
AutoArriba 5/5
Provider Rating
Newstart Canada 4/5
Fast Access Finance 5/5
BHM Financial 2/5
Provider Rating
Centum 5/5
Broker Financial Group Inc. 5/5
Bridgewater Bank 5/5
Alpine Credits 5/5
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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.