BHM Financial Reviews, Ratings And Fees January 2023

Based on 4
Customer Reviews
1090 Avenue Pratt Montreal
Montreal, Quebec
H2V 2V2
  • Monday-Friday 9 am to 5 pm

Who Is BHM Financial

Since 2005, BHM Financial Group has been focusing on providing bad credit Canadians with access to financing. They focus on approving consumers based on assets, not their credit scores. Because of this, BHM Financial is able to offer a wide variety of products, including:

  • Personal loans
  • Car title loans
  • First and second mortgages
  • Small business loans
  • RV loans
  • Equipment loans
  • Mobile home loans
  • Trailer loans
  • Truck loans
  • Boat loans

BHM Financial specializes in helping Canadians recover from financial mishaps and life setbacks. Whether you’ve lost your job or need extra financing to keep your business going, BHM Financial is ready to step in. Qualify for up to $25,000 with BHM Financial and get on track, regardless of your current financial situation.

What Is The Application Process Like? 

BHM Financial’s application process can be summarized in three easy steps. 

  1. Fill out the application form –  When you fill and submit the online application form you will receive a pre-approval. The amount you are pre-approved for and your estimated monthly payments will depend on the accuracy of the information you provide in the application form. 
  2. Submit the required documentation – If you would like to proceed, you will have to provide a variety of documentation to show:
    1. Proof of identity ( 2 photo IDs)
    2. Proof of address
    3. Proof of income
    4. Proof of asset 
    5. Void Cheque
  3. Get Funded – Once your application and documentation have been reviewed and approved, you will receive your funds within 24 hours. 

What Kind of Information Do I Need To Provide When Applying? 

Filling out the online application form will take at least 10 minutes to complete. However, it can easily take much more time to complete if you have more than one asset and if you do not have the documents necessary to fill out the details. Overall, there are 3 sections of the application that you need to complete. 

  1. Loan Information – Here you’ll simply have to provide the reason you need a loan, how much you need and if you want a secure or unsecured loan. 
  2. Personal Information – Like any online loan application, you will need to provide your name, address, date of birth, phone number, and credit score. In addition to that, BHM Financial also requires you to provide your father and mother’s full name, and how many dependents you have. 
  3. Financial information – BHM Financial requires not just your employment information, but your average monthly expenses as well. If you have an asset you’d like to put up as collateral to improve your chances of approval you’ll have to provide details that will help BHM estimate its value. 

Which Assets Can I Use To Get a Loan? 

Any assets you own, whether it’s a car, house or land, can help you qualify for up to $25,000. However, the exact amount you qualify for depends on the value of your asset. A really old car that barely runs won’t get you much of a loan. In general, you can qualify for up to $25,000 if you own any one of these assets: 

  • Car – A car that is fully paid, insured and is no more than 8 years old. You must also not have any outstanding liens on the car.
  • Mobile Home – A mobile home that is fully paid and insured. You must also not have any outstanding liens on the asset.
  • House – A insured house with 1st or 2nd mortgages. 

Pros and Cons of Getting a Loan With BHM Financial

Car title loans and other asset secured loans will increase your chances of approval.If you default on your payments you could lose your asset. 
Using an asset can potentially help you negotiate a lower interest rate. Secured loans like a car title loan carry much higher interest rates.   
A secured loan can help you build credit. 
BHM Financial accepts people with good, average, or bad credit

What Costs Are Involved In a Secured Loan?  

Though a secured loan can help you get a larger loan faster, it also comes with a higher risk. To look at the costs and risks involved let’s take a look at a car title loan. Many low credit individuals opt for this option as approval rates are very high and most people have a car they can provide as collateral.  

Example: You take a $3000 dollar car title loan with an annual interest rate of 30% for 3 years. Your lender charges you $500 in fees. So, how much will this $3,000 loan cost you? According to this table, a $3,000 dollar loan can cost you an extra $2,348.9 dollars in fees and interest.  

Loan Amount$3000
Term3 years
Monthly Payment$148.58
Total Interest Paid$1,848.90
Total Amount Repaid $5,348.90

BHM Financial FAQs

Can I get a loan if I have a bankruptcy on my record?

Yes, at BHM Financials even those who’ve previously declared bankruptcy can still get a loan. BHM Financial provides loans based on your asset rather than your credit score or credit history. As such, those who have bad credit or have a bankruptcy on record can still get a loan with BHM Financial. 

Can I get a secured loan if I don’t have a clear title? 

No, in order to use your car (or another asset) for a loan, you must have a clear title. Moreover, your car must be no more than 8 years old and it must be insured in order to be used as collateral. 

Is a BHM secured loan the right choice for me?

If you’re worried about bad credit but have an asset like a car or house, BHM Financial is a great choice. They provide no credit check loans. Instead, they base your eligibility on the value of your asset. No matter what reason you need a loan, a BHM secured loan will cover you. Whether you want to purchase a vehicle, fund your business, or make a large purchase, BHM financial will provide you with the funds you need no matter how bad your credit score is. 

Offered Services

scroll table
Loan Range
Rate & Terms
Product Details
Requirements & Documents

Title Loan

$1,000 - $15,000
Interest Rate
Term (Months)
12 - 60
Funding Time
Less than 24 hours
Funding Method
Direct deposit
Repayment Options
  • Car must be less than 8 years old
  • Car must be paid off
  • Car must be insured
  • Clear title
  • 2 valid photo IDs
  • Proof of income
  • Proof of address
  • Photos of vehicle and vehicle’s odometer
  • Proof of insurance
  • Proof of ownership of the vehicle
  • Void cheque
  • 5 References

Reviews & Ratings

See what others have to say about BHM Financial

Smooth short term loan processed very efficiently. Very negotiable about early payout.

- Carlos (July 16, 2020)

I am a happy client. My loan approval was done over the phone and the staffs were very helpful in walking me through the process, step by step. All qu... read more

- Patricia (July 8, 2020)

This company helped me a lot in getting a fast loan with good flexibility in payments. Thanks to this awesome Loan Lender in Canada.

- Fred (July 7, 2020)

Don’t go for them. These types of financial corporations take advantage of people with all sorts of fees. Even payout fees are 3 monthly payment... read more

- Roland Leung (February 5, 2020)


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