Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Since 2006, easyfinancial (a subsidiary of goeasy TSX:GSY) has been committed to providing Canadian consumers with easy access to the loan products they need, even when banks have said no in the past.
easyfinancial offers personal loans from $1,000 – $35,000 with interest rates that are affordable and convenient.
Similar to any loan product available in Canada, getting approved for an unsecured personal loan ($1,000 – $15,000) through easyfinancial can require a few different qualifications on your part, including but not limited to:
Luckily, qualifying with easyfinancial is relatively easy compared to a lot of banks and credit unions in the country, where the application process sometimes blocks out borrowers who have low incomes, bad credit, or problems with unpaid debt.
On their website, easyfinancial claims to approve 88% of their customers within the same day they apply and that 60% of their customers started out with bad credit. So, it’s clear that even if you have lesser financial health, it’s at least possible to get approved for a loan and use it to better your situation.
Nonetheless, your financial health will affect the overall conditions of your loan. Generally speaking, the best loan offers can be accessed when you have:
easyfinancial may ask you to send them copies of certain personal and financial documents when you apply, such as:
Before you apply, it’s important to know that easyfinancial may check your credit prior to approving or declining your application and will report your payment activity to Canada’s major credit bureaus (Equifax and TransUnion) if approved.
As mentioned, one great thing about easyfinancial is that they have over 200 branches throughout every Canadian province, so you have the option of applying in person, over the phone or online. Although they don’t have any locations in Nunavut, the Yukon, or the Northwest Territories, residents who live there can still apply on their webpage.
If you need help, you can speak with one of their customer service agents by phone, email or using their live messaging system.
easyfinancial also offers secured personal loans ($15,000 – $35,000), wherein some form of collateral is required for approval, such as your home or another asset that hold value. You may prefer this option because good security can help you access more money, lower interest rates, and longer repayment terms, with less emphasis on your income.
Always be cautious when applying for a secured loan, as defaulting on too many of your future payments could result in your asset being seized. Additionally, there may be extra documents required when you apply, such as your most recent:
Another fortunate aspect of easyfinancial is that they offer a variety of financial products, each of which can serve a different purpose. Apart from personal loans, this lending institution also offers:
All this said, the main products that easyfinancial provides are their unsecured and secured loans, which are beneficial because approval is easy and quick to obtain. Although these loan types may be right or wrong for your particular financial situation, they do come with many attributes, such as:
Unsecured Loans | Basic unsecured personal loans come with repayment terms of 9 – 60 months, giving you plenty of time to cover your full debt balance. |
Secured Loans | Larger secured personal loans come with even longer repayment terms of 72 – 120 months. |
Loan Protection | They offer a loan protection plan that covers your first 6 months of payments in the event of sickness, injury, or loss of unemployment. This plan also covers 100% of your loan if you become critically ill or die. |
Eligibility | If you have recently gone through a bankruptcy, you can still be approved for a small loan, as long as your case has been fully discharged and you’re no longer involved with any court duties, such as credit counselling. |
Remember, not every loan product is the best financial solution for you and while the personal loans that easyfinancial offers can be helpful in more ways than one, the costs associated with them may be too much for your finances to handle.
Aside from your individual payments and final balance, here are a few other costs that you may encounter with an easyfinancial secured or unsecured personal loan:
Since these loan costs can have a drastic negative impact on your finances and credit if you default on any payments, it’s essential to only apply when you’re steadily employed and are sure you can afford them, even if you can’t work or lose your job entirely.
Since 2006, easyfinancial (a subsidiary of goeasy TSX:GSY) has been committed to providing Canadian consumers with easy access to the loan products they need, even when banks have said no in the past.
easyfinancial offers personal loans from $1,000 – $35,000 with interest rates that are affordable and convenient.
APR | Monthly Payment | Total Interest | Total Cost |
10% | $87.92 | $54.99 | $1,054.99 |
20% | $92.63 | $111.61 | $1,111.61 |
30% | $97.49 | $169.85 | $1,169.85 |
40% | $102.47 | $229.66 | $1,229.66 |
It’s always in your best interest as a consumer to make sure you understand all the pros and cons prior to applying for any type of loan.
easyfinancial’s goal has always been to listen to what Canadian consumers want and to say yes. Using one of their personal loans, you’ll not only be able to cover the cost of an expense, but you’ll work toward improving your credit with every payment you make.
With an easyfinancial loan in your bank account, you can:
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
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Personal Loan | $500 - $20,000 |
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Easy Financial fills an important void in the personal loan space. It offers fast and simple personal loans that are cheaper than most payday loans. Its website is easy to navigate. It also has many branches. You can visit one of its 300+ branches across Canada for help in person.
Application simplicity
Reputation
User experience
Information and transparency
Accessibility
Hello, I just got a loan from Easy Financial in Truro & Leah Mercer helped me, she is very professional, she is friendly & knowledgeable. she ... read more
Amandeep Kaur is the Sarnia office Financial Services Representative I dealt with today. Amandeep is very personable, had great knowledge, outlined ke... read more
Excellent services as always Amir
10/10 service got approved in a couple days.
Easy financial in Calgary was excellent!! Very friendly staff that really want to help. Navneet was professional and explained everything very well. T... read more
Bukola has managed my account at this company and continues to offer me excellent, professional service. She has been helpful with getting me a loan t... read more
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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