Fresh Start Finance Reviews, Ratings And Fees February 2023

Based on 16
Customer Reviews
600, Two Bentall Centre 555 Burrard Street
Vancouver, British Columbia
V7X 1M8

Who Is Fresh Start Finance

Update: Fresh Start Finance has been rebranded as Spring Financial, click here to learn more.

Let’s talk about Fresh Start Finance, where personal loans are made easy. As an affordable and convenient alternative to payday loans in Canada, this online lender can set any Canadian up with the financing they need. If you’re struggling financially and your bank says no, Fresh Start may be the solution you’ve been looking for.

How Do Canadians Qualify With Fresh Start Finance?

Unlike many banks and other prime lenders in Canada, Fresh Start Finance seems to take in clients who have lesser finances and lower credit scores. However, there are still a few different standards to pass in order to qualify for a loan or create an account.

To be eligible for a personal loan through Fresh Start Finance, you may need:

  • Proof that you’re the age of majority in your province/territory (18-19+)
  • Proof that you have steady employment/income (recent pay-stubs, etc.)
  • An active banking account with direct deposit capability
  • A credit report & credit score to examine

At the moment, their site doesn’t have too much information about the full requirements for their loan products (see their General Terms of Service page to learn more), but you may also have to fill out various personal details, such as your name and residency. The better your financial health is when you apply, the better your interest rate and overall loan conditions will be. 

How Can Someone Apply With Fresh Start?

Like most online-based lenders, the Fresh Start Finance webpage offers up an application process that takes a few minutes to complete. As long as all your information checks out, you should receive a loan quote within 24-hours. After that, the decision is up to you.

If you accept the offer, it may take one or two business days to receive the loan by direct deposit.

What Features Does a Fresh Start Personal Loan Have?

In essence, Fresh Start Finance offers simple personal loans with minimal requirements, which is part of what makes their products appealing. Nonetheless, it’s always a good idea to weigh the positive and negative aspects of any lender’s services prior to applying with them. After all, you want what’s best for your financial situation. 

Here are a few features that come with a Fresh Start personal loan:

  • No hidden or administrative fees will be added to your final loan balance 
  • Their interest rates are adjustable and displayed on their website
  • Repayment terms are also flexible (9 – 60 months)

What Costs Might Be Included With a Fresh Start Personal Loan?

As previously mentioned, one of the best parts about applying with Fresh Start Finance is that you shouldn’t be subject to any of the administrative fees that might accompany a personal loan from a more traditional lender. 

However, apart from the principal loan balance, the largest cost that you’ll have to watch out for with Fresh Start is their interest rates, which are relatively high and range from 29.99% – 46.96%. Although these rates may be adjusted according to your financial health, as well as your home province or territory, they can certainly drive up the full cost of your loan throughout your repayment term. 

That said, this is the case for most lenders that accept clients who have bad credit, low incomes, or recent problems with debt management, so bear that in mind whenever you’re searching for credit.

What Are The Pros and Cons of Applying With Fresh Start Finance?

Remember, weighing the positive and negative features of your chosen lender is an essential part of the pre-application process. Take a look at the list below before you apply for a personal loan through Fresh Start Finance:


  • Processing and approval times are quick compared to other lenders 
  • Reasonably sized loans may be offered to qualified clients
  • No extra fees will be added to your final loan balance


  • High-interest rates involved
  • Not enough information concerning loan requirements or costs

Fresh Start Finance FAQs

How do I apply for a loan with Fresh Start? 

Applying for Fresh Start can be described in 3 steps. 
  • Fill out the online application form
  • Receive a loan agreement
  • Provide your banking information and get funded
  • Who is eligible for a loan with Fresh Start? 

    To be eligible for a loan the applicant must be a Canadian citizen who is at least the age of majority in their province. 

    What information do I have to provide for a personal loan? 

    In general, you will be required to provide proof of identity, proof of income, and certain bank information for payments. 

    How could a personal loan affect my credit?

    At the moment, the Fresh Start website does not clearly state whether they will check your credit when you apply, but that is a standard approval requirement with many lenders in Canada. Here’s what could happen if your lender reports to our country’s main credit bureaus (Equifax and TransUnion):
    • A hard inquiry will show up on your credit report for several months, causing a small, temporary decrease in your credit score. 
    • If you accept the loan, an account will be opened under it and will receive a credit rating from 1-9, in this case, labelled “I” because the loan is installment-based.
    • If you follow your repayment plan responsibly, your timely payments will improve your credit and make it easier to get approved for favourable credit products in the future. 
    • Late, short, and missed payments, on the other hand, will have a totally opposite

    How often will I have to make loan payments?

    Fresh Start offers repayment terms of 9 – 60 months that can be adjusted if you have strong finances, possibly allowing for these types of payment frequencies:  
    • Bi-weekly (26 installments/year)
    • Weekly (52 installments/year)
    • Semi-monthly (24 installments/year)
    • Monthly (12 installments/year)

    Offered Services

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

    Personal Loan

    Up to $15,000
    Interest Rate
    29.99% - 46.96%
    Term (Months)
    9 - 60
    Funding Time
    Funding Method
    Repayment Options
    Must be age of majority in your province

    Reviews & Ratings

    Reviews From Experts

    Fresh Start Finance has a clean website that loads quickly and clearly outlines its fees. Its website is mobile friendly and its application form is easy to complete. My only complaints are that it lacks educational content or a blog and doesn’t have a chat service on its website.

    Application simplicity


    User experience

    Information and transparency


    Written by: Sean Cooper
    Posted on June 27, 2019

    See what others have to say about Fresh Start Finance

    Really happy with the agent I spoke with!

    - Great service (December 24, 2020)

    My loan got approved in just 2 days. Thank you so much!

    - Alyssa (December 9, 2020)

    Very knowledgeable and genuinely wanting to help. They provided great advice and was able to provide me with what I needed to move forward. Thank you!... read more

    - Amy (December 9, 2020)

    I applied online and was contacted the same day. It’s a good service for people who need immediate funds.

    - Lorie (December 7, 2020)

    For my opinion, they are doing their job, by calling or texting, some one said he is not stupid, but actually he is. Bank and private lenders never ev... read more

    - Shah (October 6, 2020)

    One star for a company that just wants your info.. said I could easily get a loan then after a hour on the phone (half hour on hold hearing the same d... read more

    - Dax (July 22, 2020)

    Interest is very high but they were the only ones who were willing to give me the loan. It was pretty fast and smooth so I’ll give them that

    - Jacob Runelli (July 13, 2020)

    I have a loan with the bank with the interest rate of 8%. I was looking around whether I could drop the interest rate little bit. Julie, loan speciali... read more

    - Jana Urbanovska (July 13, 2020)

    Great Lender. Thanks for the help.

    - Bob (June 29, 2020)

    Very disappointing to say the least. They are too quick to take all your personal information and then they dont call you back. Even after numerous at... read more

    - Rose (June 16, 2020)

    I made the mistake of inquiring once and now they won’t stop calling and emailing me. Please stop.

    - Mike (April 21, 2020)

    I filled out the forms sent in photos of requirements I never heard back from them.

    - Dorothy (July 2, 2019)

    If you need help right away Fresh Start is a good place to start. I’m happy with the person I spoke to.

    - Beth (June 10, 2019)

    Not bad, I got the money I needed. Easy to deal with.

    - Alex Wight (May 6, 2019)

    Look, they’re a bit expensive. Needed the cash though and it all worked out.

    - Brad (December 29, 2018)


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