Compare The Best Providers For Loans Alberta December 2022

Written By Bryan Daly
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
Nyble
$20 - $100 0% -
$20 - $100
FlexMoney
$500 - $15,000 +18.9% APR 6 - 60
$500 - $15,000
Loanz
$1,000 - $15,000 29.9% - 46.9% APR   12 - 60
$1,000 - $15,000
Symple Loans
$5,000 - $50,000 5.75% - 22.99% Up to 84
$5,000 - $50,000
Afterpay
Varies 0% 6 or 8 weeks
Varies
Spring Financial
Up to $15,000 29.99% - 46.96% 9 - 60
Up to $15,000
Helium Loans
$500 - $50,000 6.99% - 46.99% 12 - 36
$500 - $50,000
LM Financial
$1,000 - $15,000 - -
$1,000 - $15,000
LM Credit
$500 – $15,000 + 25.99% 9 - 60
$500 – $15,000
FlexiLoans
$200 - $1,200 25% - 32%  -
$200 - $1,200
PayBright
- 0+ 2 - 60
-
Moves Financial
$2,500 15.65% AIR 13 - 26
$2,500
LendCare
- - Up to 60
-
ECN Capital
- - -
-
SimplyBorrowed
$500 - $5,000 - 12 - 24
$500 - $5,000
Pebble Cash
$350 - $1,000 - 2 - 12 weeks
$350 - $1,000
Refresh Financial
$1,600 - $25,000 19.99% APR 36 - 60
$1,600 - $25,000
goPeer
$1,000 - $25,000 7.5% - 31.5% APR 36 - 60
$1,000 - $25,000
North’n Loans
$100 - $1,500 - -
$100 - $1,500
MDG
Up to $3,200 - -
Up to $3,200
Loan or Credit
$100 - $25,000 +4.9% -
$100 - $25,000
Flexiti Financial
- Up to 35% -
-
Financeit
$500 - $100,000  6.99% - 14.99% 12 - 240
$500 - $100,000
Climb
1800- 2900  15.99% 23 - 36
1800- 2900
Pylo Finance
$500 - $15,000 15.99 - 39.99% 6 - 60
$500 - $15,000
Fresh Start Finance
Up to $15,000 29.99% - 46.96% 9 - 60
Up to $15,000
Marble
Up to $20,000 18.99% - 24.99% 36 - 84
Up to $20,000
Money Mart
$1,000 - $15,000 19.90% - 46.90% 12 - 60 
$1,000 - $15,000
Private Loan Shop
$500 - $50,000 15 - 30% -
$500 - $50,000
Progressa
$1,000 - $15,000 19% - 46.95% 6 - 60 
$1,000 - $15,000
My Canada Payday
Up to $1,500 15% - 19% 14 days
Up to $1,500
Mr. Payday
$100 - $1,500 15% - 17% 14 -31 days
$100 - $1,500
Money Provider
$500 - $1,000 28% - 32% -
$500 - $1,000
Loan Express
- - 14 days
-
Loan Away
Up to $5,000 19.9% - 45.9% APR 6 - 36
Up to $5,000
Lendful
$5,000 - $35,000 9.9%+  6 - 60
$5,000 - $35,000
LendDirect
Up to $15,000 19.99% APR Open-end
Up to $15,000
Health Smart Financial Services
$300 - $25,000 7.95%+ 36 - 60
$300 - $25,000
GoDay
$100 - $1,500 - 14 days
$100 - $1,500
iCash
Up to $1,500 15% - 23% -
Up to $1,500
Focus Financial Inc.
Up to $1,500 Up to 59% APR 14 days
Up to $1,500
FlexFi
$2,500 + - -
$2,500 +
Eastern Loans
$500 - $1,000 28% - 32%  3 -5
$500 - $1,000
DMO Credit
$300 - $1,000 38% APR 3 - 4
$300 - $1,000
Credit 700
$500 - $1,000 28% - 32%  4 - 5
$500 - $1,000
Credit2Go
$250 - $1,000 29% APR 3 - 4
$250 - $1,000
Ledn
$500 - $1,000,000 7.9% 12
$500 - $1,000,000
ATB Financial
Up to $5,000 - 12 - 60
Up to $5,000
Amber Financial
$1,000 - $50,000 4.6% – 49.96% 3 - 60 
$1,000 - $50,000
Affirm Financial
$300 - $7,500 29.9% - 39.9% 6 - 60
$300 - $7,500
310 Loan
$50 - $1,500 - 14 days
$50 - $1,500
Ferratum
$2,000 - $10,000 18.9% - 54.9% 12 - 60
$2,000 - $10,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Fast Access Financial
$500 – $10,000 Starting at 9.90% 12 - 36
$500 – $10,000
Fairstone Financial
Up to $50,000 19.99% - 39.99% 6 - 120 Months
Up to $50,000
Consumer Capital Canada
$500 - $12,500 19.99%+ 12 - 60
$500 - $12,500
Lamina
Up to $1000 30% 3 - 5
Up to $1000
Loans SOS
Up to $5,000 60% 6 - 60
Up to $5,000
Cashco Financial
Up to $7,000 - 6 – 60
Up to $7,000
UrLoan
$500 - $2,500 29% - 46.95% 6 - 36
$500 - $2,500
LoanMeNow
$500 - $1000+ 28%-32% 3
$500 - $1000+
Captain Cash
$500 – $750 28% – 34.4% 3
$500 – $750
BC Loans
$500 – $750 23% - 34.4% 3 – 12
$500 – $750
Urgent Loans
$300 - $1500 27% - 35% 3 - 4
$300 - $1500
easyfinancial
$500 - $35,000 29.99% – 46.96% 9 - 84
$500 - $35,000
Mogo Finance
$300 – $35,000 9.9% - 47.72% 24 - 60
$300 – $35,000
Borrowell
$1,000 - $35,000 5.99% to 29.19% 36 - 60
$1,000 - $35,000
Magical Credit
Up to $20,000 19.99% - 46.8% 12 - 60
Up to $20,000
Speedy Cash
Up to $1,500 15% - 23% 14 days
Up to $1,500
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
2M7 Financial Solutions
$10,000 - $250,000 Varies 6-12
$10,000 - $250,000
TD Bank
- - 12 - 60
-
Accord Financial
$5,000 - $30,000,000 - Up to 18
$5,000 - $30,000,000
Helium Loans
$500 - $50,000 6.99% - 46.99% 6 - 36
$500 - $50,000
Loop
- - -
-
Core Capital Group Inc
- - -
-
BarterPay
- 0.9% - 12% 6 months - 5 years
-
Clearbanc
$10,000 - $10,000,000 6% - 12.5% -
$10,000 - $10,000,000
GE Capital
- - -
-
We Can Financial
- - -
-
Wajax Equipment
- - -
-
Key Equipment Financing
- - -
-
Corl
$10,000 - $1,000,000 - -
$10,000 - $1,000,000
Yellowhead Equipment Finance Ltd
- - -
-
Specialty Truck Financing
- - -
-
Travelers Financial
- - -
-
Peel Financial
- - -
-
Pioneer Financial Services
$5,000 - $1,000,000 - -
$5,000 - $1,000,000
Polaris Leasing
- - -
-
Patron West
- - -
-
Payability
up to $250,000 - -
up to $250,000
Planet Financial
- - -
-
Rise
Up to $10,000 - -
Up to $10,000
Merchant Growth
$5,000 - $500,000 - 6 - 18 months
$5,000 - $500,000
Onesta
- - -
-
Lionhart Capital
$10,000- $30,000,000 Min 4.95% -
$10,000- $30,000,000
Lift Capital
- - 12 - 120
-
Leaseline
- - 24 to 60
-
Lease Direct
- - -
-
John Deere
- - -
-
Hitachi Capital Canada
- - -
-
Guardian Leasing
- - -
-
Export Development Canada
- - -
-
Essex Lease Financial Corporation
- - -
-
Equilease
- - -
-
Alliance Financing Group LTD
$5,000 - $150,000 15% + 6 - 24
$5,000 - $150,000
CanaCap
Up to $250,000 - -
Up to $250,000
CLE Capital
- - -
-
Canada Equipment Loan
- - -
-
SharpShooter Funding
$5,000 - $150,000 Fee-Based: Starting at 9% 12 - 60
$5,000 - $150,000
First West Credit Union
$500,000 - $10,000,000 - -
$500,000 - $10,000,000
ATB Financial
Up to $5,000 Prime +7% or 8% 36 - 60
Up to $5,000
Laurentian Bank of Canada
Up to $250,000 - Up to 10 years
Up to $250,000
HSBC Bank Canada
- - -
-
National Bank
Up to $1,000,000 - -
Up to $1,000,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - Up to 15 years
$10,000+
Scotiabank
Up to $1,000,000 -   Up to 15 years
Up to $1,000,000
Bank of Montreal (BMO)
Up to $500,000 - Up to 10 years
Up to $500,000
Royal Bank of Canada (RBC)
$5,000 - $10,000 - Up to 7 years
$5,000 - $10,000
CWB National Leasing
$3,500+ - -
$3,500+
Money in Motion
$10,000 - $1,000,000 4% - 14% 12 - 84
$10,000 - $1,000,000
Lease Link
Up to $75,000 - Up to 18
Up to $75,000
FundThrough
$500-$50,000 0.5% weekly 12 week cycles
$500-$50,000
Econolease Financial Services Inc.
$1,000 - $1,000,000 6% - 20% -
$1,000 - $1,000,000
Easylease Corp
Up to $5,000,000 4.5% 24 - 72
Up to $5,000,000
Dynamic Capital
- - -
-
Capify
$5,000 - $200,000 - -
$5,000 - $200,000
Canadian Equipment Finance
$50,000 - $12,000,000 - 24 - 96
$50,000 - $12,000,000
Capital Key
$5,000 - $1,000,000+ - 1 - 60
$5,000 - $1,000,000+
Cashbloom
$5,000 - $1,000,000 - 3 - 24
$5,000 - $1,000,000
BFS Capital
$5,000 - $5,000,000 - 4 - 18
$5,000 - $5,000,000
BDC
Up to $100,000 6.05% + 60
Up to $100,000
Baron Finance
$10,000+ 18% - 22% -
$10,000+
B2B Bank
$10,000 - $300,000 4.70% - 5.45% -
$10,000 - $300,000
AOne Financial Solutions
Up to $5,000,000 5% - 10% 12 - 60
Up to $5,000,000
Borrowell
$1,000 - $35,000 5.6% – 25.5% 36 – 60
$1,000 - $35,000
iCapital
$5,000 - $250,000 - 3-18
$5,000 - $250,000
Lendified
$5,000 - $150,000 - 3 - 24
$5,000 - $150,000
IOU Financial
$5,000 – $100,000 15% + 12 – 18
$5,000 – $100,000
Company Capital
$5,000 – $100,000 Starting at 6.87% 3 – 18
$5,000 – $100,000
OnDeck
$5,000-$250,000 8% - 29% APR 6 - 18
$5,000-$250,000
Lending Loop
$5,000 – $500,000 Starting at 5.9% 3 – 60
$5,000 – $500,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Thinking Capital
Up to $300,000 - -
Up to $300,000
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
SafeLend
Up to $50,000 8.99 + 12 -72
Up to $50,000
Auto Credit Deals
Up to $50,000 29.99% – 46.96% 12 - 96
Up to $50,000
Helium Loans
$500 - $50,000 - 24 - 60
$500 - $50,000
Alphera Financial Services
- - -
-
Go Auto
- - 12 - 96
-
Eden Park
- 11.9% - 22.9% Up to 84
-
WeFinanceCars
- + 4.9% -
-
Walker Financial Services
- - -
-
Rifco
- - -
-
National Powersports Financing
- - -
-
LMG Finance
- - -
-
Loans2Go
- - -
-
iA Auto Finance
- +8.99% -
-
Gamache Group
- - -
-
Royal Bank of Canada (RBC)
$5,000 - $10,000 - up to 84
$5,000 - $10,000
Laurentian Bank of Canada
Up to $250,000 - 12 - 60
Up to $250,000
National Bank
Up to $1,000,000 - up to 96
Up to $1,000,000
Desjardins
Up to $100,000 - 6 - 96
Up to $100,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - 12 - 96
$10,000+
Scotiabank
Up to $1,000,000 - up to 96
Up to $1,000,000
Daimler Truck Financial
- - up to 72
-
DealerPlan Financial
- - -
-
Coast Capital Savings
- Starting at 4% Up to 84
-
Canada Auto Finance
$5000 - $45,000 4.90 % - 29.95% APR 36 - 72 
$5000 - $45,000
Credit River Capital Inc
- - -
-
Capital Trust Financial
- - -
-
Canadian Truck Loan
- - -
-
Canada Car Loans
- - -
-
Calmont Leasing
- - -
-
Car Loans Canada
$7500 - $59,995 3.95% + 12 - 96
$7500 - $59,995
Car Creditex
- Up to 49.9% -
-
Auto Capital Canada
- - -
-
Carfinco
- - Up to 84
-
Canada Drives
Up to $100,000 3.99% - 19.9% 24 -96
Up to $100,000
Prefera Finance
Up to $30,000 - -
Up to $30,000
Approve Canada
- - -
-
2nd Chance Automotive
- 4.2%+ -
-
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Splash Auto Finance by Rifco
Up to $50,000 - -
Up to $50,000
Carloans411
$5,000 – $40,000 - 12 – 72
$5,000 – $40,000
AutoArriba
- - Maximum 84
-
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
Instant Loans Canada
$1,000 - $35,000 - 24 - 60
$1,000 - $35,000
Fast Access Financial
$500 – $10,000 Starting at 9.90% 12 - 36
$500 – $10,000
BHM Financial
Up to $25,000 - 12 - 60
Up to $25,000
Provider Loan Amount Rate Term (Months) Rating
N/A N/A N/A
N/A (Referrer)
N/A
Peoples Bank
- 1.94% - 2.45% 12 - 60
-
Spring Financial
Up to $15,000 - -
Up to $15,000
Mogo Finance
$300 – $35,000 2.20% - 2.54% 36 - 60
$300 – $35,000
Mortgage Alliance
- 2.74% - 6.30% 12 - 120
-
Paradigm
- - -
-
Verico
- - -
-
True North Mortgage
- 2.64% - 4.45% 12 - 120
-
Tangerine
$50,000+ 2.74% - 3.49% 12- 120
$50,000+
Think Financial
- - 36 - 60
-
Turnedaway
- - -
-
REICO
- - -
-
Motusbank
- 2.79% - 6.00%  6 - 60 
-
Mortgage Architects
- 2.74% - 3.70% 6 - 120
-
IntelliMortgage
- - -
-
Invis
- 2.69% - 3.95% 6 - 120 
-
Equitable Bank
$25,000 - $800,000 4.59% - 5.64% 6 - 60
$25,000 - $800,000
Dominion Lending Center
- - -
-
Fisgard Asset Management
- -- -
-
First National Financial LP
- 2.84% - 7.30% -
-
CMLS Financials
$100,000 - $750,000 - 12 - 120
$100,000 - $750,000
CHIP Reverse Mortgage
min 25,000 3.89.% - 4.84% 12 - 60
min 25,000
CanWise
- 2.23% - 4.45% -
-
Centum
- 2.89% - 3.79% -
-
Capital Direct
$10,000 - $1,500,000 Varies 12 - 24
$10,000 - $1,500,000
Broker Financial Group Inc.
- 2.41% - 3.84% -
-
Bridgewater Bank
- - -
-
Alpine Credits
$10,000+ Based on equity -
$10,000+
Provider Services Rating
Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation
N/A (Referrer)
Debt Consolidation Program, Debt Settlem...
BDO
Credit Counselling, Bankruptcy, Consumer Proposal
Credit Counselling, Bankruptcy, Consumer...
Full Circle Debt Solutions Inc
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...
Consolidated Credit
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...
4Pillars
Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring
Debt Restructuring, After Care - Credit ...

Types Of Loans In Alberta

There are several different types of loans available in Alberta. Depending on what you need the money for one loan will prove more suitable than the other. 

Personal Loans In Alberta 

With a personal loan, your lender will loan you a lump sum of money that you’re required to repay via installment payments over a specified loan period, with interest. Personal loan amounts range from anywhere between $1,000 to $35,000, with loan terms from 1 to 5 years, though these figures may vary by lender. 

Interest rates can range quite a bit, from 4% to 46%, depending on the lender, loan amount, and your creditworthiness. 

What Can You Use A Personal Loan For?

The funds from a personal loan can be used for just about any purpose – as long as it’s legitimate – such as home repairs, car repairs, college tuition, big vacations, or debt consolidation.

Payday Loans In Alberta

Unlike a personal loan, a payday loan must be repaid in one lump sum, usually by the time you receive your next paycheque. Payday loans are short-term, high-interest loans for amounts of no more than $1,500. 

Repayment terms are typically 2 weeks, though they can be as long as 62 days. Interest rates are among the highest in the industry, with APRs soaring as high as 500% or more. 

Note: Since payday loans are so expensive and don’t come with very much time to repay the borrowed funds, they should only be considered as a last resort. If you don’t pay back your payday loan on time, you’ll be stuck with even more interest and fees. To Learn about the payday loan laws in your province, click here.

Car Loans In Alberta

A car loan is a type of financing that is meant to help cover the cost of a vehicle purchase. Your lender will provide you with a lump sum of money that you use to pay for the car, then the loan is repaid through fixed installments with interest over the loan term. 

Car loans are secured loans, which means the vehicle collateralizes the loan. Because there’s collateral, the loan is less risky for the lender. That means interest rates are usually lower with car loans compared to unsecured loans. 

Mortgages In Alberta

Similar to a car loan, a mortgage is a loan that is secured by the asset you’re buying. In this case, a mortgage is designed to help homebuyers purchase a home. The loan, along with interest, must be repaid through installment payments over the loan term until the entire amount owed is paid back. Mortgages usually have 5-year terms and an amortization period between 10 to 25 years. 

If you fail to make payments at some point, the lender has the right to repossess the property. 

Student Loans In Alberta

Student loans are used to cover the cost of post-secondary tuition fees and can be obtained from private lenders, the bank or the government.   

  • Government – If you take out a government-issued student loan, you’ll need to apply directly with your province or territory of residence. The amount you’re given is calculated at the time of application and is based on the cost of your studies, your household income if you have dependents, and if you have a disability.
  • Bank – Many banks offer special loans and lines of credit for students. Like the government, they often have flexible payment schedules that allow you to repay the loan after finishing school. 
  • Private Lenders – Many private lenders will provide installment loans you can use to fund your studies. However, generally speaking, you’ll have to start repaying your student loan after it is issued, though, some lenders may offer a grace period. 

Other Loans You Can Get In Alberta

  • Debt consolidation loans
  • Business loans
  • Emergency loans
  • Home renovation loans
  • Medical loans
  • Wedding loans
  • Tax debt loans
  • Bridge loans
  • Vacation loan
  • Vehicle repair loans

Can You Get A Loan In Alberta With No Bank Verification? 

A ‘no bank verification’ loan is one that does not require an active bank account. Under normal circumstances, lenders in Alberta usually require borrowers to have a bank account for funding and repayment purposes. But such is not the case with a no bank verification loan. 

If you don’t have an account, you may still be able to secure a loan. You won’t need to provide the lender with any paperwork to prove you have a bank account, but you’ll still have to provide evidence of a sufficient income and a steady job. 

Can You Get A Loan In Alberta With No Refusal?

A ‘no refusal’ loan is a type of loan in which you will not be turned down due to poor credit. As long as your income and employment status checks out, your lender won’t refuse your loan application despite a bad credit score.  

Loans with no refusal are short-term loans that promise fast funding. You can get access to borrowed funds within hours following loan application approval. 

Can You Get A Loan In Alberta With Instant Approval?

Some lenders promise instant approval after application submission. These loans are typically payday loans, which are short-term loans that offer quick funding with little lending criteria to meet. 

However, it’s important to note that no legitimate lender will provide you with a loan without some sort of underwriting process. Generally, instant approvals are pre-approvals, which are estimates of what you may qualify for if the information you provided checks outs. 

Documents Required To Apply For A Loan In Alberta

In order for lenders to verify your identity, financial health, and creditworthiness, they’ll usually need to assess the following documents:

  • Personal identification. To verify your identity, the lender will want to look at your driver’s license, passport, or any other government-issued photo ID.
  • Income and employment. A steady job and reliable income are usually required for a loan. To prove your employment status and income, you can provide your lender with pay stubs, bank statements, tax receipts, an employment letter, and anything else that proves your financial status.
  • Additional documents for a car loan. If you’re taking out an auto loan, the lender will also need the Vehicle Identification Number (VIN), the purchase price of the vehicle, and the year, make, and model of the car. They may also want to see proof of insurance.
  • Additional documents for a mortgage. If you’re applying for a home loan, the lender will need additional documentation, including the legal description of the property, Purchase Agreement, proof of insurance, and confirmation of the down payment source.

Steps On How To Apply For A Loan In Alberta

To apply for a loan in Alberta, follow these steps.

Step 1. Compare Lenders And Choose One To Apply With

Shop around before picking a lender. Doing so will help you find the best interest rate and loan terms based on your financial and credit health. 

To make it easier for you, use an online loan aggregator. Simply input a few pieces of information about yourself and your finances, and the aggregator will automatically populate a list of lenders and the loan options available to you.

Step 2. Fill Out The Application And Provide Documents

Once you’ve chosen a lender to work with after doing some comparison shopping, it’s time to apply for the loan. Complete the lender’s loan application, either online or in-person, and make sure all information provided is accurate. 

You’ll also need to submit all documents requested by the lender, which may vary based on the exact loan type you’re applying for. If the lender wants to conduct a credit check, you’ll need to provide consent. This will be considered a “hard” inquiry, which can have a slight impact on your credit score. 

Step 3. Wait For The Loan Offer

After a careful review of your loan application and accompanying documents, the lender will notify you about your approval status. If approved, you’ll receive a formal offer for a loan, along with all the details, including the interest rate, repayment schedule, and loan term. 

Step 4. Wait For The Funds

Following the offer acceptance, you should receive the funds shortly after. If you applied for a loan with an online lender, you can expect to receive the money much sooner than you would with a conventional lender. Depending on the loan type, you could get access to the funds in as little as a few minutes to as long as a few days. 

How To Calculate The Cost Of A Alberta Loan

There are numerous factors that can affect the cost of your loan. Interest rate, loan term, loan amount, payment frequency and fees are all factors that can affect your loan cost.To help you calculate the cost of your loan, consider using a loan calculator. 

Loan Calculator

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How To Increase Your Chances Of Getting Approved For A Loan In Alberta

While the application process for getting a loan may look like a long and troublesome task, it doesn’t have to be. Actually, there are a number of things you can do to gain a better chance of securing the loan you desire, such as:

  • Improve Your Credit Get a credit check before applying to ensure your credit is in good standing. The more favorable credit score you have, the better. 
  • Pay Down Your Debts – Make sure that any other outstanding debts you might have, are paid off in full. Make sure to check your debt-to-income ratio on a regular basis.
  • Choose The Right Lender – Make sure you choose the right lender to suit your needs. Before applying, do as much research as possible and review all your options. There are many different lenders out there. Before choosing one, be sure to look into all the best-rated organizations and determine which is right for you. Remember, banks are not the only lenders in town.
  • Get A Co-Signer – If you haven’t had any luck getting approved yet, it’s a good idea to have a trusted friend or family member co-sign the loan with you

Dealing With Fraud

Just like in every province in Canada, Alberta sees its fair share of fraud cases each year. Fraud is always a terrible crime, one that can take months, if not years to deal with. It can cause financial devastation to anyone and everyone, regardless of who they are or what their income is. Because of this, it is extremely important to be responsible with your personal and financial information. Be wary of anyone suspicious who asks for your information, especially over the phone or on the internet. Scammers and thieves have come up with some creative ways to steal your identity using modern technology, so think before you act.

Alberta Loan FAQs

Can I get a loan in Alberta with bad credit?

Yes, many lenders in Alberta are specifically designed to help borrowers with bad credit. Rather than basing their approval on your credit score, they take your over financial health into consideration instead. This includes your income level, debt-to-income ratio, employment stability, and other significant factors.

Can I get a no credit check loan in Alberta?

Yes, you can get a no credit check loan in Alberta. In general, you can expect no credit checks when you apply for payday loans, car title loans, guarantor loans, and some personal loans. However, you should be aware that these loans come with a lot of risks due to the high-interest rates charged and collateral added.

Can I get a loan in Alberta with government income sources?

While banks and credit unions would not accept government benefits as a source of income many alternative lenders in Alberta will accept it.  Whether you receive your income from Canada Child Benefits (CCB), Canada Pension Plan (CCP), Employment Insurance (EI) or any other income from the government, you can still get a loan in Alberta.

How long will a lender place a lien on your car loan in Alberta?

The lender places a lien on the car title until the loan is fully repaid. 

When do I have to start making my student loan payments in Alberta?

Government-issued student loans are repaid over a specific time period via regular payments, but you don’t have to start making payments while you’re still in school. You may also be granted a grace period once you graduate. But after that grace period ends, you’ll need to start making regular payments until the outstanding balance is paid in full.  Payments made in the first 6 months following graduation will go directly to the principal portion of the loan. If you manage to pay the loan off during this time period, you won’t pay any interest.

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Remember, we’re always here to help you get the financing you want. Look no further, because Loans Canada has the solution!

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