Best Loans Charlottetown, Prince Edward Island

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Referrer) Up to $50,000
100	1666051200	$20 - $100	0%	-	$20 - $100
100	1643932800	$500 - $15,000	+18.9% APR	6 - 60	$500 - $15,000
11	1639094400	$1,000 - $15,000	29.9% - 46.9% APR	12 - 60	$1,000 - $15,000
7	1637280000	$5,000 - $50,000	5.75% - 22.99%	Up to 84	$5,000 - $50,000
100	1623369600	Varies	0%	6 or 8 weeks	Varies
7	1620777600	Up to $35,000	9.99% - 46.96%	6 - 60	Up to $35,000
17	1607558400	$500 - $50,000	6.99% - 46.99%	12 - 36	$500 - $50,000
100	1600646400	$1,000-$7,500	12.99% - 29.99%	24 - 60	$1,000-$7,500
100	1598918400	$1,000 - $15,000	-	-	$1,000 - $15,000
100	1598832000	$500 – $15,000	+ 25.99%	9 - 60	$500 – $15,000
100	1595980800	$200 - $1,200	25% - 32%	-	$200 - $1,200
100	1593561600	-	0+	2 - 60	-
100	1582243200	-	-	Up to 60	-
100	1580947200	-	-	-	-
7	1580860800	$500 - $5,000	-	12 - 24	$500 - $5,000
100	1580860800	$350 - $1,000	-	2 - 12 weeks	$350 - $1,000
2	1580860800	$1,600 - $25,000	19.99% APR	36 - 60	$1,600 - $25,000
10	1580774400	$1,000 - $25,000	7.5% - 31.5% APR	36 - 60	$1,000 - $25,000
100	1579478400	$100 - $1,500	-	-	$100 - $1,500
100	1579478400	Up to $3,200	-	-	Up to $3,200
100	1579219200	$100 - $25,000	+4.9%	-	$100 - $25,000
100	1576713600	-	Up to 35%	-	-
18	1576713600	$500 - $100,000	6.99% - 14.99%	12 - 240	$500 - $100,000
100	1575590400	1800- 2900	15.99%	23 - 36	1800- 2900
100	1562198400	$500 - $15,000	15.99 - 39.99%	6 - 60	$500 - $15,000
100	1560124800	Up to $15,000	29.99% - 46.96%	9 - 60	Up to $15,000
9	1545955200	Up to $20,000	18.99% - 24.99%	36 - 84	Up to $20,000
8	1552262400	$1,000 - $15,000	19.90% - 46.90%	12 - 60	$1,000 - $15,000
100	1551830400	$100 - $1,000	546% APR	14 days	$100 - $1,000
100	1569974400	$500 - $50,000	15 - 30%	-	$500 - $50,000
100	1551830400	$1,000 - $15,000	19% - 46.95%	6 - 60	$1,000 - $15,000
100	1551398400	$500 - $1,000	28% - 32%	-	$500 - $1,000
100	1551139200	$5,000 - $35,000	9.9%+	6 - 60	$5,000 - $35,000
10	1551139200	Up to $15,000	19.99% APR	Open-end	Up to $15,000
100	1550534400	$300 - $25,000	7.95%+	36 - 60	$300 - $25,000
100	1550534400	Up to $1,500	Up to 59% APR	14 days	Up to $1,500
100	1550534400	$500 - $1,000	28% - 32%	3 -5	$500 - $1,000
100	1550534400	$300 - $1,000	38% APR	3 - 4	$300 - $1,000
100	1549411200	$100 - $1,000	546% APR	14 days	$100 - $1,000
100	1549238400	$500 - $1,000	28% - 32%	4 - 5	$500 - $1,000
100	1549238400	$250 - $1,000	29% APR	3 - 4	$250 - $1,000
20	1548720000	$500 - $1,000,000	7.9%	12	$500 - $1,000,000
100	1548720000	$1,000 - $50,000	4.6% – 49.96%	3 - 60	$1,000 - $50,000
100	1548633600	$300 - $7,500	29.9% - 39.9%	6 - 60	$300 - $7,500
100	1548633600	$50 - $1,500	-	14 days	$50 - $1,500
100	1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
100	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
1	1543622400	Up to $50,000	19.99% - 39.99%	6 - 120 Months	Up to $50,000
100	1545264000	$500 - $12,500	19.99%+	12 - 60	$500 - $12,500
100	1545350400	Up to $1000	30%	3 - 5	Up to $1000
100	1545350400	Up to $5,000	60%	6 - 60	Up to $5,000
100	1545350400	$500 - $2,500	29% - 46.95%	6 - 36	$500 - $2,500
100	1545350400	$500 - $1000+	28%-32%	3	$500 - $1000+
100	1545350400	$500 – $750	28% – 34.4%	3	$500 – $750
100	1545350400	$500 – $750	23% - 34.4%	3 – 12	$500 – $750
100	1545350400	$300 - $1500	27% - 35%	3 - 4	$300 - $1500
6	1545264000	$500 - $35,000	29.99% – 46.96%	9 - 84	$500 - $35,000
4	1545264000	$300 – $35,000	9.9% - 47.72%	24 - 60	$300 – $35,000
5	1545177600	$1,000 - $35,000	5.99% to 29.19%	36 - 60	$1,000 - $35,000
14	1545177600	Up to $20,000	19.99% - 46.8%	12 - 60	Up to $20,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Referrer) Up to $50,000
8	1669852800	$500 - $300,000	-	2 - 24 months	$500 - $300,000
100	1648512000	$10,000 - $250,000	Varies	6-12	$10,000 - $250,000
100	1620345600	-	-	12 - 60	-
100	1611878400	$5,000 - $30,000,000	-	Up to 18	$5,000 - $30,000,000
17	1607558400	$500 - $50,000	6.99% - 46.99%	6 - 36	$500 - $50,000
100	1598918400	-	-	-	-
100	1585612800	-	0.9% - 12%	6 months - 5 years	-
100	1581984000	$10,000 - $10,000,000	6% - 12.5%	-	$10,000 - $10,000,000
100	1581033600	-	-	-	-
100	1581033600	-	-	-	-
100	1580947200	-	-	-	-
100	1580947200	$10,000 - $1,000,000	-	-	$10,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	$5,000 - $1,000,000	-	-	$5,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	up to $250,000	-	-	up to $250,000
100	1580860800	-	-	-	-
100	1580688000	Up to $10,000	-	-	Up to $10,000
100	1580256000	$5,000 - $500,000	-	6 - 18 months	$5,000 - $500,000
100	1579478400	-	-	-	-
100	1579478400	$10,000- $30,000,000	Min 4.95%	-	$10,000- $30,000,000
100	1579478400	-	-	12 - 120	-
100	1579478400	-	-	24 to 60	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579046400	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1575849600	$5,000 - $150,000	15% +	6 - 24	$5,000 - $150,000
100	1575849600	Up to $250,000	-	-	Up to $250,000
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
1	1545955200	$5,000 - $150,000	Fee-Based: Starting at 9%	12 - 60	$5,000 - $150,000
100	1552262400	Up to $250,000	-	Up to 10 years	Up to $250,000
100	1552262400	Up to $1,000,000	-	-	Up to $1,000,000
100	1551830400	$10,000+	-	Up to 15 years	$10,000+
100	1551830400	Up to $1,000,000	-	Up to 15 years	Up to $1,000,000
100	1551830400	Up to $500,000	-	Up to 10 years	Up to $500,000
100	1551830400	$5,000 - $10,000	-	Up to 7 years	$5,000 - $10,000
100	1551398400	$3,500+	-	-	$3,500+
100	1551398400	$10,000 - $1,000,000	4% - 14%	12 - 84	$10,000 - $1,000,000
100	1551139200	Up to $75,000	-	Up to 18	Up to $75,000
100	1550534400	$500-$50,000	0.5% weekly	12 week cycles	$500-$50,000
100	1550534400	$1,000 - $1,000,000	6% - 20%	-	$1,000 - $1,000,000
100	1550534400	Up to $5,000,000	4.5%	24 - 72	Up to $5,000,000
100	1550534400	$5,000 - $200,000	-	-	$5,000 - $200,000
100	1549411200	$50,000 - $12,000,000	-	24 - 96	$50,000 - $12,000,000
100	1549411200	$5,000 - $1,000,000+	-	1 - 60	$5,000 - $1,000,000+
100	1549238400	$5,000 - $1,000,000	-	3 - 24	$5,000 - $1,000,000
100	1548720000	$5,000 - $5,000,000	-	4 - 18	$5,000 - $5,000,000
100	1548720000	Up to $100,000	6.05% +	60	Up to $100,000
100	1548720000	$10,000+	18% - 22%	-	$10,000+
100	1548720000	$10,000 - $300,000	4.70% - 5.45%	-	$10,000 - $300,000
5	1545177600	$1,000 - $35,000	5.6% – 25.5%	36 – 60	$1,000 - $35,000
100	1545264000	$5,000 - $250,000	-	3-18	$5,000 - $250,000
100	1545264000	$5,000 - $150,000	-	3 - 24	$5,000 - $150,000
100	1545350400	$5,000 – $100,000	15% +	12 – 18	$5,000 – $100,000
100	1545264000	$5,000 – $100,000	Starting at 6.87%	3 – 18	$5,000 – $100,000
100	1545177600	$5,000-$250,000	8% - 29% APR	6 - 18	$5,000-$250,000
100	1545177600	$5,000 – $500,000	Starting at 5.9%	3 – 60	$5,000 – $500,000
100	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1561507200	Up to $300,000	-	-	Up to $300,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Referrer) Up to $50,000
100	1632960000	Up to $50,000	13% +	12 -72	Up to $50,000
3	1624233600	Up to $50,000	29.99% – 46.96%	12 - 96	Up to $50,000
17	1607558400	$500 - $50,000	-	24 - 60	$500 - $50,000
100	1600646400	$1,000-$7,500	12.99% - 29.99%	12 - 84	$1,000-$7,500
6	1597104000	-	+4.99%	-	-
100	1594339200	-	-	-	-
100	1581033600	-	+ 4.9%	-	-
100	1581033600	-	-	-	-
100	1580688000	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1578873600	-	+8.99%	-	-
100	1578873600	-	-	-	-
100	1551830400	$5,000 - $10,000	-	up to 84	$5,000 - $10,000
100	1552262400	Up to $250,000	-	12 - 60	Up to $250,000
100	1552262400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1551830400	Up to $100,000	-	6 - 96	Up to $100,000
100	1551830400	$10,000+	-	12 - 96	$10,000+
100	1551830400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1577059200	-	-	up to 72	-
100	1577059200	-	-	-	-
100	1575849600	-	Starting at 4%	Up to 84	-
100	1575849600	$5000 - $45,000	4.90 % - 29.95% APR	36 - 72	$5000 - $45,000
100	1575849600	-	-	-	-
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
100	1575590400	-	14.5% to 29.9%	-	-
100	1575504000	-	-	-	-
2	1569974400	$7500 - $59,995	3.95% +	12 - 96	$7500 - $59,995
100	1562112000	-	Up to 49.9%	-	-
100	1561507200	-	-	-	-
100	1561507200	-	-	Up to 84	-
1	1560124800	Up to $100,000	3.99% - 19.9%	24 -96	Up to $100,000
100	1551830400	Up to $30,000	-	-	Up to $30,000
100	1548720000	-	-	-	-
100	1548633600	-	4.2%+	-	-
100	1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
100	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1545177600	Up to $50,000	-	-	Up to $50,000
100	1545177600	$5,000 – $40,000	-	12 – 72	$5,000 – $40,000
100	1545177600	-	-	Maximum 84	-

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Referrer) Up to $50,000
100	1578873600	$1,000 - $35,000	-	24 - 60	$1,000 - $35,000
100	1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
100	1545264000	Up to $25,000	-	12 - 60	Up to $25,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	N/A	N/A	N/A	N/A (Referrer) N/A
100	1627344000	-	1.94% - 2.45%	12 - 60	-
4	1545264000	$300 – $35,000	2.20% - 2.54%	36 - 60	$300 – $35,000
100	1581033600	-	2.74% - 6.30%	12 - 120	-
100	1580947200	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	2.64% - 4.45%	12 - 120	-
100	1580860800	$50,000+	2.74% - 3.49%	12- 120	$50,000+
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580688000	-	2.79% - 6.00%	6 - 60	-
100	1579478400	-	2.74% - 3.70%	6 - 120	-
100	1578873600	-	-	-	-
100	1578873600	-	2.69% - 3.95%	6 - 120	-
100	1577059200	-	-	-	-
100	1577059200	-	2.84% - 7.30%	-	-
100	1574899200	min 25,000	3.89.% - 4.84%	12 - 60	min 25,000
100	1560124800	-	2.89% - 3.79%	-	-
100	1548720000	-	2.41% - 3.84%	-	-
1	1517097600	$10,000+	Based on equity	-	$10,000+

		Services	Rating
0	0	Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation	N/A (Referrer) Debt Consolidation Program, Debt Settlem...
100	1576540800	Credit Counselling, Bankruptcy, Consumer Proposal	Credit Counselling, Bankruptcy, Consumer...
100	1576540800	Credit Counselling, Debt Management Program	Credit Counselling, Debt Management Prog...
100	1576368000	Credit Counselling, Debt Management Program	Credit Counselling, Debt Management Prog...

Named after the queen consort of the United Kingdom, Charlotte of Mecklenburg-Strelitz, Prince Edward Island’s capital city of Charlottetown was first established in 1855 and is populated by just over 34,500 residents. The city is well known for its abundance of Victorian-era buildings leading down to Peakes Wharf, a popular harbour for people docking all manner of sailing vessels, fishing trawlers, and cruise ships.

Due to Prince Edward Island’s position in the Gulf of Saint Lawrence, Charlottetown usually experiences mild temperatures of around 23 degrees Celsius during the summer months, making Brackley Beach a perfect hangout spot. The Confederation Centre of the Arts is another fun tourist attraction, where theatre lovers can go watch Canada’s most popular and longest-running musical, Anne of Green Gables – The Musical, adapted from Lucy Maud Montgomery’s classic novel.

Want some more information about loans in Prince Edward Island? Check this out.

Myths About Loans In Charlottetown

Charlottetown, like any other city in Canada, will have its fair share of lenders where you can apply for a loan. However, there are many myths surrounding the idea of loans, passed from borrower to borrower. Some of those myths are just facts that have been blown out of proportion, such as:

Only banks and other traditional financial institutions provide loans. Actually, banks and financial institutions are no longer the only lenders in town. There are plenty of other organizations out there that will grant you a loan with less hassle involved than with a traditional bank. Trying to compare lenders in Canada? Take a look at this.

Credit scores are the only thing that lenders look at while considering you for a loan. This is also false. Most lenders are going to look at a variety of factors before deciding to let you borrow, including your credit history, bankruptcy score, debt-to-income ratio, and your financial standing in general. In fact, some lenders don’t even check your credit score.

Your house is the only thing you can use as collateral to secure a loan. Yes, your house is an asset that can be used as collateral. However, you can also use any other property that’s of value, such as your car, a piece of land or your business/office.

Payday loans are a quick and easy option for those who need a small amount of money. While a payday loan is a fast way to get small sums of money, they are actually far less efficient and more costly, because they can put into a cycle of revolving debt and will charge far more in interest. Many places in North America are starting to outlaw them. Take a look at this infographic about the payday loan cycle.

Applying for a loan is a lengthy and difficult process. If you make sure to have all your proper financial documentation in order, then complete the loan application with honesty and efficiency, the loan process can go smoothly.

Preparing to Apply For a Loan In Charlottetown

When a lender is looking into your finances, they’re really checking for signs that you are responsible with your money and credit, in the past and in the present. After all, you are borrowing money from them, so they want to know if there’s any risk that you will file for bankruptcy and not be able to pay them back. So, when you want to apply for a loan, one of the best things you can do to improve your chances is to have all your financial information up-to-date and ready for inspection.

Wondering how applying for new credit affects your credit score? Find out here.

Before applying, you should also have an idea of how much you want to borrow and how much you’ll be able to afford during the repayment process. Remember, depending on your monthly income and size of the loan, paying the lender back in full could take months, if not years. While it’s not always required, another good first step is to check your credit, make sure that your debt-to-income ratio (which should not be more than 30-35%) is manageable. If you take out a large loan and have no way of paying it back, you’ll only be setting yourself up for further financial problems down the road.

Check out this debt timetable to see how ongoing debt would affect your finances.

Then, once you are certain that you have enough to finance the loan payments, do as much research as possible to find a legitimate lender that will suit your financial needs with the lowest interest rate and payment fees.

Loans and Your Credit Score

Another very important thing to remember about getting a loan in Charlottetown is that it will certainly affect your credit score. For instance, making your payments on time and in full will have a positive impact on your score, causing it to rise. On the other hand, if your payments are coming in late or you’re failing to pay them all together, your score will drop drastically, ruining your credit until you can build it back up again.

However, if you already have a low credit score, but wish to apply for a loan, don’t give up. While most banks will require a high score before they decide to let you borrow from them, there are many other lenders throughout Canada that won’t even check your credit score. The majority of lenders just want to be assured that you are trustworthy when it comes to your finances and your loan payments. So, if you’re being a responsible borrower, it will be very good for your credit. Make sure that your lender is reporting your payments to Canada’s major credit bureaus, Equifax and TransUnion.

Can you get a loan in Charlottetown with a credit score of 450? Find out here.

Looking for more information about your credit score? Check out this infographic.

Frequently Asked Questions

Will my loan application be rejected automatically if I don’t have a high credit score? Not necessarily. As we said, many lenders don’t even pull your credit score. What they really want to know is that you’re in good financial standing before approving you.
Which is better? A credit card or a loan? Depending on the size of the expense you’re trying to pay for, both forms of credit are acceptable. For instance, cheaper items like consumer goods can be paid for using a credit card (as long as you’re able to pay your monthly bill). However, it’s most likely better to pay for bigger purchases, like a house or car, with a loan in Charlottetown.
How can I get approved? There are many ways that you can get approved for the loan you need, including but not limited to:
- - Pulling your credit report and checking your credit score before applying. While many lenders don’t look at your credit score, it’s a good idea for your finances in general.
  - Shopping around and doing lots of research before committing to one lender.
  - Paying off any other debt you might have first.
  - Gathering all your important financial documents and organizing them properly.
  - Consider looking into online lenders, they might be better suited to your needs.

What if I don’t have a credit history? Can I still apply for a loan? Yes, you can still apply for a loan if you’ve never used a credit product (like a credit card). However, a responsible history of credit usage is definitely an asset, especially when applying for a larger loan (like a mortgage). Want to know how the length of your credit history affects your credit score? Check this out.
Why did the first lender I talked to ask for a security deposit? Steer clear! It is illegal in Canada for a lender to demand a payment before giving you a loan. Do not give them any personal or banking information and report them to the Charlottetown authorities. They are trying to scam you!
My bank rejected my application. Why did this happen? Most major banking institutions have certain criteria that they must adhere to. It’s possible that you don’t meet their standards for lending, possibly because you have a low credit score or a history of debt issues. Don’t worry, there are other lenders that can help you.
Once it’s approved, will my loan have an effect on my credit score? Absolutely. During the payment process, it’s essential that you make your payments on time and in the designated amounts. If you’re doing this, your credit score will be built up positively. On the contrary, if you’re not paying on time or you’ve stopped making payments altogether, your score will be damaged. To learn more about your payment history’s effect on your credit score, look here.
How long will it take for my lender to get me a loan? Depending on what kind of loan you applied for, it can take several business days for your loan to arrive. However, if you’ve been efficient during the application process by filling out your forms properly and having all the necessary documents in order, it can take as little as 24-hours.
Do I have to stick to the payment schedule or can I make payments sooner than expected? This is up to your chosen lender. Actually, most lenders don’t let you pay early because they won’t make as much in interest. Some lenders will allow advanced payments, but charge an extra fee to compensate for their loss. Wondering how lenders set their interest rates? Read this.

The Financing That’s Right For You!

If you’re in the market for a loan in Charlottetown, we can help. We partner with a wide variety of lenders and service providers all across P.E.I and Canada, submit an application today and get matched with a lender who meets your needs.

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