Compare The Best Providers For Loans Montreal November 2021

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
Iceberg Finance
$1,000 - $3,000 12.99% - 22.99% 24 - 60
$1,000 - $3,000
LM Financial
$1,000 - $15,000 - -
$1,000 - $15,000
FlexiLoans
$200 - $1,200 25% - 32%  -
$200 - $1,200
PayBright
- 0+ 2 - 60
-
Credit Matik
$250 - $1,250 22% 3 - 6
$250 - $1,250
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
Prêt Express 911
$250 - $1,250 22% APR -
$250 - $1,250
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
Fresh Start Finance
Up to $15,000 29.99% - 46.96% 9 - 60
Up to $15,000
Payday King
$100 - $1,000 546% APR 14 days
$100 - $1,000
Private Loan Shop
$500 - $50,000 15 - 30% -
$500 - $50,000
Money Provider
$500 - $1,000 28% - 32% -
$500 - $1,000
Lendful
$5,000 - $35,000 9.9%+  6 - 60
$5,000 - $35,000
Health Smart Financial Services
$300 - $25,000 7.95%+ 36 - 60
$300 - $25,000
Fina Capitale
Up to $50,000 14% - 34% Up to 60
Up to $50,000
DMO Credit
$300 - $1,000 38% APR 3 - 4
$300 - $1,000
Capital Cash
$100 - $1,000 546% APR 14 days
$100 - $1,000
Cash Depot
$300 - $1,500 32% APR 3 - 5
$300 - $1,500
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 12% 12
$500 - $1,000,000
Fairstone Financial
Up to $50,000 19.99% - 39.99% 6 - 120 Months
Up to $50,000
LendingMate
$2,000 – $10,000 34.9% – 43% 12 - 60
$2,000 – $10,000
Lamina
Up to $1000 30% 3 - 5
Up to $1000
Loans SOS
Up to $5,000 60% 6 - 60
Up to $5,000
514 Loans
Up to $3,000 22% - 35% 3 - 4
Up to $3,000
LoanMeNow
$500 - $1000+ 28%-32% 3
$500 - $1000+
Urgent Loans
$300 - $1500 27% - 35% 3 - 4
$300 - $1500
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
TD Bank
- - 12 - 60
-
Accord Financial
$5,000 - $30,000,000 - Up to 18
$5,000 - $30,000,000
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
- - -
-
Lift Capital
- - 12 - 120
-
Leaseline
- - 24 to 60
-
Lease Direct
- - -
-
John Deere
- - -
-
Hitachi Capital Canada
- - -
-
Export Development Canada
- - -
-
Essex Lease Financial Corporation
- - -
-
Equilease
- - -
-
Alliance Financing Group LTD
$5,000 - $150,000 15% + 6 - 24
$5,000 - $150,000
CLE Capital
- - -
-
Canada Equipment Loan
- - -
-
SharpShooter Funding
$5,000 - $150,000 Fee-Based: Starting at 9% 12 - 60
$5,000 - $150,000
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
Desjardins
Up to $100,000 - -
Up to $100,000
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
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
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
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
Lendified
$5,000 - $150,000 - 3 - 24
$5,000 - $150,000
IOU Financial
$5,000 – $100,000 15% + 12 – 18
$5,000 – $100,000
Lending Loop
$5,000 – $500,000 Starting at 5.9% 3 – 60
$5,000 – $500,000
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
Auto Credit Deals
Up to $50,000 29.99% – 46.96% 12 - 96
Up to $50,000
Iceberg Finance
$1,000 - $3,000 12.99% - 29.99% 12 - 72
$1,000 - $3,000
Alphera Financial Services
- - -
-
WeFinanceCars
- + 4.9% -
-
Walker Financial Services
- - -
-
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
- - -
-
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
- - -
-
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
Approve Canada
- - -
-
2nd Chance Automotive
- 4.2%+ -
-
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
BHM Financial
Up to $25,000 - 12 - 60
Up to $25,000
Provider Loan Amount Rate Term (Months) Rating
$25,000 - $150,000 1% monthly 12
$25,000 - $150,000
N/A N/A N/A
N/A (Referrer)
N/A
Peoples Bank
- 1.94% - 2.45% 12 - 60
-
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+
Turnedaway
- - -
-
REICO
- - -
-
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
- - -
-
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% -
-
Broker Financial Group Inc.
- 2.41% - 3.84% -
-
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...
Raymond Chabot
Bankruptcy, Consumer Proposal
Bankruptcy, Consumer Proposal...
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 ...

Montreal is the second largest city in Canada, with a population of just over 1.7 million residents. It is a multicultural hub, home to people from all over the world. Smack in the middle of the St. Lawrence and Ottawa River junctions, Montreal is famous for Mont-Royal, the mountain right in the heart of the city, a popular area for hiking, tobogganing, and skating during the winter. At the base of the mountain is a statue dedicated to one of the city’s founding fathers, Sir George-Étienne Cartier, where hundreds of tourists gather to sit and enjoy the summer months.

Montreal also plays an important part in a number of different industries, including fashion, business, tourism, art, and commerce. Every summer the city welcomes millions of tourists who visit to experience the many shows and events the city has to offer, like the International Jazz Festival, the Just for Laughs Festival, and the Osheaga Music & Arts Festival. The city is also home to the N.H.L team, the Montreal Canadiens, and was the birthplace of renowned Canadian author, Mordecai Richler.

Want some information about loans in the rest of Quebec? Find it here.   

Loan Myths

There is a lot of great information online about loans in Montreal. If you’re looking for the answer to any kind of question concerning loans, the internet is a good place to start. However, with all this information comes a lot of misunderstanding. Below we’ve debunked the top three loan myths that we see the most.

  • Applying for many loans at one time is a great way to increase your chances of getting approved. This is false. In fact, it’s the complete opposite of what you should do if you’re interested in taking out a loan. If you apply with a lender who pulls your credit as part of the application process, your credit score will go down a few points and recover over time. The problem with applying for many loans all at once is that your credit score will drop with every credit check. The small hit then becomes a big one. Furthermore, potential lenders can see on your credit report that you’ve applied for many loans, which could signal to them that you’re financially irresponsible. Read this to see how applying for new credit affects your credit score. 
  • Loans are only for those who have full-time jobs. This is also a myth. Anyone can apply for and get approved for a loan. You simply need to choose the right loan and the right lender for your unique financial situation. 
  • All lenders are reputable and interested in helping out consumers. Unfortunately, this is also untrue. There are lots of great lenders out there, but there are also many fraudulent and irresponsible lenders. Protecting yourself against these types of predators should always be a top priority for you when you apply for a loan. If an offer sounds too good to be true, it probably is.

Need some debt relief from predatory loans? Take a look at this article. 

Preparing to Apply For a Loan in Montreal

When applying for a loan in Montreal there are many things you can do to make sure the process goes as smoothly as possible. While the final decision is in the hands of the lender, as the borrower, you still have some say in whether or not you get approved. After all, it is your finances that are being evaluated.

  • Make sure your finances are in order. Be up to date on all your credit card or other loan payments. Consider checking your credit score and credit report, as those can greatly affect your approval process. 
  • Get organized, before applying and during the process. Filling out the application fully and making sure you’re always available to assist your lender with any questions they may have will make the whole process more efficient.
  • Choose the right lender. Once you’ve decided that applying for a loan is the right decision for you, you need to find a lender to work with. There are lots of options out there, but finding the one that best fit your needs can take a bit of time. Keep in mind that choosing the right lender for your situation could be the difference between getting approved and getting rejected.

Read this if you’re trying to compare lenders in Canada.  

Canadian Credit ScoreClick here to take a look at our infographic that breaks downs how your credit score is calculated. 

Loans and Your Credit Score

Loans and credit scores are directly connected, each can negatively and positively affect the other. While there are many lenders that do not check credit in order to approve a consumer for a loan, there are also many that do. Having a high credit score will not only increase your chance of getting the loan you want, but it can also help secure you a more manageable interest rate.

Once you get approved for a loan in Montreal, the manner in which you manage it will determine how your credit score is affected. If you make your payments on time and in full, you should see your credit score grow. However, if you miss one or more payments, even if they’re just late, you’ll see your score drop.

Want to learn some ways of improving or fixing your credit score? Check this out

Personal Loan vs. Credit Card in Montreal

This depends on what costs you need to cover. If the expense was unexpected, small, or can be paid off quickly, a credit card might be a better choice for some consumers. But, keep in mind that if you’re unable to pay off your credit card balance before your payment is due, you will be charged interest. The very nature of revolving debt can make it hard to pay it off.

On the other hand, if the expense you need to cover is more expensive, like a car or a house, a loan is a great option. With a loan, you’ll know exactly when to make your payments, how much they are, and when your last one will be.

What happens if you stop paying your credit card bill? Find out here

Why Do Some Lenders Ask For a Deposit?

Legitimate lenders will never ask for a deposit, loan insurance, or advance payments. Any “lender” demanding these types of payments is fraudulent and trying to scam you out of your hard-earned income. If a lender has asked you to provide them with any type of compensation before you receive your loan, do not give them any money, cut off any contact you have with them, and report any information you have to the appropriate authorities.

Wondering how you can identify a loan scam? Watch this video

Keep Getting Rejected By The Banks?

Banks have strict lending guidelines that they must adhere to. Unfortunately, not every potential borrower fits those guidelines. Generally speaking, the most common reasons why someone might get rejected by a bank is because their credit score isn’t high enough or because they can’t financially handle the payments. Just remember, banks are no longer the only place to get loans. If you’ve been rejected by your bank, don’t worry, you have other options.

Looking for a bad credit loan in Montreal? Click here

The Financing You’ve Been Looking For

If you’re looking for the right loan in Montreal Quebec, Loans Canada can help. We work with a wide variety of lenders and service providers who can offer you the options and solutions you need.

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