Available in seven provinces, iCash is an online source of fast, small loans that can be used for any emergency. Approved applications are processed within the same day and no documentation is required before the transfer of your funds. You can borrow up to $1,500 with iCash. Every time you pay the loan back following the agreed-upon deadline, you become a more reputable borrower. The increased trust allows you to borrow more each time. iCash uses a Trust Rating System, an algorithmic function that determines your merit as a borrower.
If you’re looking for an open-ended line of credit with credit limits up to $15,000, Fora is the best choice. Fora’s line of credit lets you withdraw funds from your available credit, and repay and redraw as needed. This makes it an excellent option for those seeking flexibility and quick access to cash as needed.Moreover, interest rates start as low as 19.9% and are only charged on the amount you withdraw.
Spring Financial is an online consumer lending company that offers innovative financial and credit-building solutions designed to give Canadians the opportunity to build credit, save money and borrow responsibly.With many Canadians struggling with high-interest debt and limited financing options, Spring Financial strives to provide Canadians with affordable and accessible financial products that can help them achieve greater financial freedom. Among their growing suite of smart money solutions, Spring Financial offers $1,500 cash advances, personal loans up to $35,000, and a credit-building program that helps you build credit and save money.
Fairstone is a great choice for consumers looking for loans with affordable payments that meet their needs and budget. As Canada’s leading non-bank lender of personal loans, consumers can get unsecured loans up to $25,000. Homeowners can choose a secured loan (backed by the value of their house) to borrow more money and access lower payments compared to an unsecured loan. Whether you’re looking to consolidate debt into one simple monthly payment, cover unexpected expenses or something else altogether, Fairstone is a great option.
If you’re short on cash, Bree offers cash advances of up to $350 with zero interest. Bree is an online financial platform that provides interest-free cash advances to help consumers avoid overdrafts and NSF fees. Their mission is to be a dependable and accessible financial source that consumers can trust when they need financial support. Moreover, you can access the money you need with Bree without having to worry about credit checks, interest charges or late fees.
The MogoMini line of credit offers Canadian consumers a great personal loan alternative. Borrowers can access up to $5,000, spend what they need when they need it, make the automatic minimum payments, and finally control their own principal payments. This Mogo product is flexible and users can test drive their line of credit for 100 days to see if it’s the right fit. Access their easy online application via your MogoMoney dashboard and get pre-approved in 3 minutes with no impact on your credit.
LoanMeNow offers Canadian consumers quick access to the cash they need. They offer loans up to $1,000 with no credit check required. Funds are deposited directly into your bank account within as little as 24 hours. A short-term loan from LoansMeNow can help you cover the cost of an unexpected expense or tide you over until your next paycheque. Whatever your financial needs are, LoanMeNow’s quick approval time means you’ll be able to get back on track as soon as possible.
SkyCap Financial has been helping Canadian consumers take control of their financial futures since 2013. Their main goal is to provide alternative financing to all Canadians, regardless of their financial past or credit history. They provide fast and easy short-term loans ranging from $500 to $10,000 and approve applicants in as little as 24 hours. Consumers can take advantage of SkyCap Financial’s quick application and a team of experienced individuals who strive to make your experience as smooth as possible. SkyCap Financial bases all their lending decisions on three main factors, current income, credibility, and stability, so they can approve more Canadians, especially those who have been rejected in the past based on credit issues.
Nyble helps users quickly access a line of credit of up to $250 without credit score requirements. This is a good option for anyone who wants to avoid overdrafts or needs a small amount of cash quickly. Approval is instant and funding takes up to 3 days. But if you upgrade to a paid membership for $11.99 a month, you can receive your money within 30 minutes. Nyble reports your payment history to the credit bureau monthly and approves you for large amounts as you build trust with the platform. You can also track your credit score, earn reward points for improving your score, and access other features such as credit monitoring and digital identity theft protection.
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Living in a large city like Ottawa comes with a number of benefits. However, these benefits don’t come without their costs. The cost of living in Ottawa, and many other large cities in Canada, can be high and oftentimes unaffordable. Not only that, but these costs are on the rise. For example, rental costs in Ottawa are expected to grow by nearly 10% in 2019.
Applying for a short term personal loan? Avoid these common application mistakes.
While some people make or have enough to afford these high costs, many cannot. For these individuals, they may require a loan. Large, multi-thousand dollar loans are great if you need to make a large purchase, but aren’t that practical if you just need a bit of money to cover your necessary expenses or costs. Thankfully, there are short term loans that can help. These loans often have terms of anywhere from a few months up to a few years and are generally for anywhere between $500 and $2000. If you’re looking for a short term loan in Ottawa to help cover the rising costs of living in the city, Loans Canada had all the information you need.
Interested in the true cost of borrowing? Check out this infographic.
What Can I Use a Short Term Loan For?
The good news about short term loans in Ottawa is that most lenders don’t have any rules for what you can and cannot use the loan for. You can essentially use a short term loan for anything you desire. This includes:
Building your credit
Paying for travel
Paying for medical bills or emergencies
To handle home or car repairs
To make a large purchase
To cover your bills
Of course, you should only take out a loan for something you need. We recommend you only use short term loans in Ottawa for something that is imminent and a necessity. This can include repairs, to deal with emergencies, travel or if you need money to pay your bills. If you simply want a new TV or an expensive watch, it is generally smarter to save up for those purchases. Also, only get a loan for an amount that you are confident you can pay back in full. If not, you could find yourself in debt and dealing with financial problems down the line.
Learn how to qualify for a short term personal loan, click here.
How to Get Approved for a Short Term Loan in Ottawa?
Now that you know what you can use a short term loan for, it’s a good idea to find out how to up your chances of being approved for one. The first thing you should do is to pull a copy of your credit report to check and make sure everything is good. The last thing you want is for an error or mistake on your report to stop you from being approved for a loan.
If you notice your score is low, you need to work to improve it. A better credit score will mean you get a better interest rate and better terms on your loan. You can improve your score in a number of different ways, including making payments on time, using credit responsibly, and keeping utilization low.
Next, the lender you work with can impact how easily you can get a loan. Some lenders are easier to work with and accept more people, while some lenders are quite selective about whom they work with. Other things like paying down your debt and creating a budget can help you get approved for a short term loan in Ottawa.
The Right Short Term Loans For You
Looking for a short term loan in Ottawa to help cover the cost of an unexpected expense? If so, you have come to the right place. At Loans Canada we can assist you in getting a short term loan from a trusted and legitimate lender in Ottawa.
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If you've been rejected a loan from easyfinancial, you'll be happy to know that there are plenty of easyfinancial loan alternatives in Canada.
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