Scammers regularly use the Loans Canada name, our logo and even the names of our real employees to trick Canadians into paying fake fees or handing over personal information. This page lists the scams we know about, explains what the fake messages look like, and what to do if you've been contacted.
- July 2025: The website loanscanada [dot] online is a scam and has no connection to us.
- June 2025: A person calling themselves "Megan Hills" is running a scam under the name "Loans Cart" or "Loans Cart Canada". Do not give this person any personal or financial information.
- May 2025: Scammers are using our employees' names and the phone number 800-684-8396 to tell people they've been approved for a loan. This is a scam.
- April 2025: A person using the name "David Gordon" is contacting consumers in the name of Loans Canada. He does not work for us.
What Loans Canada Will Never Do
Loans Canada is a loan comparison platform, not a lender. If someone using our name does any of the following, it is a scam:
- Send you a loan approval letter. We don't lend money, so we never approve loans.
- Ask for an upfront fee, whether it's called a security fee, insurance fee, processing fee or deposit.
- Ask you to send money by e-Transfer, prepaid card, gift card, Western Union or deposit into a bank account.
- Send a "legal notice" or "arrest warrant".
- Email you from a free address such as @gmail.com, @hotmail.com or @yahoo.com.
Not sure about a message you received? Forward it to support@loanscanada.ca and we'll tell you whether it really came from us.
Is Loans Canada Legit?
Yes. Loans Canada is a legitimate business, accredited by the Better Business Bureau. It was established in 2012 and has been named one of Canada's top growing companies by The Globe and Mail.
| BBB Accredited | Yes |
| BBB Rating | A+ |
| Finder: Personal Loans Customer Satisfaction Awards | Finalist for Best Personal Loan Search Platform |
| The Globe and Mail's Canada's Top Growing Companies | Ranked No. 228 |
Fake Loan Approval Letters Using Our Employees' Names
One tactic we see often: fraudulent lenders create fake loan approval documents that use the names of real Loans Canada employees, which makes the scam look more believable. The letter usually comes with a request for a fee before the "loan" can be released.
Loans Canada does not send loan approval letters. If you receive one from "Loans Canada", it is a scam.
How To Spot A Fake Approval Letter
- The sender's email address is unusually long, or comes from @gmail, @hotmail or @yahoo.
- It says you're approved even though you never applied with a lender.
- It asks for a payment before you receive your funds.
Fake "Legal Notices" & "Arrest Warrants"
If you've received a "legal notice" or "arrest warrant" sent on behalf of "Loans Canada", it is a scam.
Loans Canada never sends legal notices of any kind. An arrest warrant can only come from a court or law enforcement. No lender, financial company or debt collector can issue one.
What A Scam Email Usually Looks Like
Whether it's a fake approval letter or a fake legal threat, these messages tend to share the same signs:
- A free email address. It's sent from @gmail, @hotmail or @yahoo, often with "Loans Canada" or "fraud department" in the name.
- Official-looking decoration. Copied logos, clipart, stamps, seals or signatures pasted onto the page to look legitimate.
- Real names, fake titles. It's signed with the name of a real Loans Canada employee, or someone claiming to be a lawyer, officer or "compliance department".
- Threats and urgency. Dramatic warnings about arrest, court action or seized bank accounts (for example, "All of your bank accounts will be seized thru major credit bureaus"), with a short deadline to act.
- A demand for money. A fee, "insurance" or overdue balance to be paid by e-Transfer, gift card, prepaid card or bank deposit.
- Poor spelling and grammar throughout.
Known Scam Names, Websites & Email Addresses
Some of these companies pose as a loan referral service. After you apply, money is debited straight from your bank account, sometimes with "Loans Canada" or something similar in the transaction description. We operate only at loanscanada.ca and have no connection to any of the following, directly or indirectly:
| Websites | loanscanada [dot] online, theloanscanada [dot] ca, securedloanfinances [dot] com, cashloan-finances [dot] com, eftservers [dot] com |
| Email addresses | canadafrauddepartment [at] gmail.com, loanscanadafinance [at] gmail.com, loanscanada.services [at] gmail.com, loanscanada.09 [at] gmail.com, infoloanscanadaca30 [at] gmail.com, maxspain181 [at] gmail.com, johnwinchester [at] loanscanada.com |
| Phone numbers | 800-684-8396 |
| Company names | Loans Cart / Loans Cart Canada, Calderbank Funding, Atlas Financial, Big Time Maple Leaf Financial, Nobull Financial, Meridian Regional Lending, 10X Financials, Raymond Credit, Upper Canada Loans, Loan Fast Canada, Private Lenders, Private Lenders Canada, Private Lender Loans, Cash Lender / Cash Lender Canada, 7940696 Canada Inc. |
| Names used by scammers | Megan Hills, David Gordon, Adam Streets, Andrew Smith, Coralia Bulhoes, Dean Queensland, Donald R Summer, Eric Williams, Frank Hamilton, George Maxwell, Henry Parks, Isaac Freeman, Jacob Stafford (multiple @gmail.com addresses), James Anderson, Jason Oliva, Kenneth O'Brien, Kevin White, Kimberly Rogers, Mark Anderson, Mark Robinson, Max Spain, Mike Davis, Patrick Morgan, Ramon Plesis, Ron Clark, Ross Knight |
Scammers change names often, so a name that isn't on this list can still be a scam. When in doubt, email support@loanscanada.ca.
A Note On Upfront Fees
Loans Canada never asks for an upfront fee, security fee or insurance fee, and neither do our partners. Asking for money before releasing a loan is a classic scam, and it's illegal. Some scammers ask you to deposit money into several bank accounts on behalf of a so-called loan insurance provider. That is also a scam (read more about loan insurance scams).
What To Do If You've Been Contacted By A Scammer
- Don't reply or send money. Don't give them personal information, banking details or access to your online banking.
- Don't click links or open attachments. They can install malware or lead to fake sites that steal your information.
- Call your bank right away if you've shared banking details, and ask it to stop all future withdrawals from the company.
- Report it to the Canadian Anti-Fraud Centre (CAFC) and to your local police.
- Block and delete the sender to stop further contact.
Red Flags Of Any Loan Scam
Loan scams are common, and the best protection is knowing what they look like. Watch out for:
- A promise of guaranteed approval
- 0% interest rates
- A lender with no address or contact information
- Pressure to decide before you're ready
- An offer that feels too good to be true
- A request to send money before you get your loan, by prepaid credit card, gift card or Western Union transfer
For more tips, read our guide to spotting and avoiding loan scams.
Bottom Line
Loans Canada is not a lender, and we will never send an approval letter, a legal notice or a request for money. Whoever you're dealing with, read anything you sign carefully. If you or someone you know has been targeted, contact the CAFC right away.
