When it comes to applying for a loan, often we think that a high credit score is the end all be all of approval. While having a high credit score is great, it’s not always manageable for all Canadians. The good news is, your credit score doesn’t need to read 800 for you to get approved for the personal loan you need.
What is a Bad Credit Loan?
A bad credit loan is just that, a loan that is meant to help those consumers who are currently or who have in the past struggled with bad credit. Having a perfect credit score is not always attainable for all consumers, so what do you do when your credit is preventing you from getting approved for the loan you want and need? Apply with us. At Loans Canada we pride ourselves on being able to match our clients with the lending products they want, regardless of their credit.
A bad credit loan is a second chance for anyone looking for one. They are ideal for any and all credit constrained Canadians looking to get their finances back on track so they can create a brighter and more stable financial future for themselves and their families.
The Benefits of a Bad Credit Loan
Of course, one of the biggest benefits of a bad credit loan is that anyone can be approved, so if you feel as though your past financial missteps are holding you back, a bad credit loan might be exactly what you’re looking for.
- Easy online application. You can apply on your computer or smartphone from the comfort of your own home whenever it’s most convenient for you.
- Manageable installment payments. You’ll be able to create a budget around your loan payments and know exactly when they are due.
- Quick approval time. Because we’re based completely online, there are fewer steps and little to no paperwork which means you’ll get your money sooner.
- High approval rate. Fewer restrictions and requirements mean that more Canadians get approved.
We work with an extensive referral network which means we can offer more Canadian more products and help them find exactly what they’re looking for, good credit, bad credit, any credit.
How to Get Approved for a Bad Credit Loan?
Both the application and approval processes for bad credit loan are simple and straightforward, but of course, there are a few things that anyone can do to improve their chances of getting approved for a bad credit loan.
- Be truthful and honest on your application and during any further communication you have with your loan agent.
- Provide your loan agent all the necessary information (and documentation) in a timely manner.
- Be available to your loan agent. This means to answer their phone calls and emails as soon as possible.
- Make sure you’re ready to handle paying off a loan. You know your finances the best so make sure you can handle the responsibility before you apply.
Interested in More Information?
If you’re in the market for a loan, have been turned down by your bank, or are worried that your credit is holding you back, we can help. Fill out one of your online applications today.