Personal Loans
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Personal Loans



The Loan You Want, When You Need It
Having access to financing during a time of need is an extremely important asset. This is why Loans Canada works hard to partner with a wide range of lenders and financial institutions. We strive to provide as many options as possible, for any credit, at your fingertips.









FAQs
How do I apply for a loan?
To apply for a loan, you'll need to fill out our online application. Once you've done that, you'll be matched with one of our partners or service providers who will then process your application, determine if they wish to fulfill your request, and get in contact with you.
How do you approve applications?
You'll be matched with one of our lenders based on the information you provide on your application. After that, your lender will verify your identity and financial standing based on documentation they will request from you.
How much money can I get approved for?
The amount you can qualify for depends on many factors, which may vary from lender to lender. But generally, your approval is based on your overall ability to pay down your loan, which is usually a function of your income and debt servicing ratio.
How long will it take for me to get my loan?
Depending on the type of loan you apply for, you can receive your funds within 1 to 3 days, sometimes even on the day you apply. To make sure you receive you money as quickly as possible, make sure you fully complete your application and promptly provide your lender with any additional information or documentation they may need.
Do I need to provide upfront payment to get my loan?
No. Asking for upfront payments in any form is illegal. If a lender every asks you to do this, it is likely a scam. Do not provide them with your personal or banking information and report to the Canadian Anti-Fraud Centre.
How will I get my money?
Once you've been approved by the lender you were matched will, your loan will be directly deposited into your bank account.
Do I need to provide security or collateral?
No, not necessarily. This depends on the type of loan you apply for. Borrowers who can provide security, for example a vehicle, can often get approved for a larger loan. But, do we work with many lenders who do not require any form of security.
I have bad credit, can I still get a loan?
Yes. Loans Canada prides itself in working with lenders all across the country who provide all Canadians, regardless of their credit, with the loans, credit, and debt relief products they need. Keep in mind that certain loan products may require a specific credit score and a credit check. No lender can or will check our credit without your express permission.
What can I use my loan for?
If you're approved for a personal loan, you can use it for whatever you need. If you apply for something more specific like an auto loan, you'll need to use the loan for its intended purpose.
Why didn't I approved for the amount of money I applied for?
Depending on your financial standing and the lender you're matched with, sometimes you may be offered a loan amount which is less than your request. All lenders have an obligation to perform due diligence before they can approve someone for a loan. Lenders will only offer loan amounts that they know a borrower can handle, because it is in everyone's best interest to ensure that borrowers are not overextended financially.

Loan Myths
Only people with great credit and high incomes can get approved for personal loans.
False. Loans Canada's main goal is to provide all Canadians, regardless of their credit scores, with access to the personal loans, car financing, business financing, debt relief, and related services they need. In fact, the majority of our clients are average consumers who sometimes struggle with their credit.
Only banks provide personal loans.
False. Maybe several decades ago this might have been more true, but now the financial world is changing. There are countless reputable and legitimate lenders out there and Loans Canada works with many of them to provide our clients the solutions they need and want.
You need a perfect credit score to apply for a personal loan.
False. Anyone, regardless of their credit score can apply for and get approved for a personal loan. Our number one tip for apply for a personal loan: always make sure you can afford it. Loans can open up so many doors, but if you can't handle the payments, a loan can cause more issues than it's worth.

Did You Know?
According to Statistics Canada, for every dollar of disposable income a Canadian family has, they have $1.68 in consumer credit debt.
Currently in 2017, Canadians owe a total of $2.08 trillion in consumer credit debt, mortgage debt, other loans.
Towards the end of 2017, the networth of the average canadian household fell by $1,300. Meaning more and more Canadians are having to rely on high interest credit to maintain their lifestyle.
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