Online loans in Canada
With more and more Canadians becoming “unbanked”, and an increasing demand for fast loans, the market for online loans has exploded in the country within the last 5 to 8 years. Whether you need financing for short-term loans, payday loans, cash advance, debt consolidation, a renovation or even a vacation, getting a loan online has never been easier, quicker or safer!
Advantages of working with an online loan company
Not to be confused with Online Payday Loans, getting your loan online should be easy, quick and safe. While each company has different requirements, here’s what you can expect from Fresh Start as a way of getting quick cash:
Can you sit in front of your computer or mobile device for 5 minutes with a few pieces of information? Probably. It’s really that easy with most online vendors, but at Fresh Start, you can complete your online loan application within minutes entirely through texting! It doesn’t get any easier than that.
Not only will it take a few minutes to complete your application, but our first-rate technology also makes the decision in even less time so you’ll know quickly. You can choose to receive the information by phone call or, again, by text message (seriously - you never need to talk to anyone on the phone if you don’t want to). In terms of receiving your money, it’ll typically arrive in your bank account within 24 hours of applying.
In short, yes. There are a lot of rules around online lending in Canada, and each province varies significantly. Canadian lending is one of the most regulated in the entire world, so consumers are very safe. Payday loans in Canada are very tightly regulated and there is a cap on how much can be charged (generally per $100 borrowed). Installment loans like those we offer follow a similar guideline and there are limits to how fees are applied. In terms of online safety, Fresh Start uses only top-level encryption, so your data is always secure. We’re also part of the Canada Drives Group, so you’re backed by a recognized, fast-growing and homegrown company.
An important note: If you have any doubts about an online lender, or if your browser is warning you that their security certificate is out of date (or they don’t even have one) click away and never return!
No hidden fees
We’re a glass house here. There’s nothing hidden in our fee structure, and there are no application fees. You’ll get total cost of borrowing at the time of your application - it’s the law anyway, so it’s not really up for debate!
Bye-bye traditional borrowing
Pre-online borrowing, consumers would have to go into their banks with a stack of documents and spend a lengthy amount of time verifying information, filling out the application by hand and then waiting for approval. Combine the length of time and effort with an understandable amount of hesitation and possibly worry (who likes asking for money after all), the disadvantages of applying for a loan, pre-internet, was largely unpleasant and time-consuming. Another bonus for the consumer? Traditional banks take far fewer risks with their loan process, while online lenders are often more open-minded; they won’t turn you away if you have bad credit and they may not even mind if you’ve had a bankruptcy in your future. They understand there’s a market to be met.
Where to get a quick and easy instant loan online?
Fresh Start Finance, of course! While many brick and mortar lenders have brought their operations online, they still have to cover those physical costs. Supporting what is essentially two operations (online and traditional still have different requirements) costs the business more money. They often reflect this in their higher interest rates or, cost of borrowing for you! The first big perk of online lending is that these companies can offer rock-bottom rates since they don’t have the same overhead.
How to get an online loan approval quickly?
You’ll need a few documents to scan/screenshot for your loan application, like your credit score, payroll and banking information. To keep things super easy, take screenshots of your banking home page because we’ll need numbers like your account number, bank transit and bank number to be able to deposit your funds. Sure, you could take a picture of a cheque but a Snippet is much faster.
Fresh Start is a Responsible Lender
Fresh Start Finance is a federally regulated financial institution, so we are well versed in your rights and our responsibilities. You need money. We want to help. It’s a no-brainer to follow the rules.
Apply for an Online Personal Loan Today!
Fresh Start provides the best online loans in Canada. With a speedy application, trusted reputation and custom-tailored service, consider yourself proud of being part of the unbanked family with Fresh Start. Ride the new wave of personal financing and apply today!