easyfinancial
Loans from CA$500 to CA$150,000 with rates starting from 9.99% and flexible terms up to 240 months. High approval chances for all credit scores.
easyfinancial offers bad credit loans with flexible amounts from CA$500 up to CA$150,000 and interest rates that start as low as 9.99%. Loan terms can range from 9 months to as long as 240 months, making it possible to tailor your repayments to your budget. Even if you have a credit score under 660 or limited credit history, your application will be considered with a focus on your complete financial picture.
The lender accepts a wide variety of borrowers, including those who may have previously been turned down by banks. Most borrowers use these loans for bill payments, debt consolidation, or home and auto repairs. Applicants will need to provide proof of income, recent banking information, and a recent utility bill along with a piece of government-issued photo ID.
How to Apply Step by Step
- Apply online, by phone, or at one of over 400 branches.
- Submit your required documents (pay stubs, ID, etc.).
- Get a decision and receive funds – sometimes within the same day.
Key Advantages
easyfinancial’s strongest pros include high approval rates for those with bad credit, and transparency in rates and loan terms. The application process is clear and doesn’t hurt your credit score when checking eligibility.
Loans are also available for a wide range of purposes and loan protection plans are optional. Additionally, 60% of customers reportedly improve their credit score after borrowing.
Potential Downsides
Interest rates can go as high as 35% for personal loans, which is higher than traditional banks. For larger loan amounts (above CA$15,000), home equity may be required, and rates are lower (starting at 14.99%).
As with any loan, missed payments can harm your credit profile. Documentation can be more involved compared to payday loans, though this also brings more security.
Final Verdict
If banks have declined your application or you want competitive rates and larger loan amounts, easyfinancial is a solid option. The transparent process, focus on helping rebuild credit, and broad acceptance criteria mean even borrowers with less-than-ideal credit can find approval and potentially a path back to prime rates.