Getting A Cash Loan From LoanConnect Is Easy
LoanConnect is your one-stop solution for cash loans. We partner with private lenders across Canada so we can provide you with the best rate. We help thousands of Canadians find the best loan from $1,000 to $50,000 by searching our database and presenting them with the best options. You can take back control of your finances by filling out a quick loan application. Within seconds, you will have a list of loan options at your fingertips.
Our lenders are ready to loan Canadians with bad credit. Don't let your credit score stop you from getting the freedom you deserve. Personal loans have a variety of applications, and you can use the money however you wish. Apply today!
Our loan application is fast & secure. If you work or own a home, you're approved.
Once you've answered a few short answers, you'll be pre-approved in 60 seconds.
Choose Your Loan
You will be presented with a list of the top , pick a loan that best suits your needs.
Get Your Cash
Once you've selected your lender, within 24 hours you'll have your money.
Cash Loans For Every Aspect of Life
Cash Loans, What Are They?
A cash loan is precisely what it sounds like, it's a loan that offers you cash to spend on whatever you want or need. Unlike item-specific loans, like a mortgage or an auto loan, a cash loan doesn't have the same restrictions on how the money can be used. It is also usually a short term loan, from 6 to 60 months.
The Most Important Thing About A Cash Loan
The most important thing about a cash loan is that you should have a plan to pay it back easily and on time. If you're able to get a good credit loan, you can use that same loan to improve your credit. You can improve your interest rate or terms next time by making sure that you pay off your loan on time this time.
What Can I Use A Cash Loan For?
As with most loans, you should try to use it for something that you are willing to make payments for. Things like home renovation, car repair, consolidate debt, medical, vacation even Christmas presents to name a few.
Top reasons why people get cash loans:
- Home Renovation - Sometimes the need for a new roof or to replace a window exceeds your wallet's ability to handle it. A cash loan is perfect for this situation.
- Auto Repair - If your car breaks down, you can find yourself unable to get to work or school. A short-term loan can help get your car fixed so you can get back to your life.
- Home Appliances - If the refrigerator or the furnace breaks down, it can be a huge investment. A cash loan is a great way to get a new appliance and have some extra time to pay for it.
- A Tough Time - Sometimes, our job isn't quite paying the bills or the business is closed for a week and you're not getting vacation pay. This is a great time for a cash loan.
- Small Business Loan - Many businesses are seasonal. When things are great, everything is fine, but there are still bills in the lean months. A cash loan can float a business over these months easier and with less stress.
What Is My Interest Rate?
Of course, ultimately, all interest rates are set by the lender and are determined based on your credit history. Lenders will check your credit report from credit agencies like TransUnion and Equifax and determine your rate. They all usually follow similar guidelines:
- Start with the Prime Rate - This is the cost that banks pay the central bank to borrow money. This is the interest rate that everyone's always talking about on television.
- Add to the prime rate - You might see something like prime plus 1.5%. If the prime rate is 4%, the company will charge 5.5%.
- Adjust for credit rating - Your credit rating doesn't only decide whether you get a loan or not, but it also helps the loan company decide what interest rate to charge. Essentially, as they see it, the lower your credit rating, the higher the risk and therefore, the higher the interest rate.
What If I Have A High-Interest Loan?
Of course, the short answer is to make your payments on time, but there are a few things you can do reduce the amount that the interest really costs you.
- Make double payments - Pay twice the amount that your payment is scheduled for. Most loans don't punish you for making payments early. Paying twice the amount will reduce the interest cost significantly.
- Make two payments per month - One of the easiest ways to reduce the interest cost is to make two payments every month. Many of us get two paychecks per month. Instead of making the whole payment at once, make two half payments. Since there are 52 weeks in a year, and you are paying bi-weekly 26 times, you will effectively pay one additional monthly payment yearly.
A bit of extra effort will not only reduce your expenses but will improve your credit rating and eventually many, many aspects of your life.
Whether you need a short-term, cash loan to carry you over a tough period or make an emergency repair, it can also be a springboard to a better life. LoanConnect is your partner in finding the right loan to fit your needs and your life.
How Is LoanConnect Different?
Unlike your bank, an online cash loan from LoanConnect is easy to get and allows you to do what you want with the money.
LoanConnect is a loan provider that looks at your future, not your past. Bad credit should not be a permanent stop to getting the loan that you need. We work with your current situation, what your future will look like, and what you need from us to help you get the money you need.
It's a quick four-step path:
- We search scores of Canada's lenders and tailor a loan to your needs, regardless of your credit score.
- The application process takes less than 5 minutes. We make the process seamless and painless for you.
- Pick the loan that best fits your needs and wants. The payment periods are 3 to 60 months with rates as low as 4.6% APR.
- Get your money the same day.
Why Should I Choose LoanConnect?
LoanConnect is one of Canada's leading rate comparison platforms. We don't make loans. Instead, we gather resources from all over the country so that you can get the best rates and the best terms for your short-term loan.
Customer service is at the core of our success. We work hard to get you the loans that you need at the very best rates and with the best terms.
Since we don't actually make the loans, we give you an unbiased and complete list of the companies that can give you the money that you need. You can choose the offer that suits your needs best.