Online Loans Canada

Low Interest Online Loans in Canada

About LoanConnect

LoanConnect is the country's leading resource for fast, easy online loans. We've partnered with the best lenders in the country to provide you with the cash you need fast.

By working with so many lenders, we're able to find you low interest rates and flexible terms with fast payment to help you, when you need it.

What Can I Use My Online Loan Money For?

Anything. Unlike an auto loan or a mortgage, you can use the money that you receive for anything. It can be something as important as getting a car fixed to simply taking a great vacation.

What if I have an emergency? Can I use it for that?

Definitely. Because the money is simple to get and is often delivered within 24 hours, it's perfect for helping you get through an emergency. Auto repairs, home appliance repairs, a new roof, or medical emergencies are just some of the reasons people use online loans for emergencies. You can have cash in hand before something like a broken-down car causes worse repercussions, such as losing a job or missing an important medical appointment.

What if it's not an emergency?

It's your money. Use it for anything you want. Unlike an auto loan or mortgage, you don’t have to explain to anyone how you use your money.

Can I use the money until payday?

Absolutely. Sometimes finances get tight between paychecks and an online loan can bridge the gap until your next pay period. Outstanding bills often come with fees and interest for every day that you’re not paying them and could lead to collections. While an online loan, with a reasonable interest rate, can pay off your bills and improve your credit when paid on time.

How are interest rates set on loans?

1. Interest rates start with the prime lending rate which is the amount the central bank charges for lenders to borrow money.
2. The lender then adds their own additional percentage to the interest to account for their own fees. This will create their base rate for customers with the best credit.
3. The lender then evaluates your credit standing and adds additional interest depending on their perceived risk of lending to you.

What if I have bad credit?

We can work with that. Because LoanConnect works with so many lenders, we're able to find lenders to give you a bad credit loan with almost any credit rating. The mission at LoanConnect is to help you in the future, not punish you for your past.

How should I handle my payments?

One of the most important things you need to plan for is how to pay your loan back as quickly and efficiently as possible. Make sure that you don't take on more loans or debt than you can handle. By making your payments on time, or early, you can help to improve your credit score.

Your credit score can ultimately save you money on loans, credit cards, and mortgages. It can even save you on things like car insurance. Many companies, even ones not directly loaning you money, use your credit score to decide your ability to make payments.

How can I reduce the costs of interest?

One of the most effective ways to save on interest is to change how you make payments.

Bi-weekly payments - Rather than making a single payment each month, try a bi-weekly payment schedule. Not only will this take pressure off of one paycheck, but it will reduce the long-term costs of interest. Paying bi-weekly (not to be confused with bi-monthly) actually allows for you to fit in 2 additional payments during the year. It feels like a more manageable schedule, and helps you in the long run.

Add-on payments - One of the best ways to reduce the costs of interest is making more than your regular payment. While it would be ideal to pay double, or more, on each payment, every little bit helps to pay down your debt faster. Even an extra $10 a month can reduce the total amount of interest on your loan.

What else do I get with my loan?

With LoanConnect, you get much more than just a loan.

• The power of choice - LoanConnect's application process allows you to apply with multiple lenders through a single form. Not only does this save you time, it gives you the ability to compare loan offers and make the correct decision for you.
• Customer service - We are committed to helping you improve your financial wellbeing. Through our resources and knowledge, we aim to assist you in making the best decision for your financial future. Our team of professionals is committed to your total satisfaction.
• Transparency - At LoanConnect we don't believe in surprises. We work with the best, most reputable lenders in Canada who share our values of customer satisfaction. Together we provide you with as much upfront information about costs and fees as possible so you can make the more informed decision.

OK - Ready to go! Let's get your application started!

Filling out the online loan application takes just a few minutes and a handful of personal information. In just 5 minutes you could be reviewing your pre-approved loan offers from lenders across Canada. And in as little as 24 hours, you can have your money in hand. Let's get started right now!