We Guarantee Loans For Bad Credit

What are the Interest Rates Every Year (Annual Interest Rates)?

We work with dependable financial institutions that offer 29% minimal and 32% maximum annual interest rates.

What Does a Typical Loan Look Like?

Let’s look at a typical loan together, ok? Let’s say you needed $750 in cash today. Our team would make sure you had that money in your account immediately after it was processed, usually the same day and sometimes even the same hour! Once you get your cash loan, you can repay over a flexible 3 to 6 month period. If for example you had borrowed $750 cash, you would pay us back in 10 installments of $120. For the purposes of this example we applied a $380 application fee that would be paid to the agent or broker. Again though, it is ultimately up to the official agent or broker to determine the fees that are applied to each file independent of the interest fees charged by the lender.

What Happens if I Default Payment?

There are two scenarios where a payment can be considered defaulted. The first scenario is where your pre-authorized payment bounces. If a payment to reimburse your loan bounces, we will charge a $50 NSF fee. Your financial institution may also charge you an additional NSF fee for a bounced payment, so it’s in your best interest to make sure payments are processed within your flexible repayment schedule.

The second scenario is where the payment isn’t necessarily defaulted; rather it’s deferred to a later date. If you have to repay your loan later than the date agreed upon when the loan was approved, there is an administration fee of $35.00 charged to the account. You should also make sure you inform us 3 business days before your payment date to ensure we can administer the payment date change in time.

Are There Other Conditions I Should Be Aware Of?

There are a few things that loan applicants should be aware of, one of which being that loans are not renewed unless you submit a request for another loan and we approve it. The other thing loan applicants should be aware of is that loan repayment terms vary from 3 months to 6 months as we mentioned above. That means that depending on how much money we loan you and the length of the payment schedule, the frequency and total amount of repayments can change.

What about Collections and Credit Scores?

Don’t worry, if a situation in your life interrupts your loan repayment schedule, our team will make sure that we modify your repayment agreement based on your current needs. However, as our company is in full legal compliance with Canadian lending regulations and standards, we have to demand full payment of any outstanding amounts, interests or costs if there is a default payment under a modified repayment agreement. Additionally if we incur any legal fees (judicial and extrajudicial) as a result of a default on your modified repayment agreement, we will claim these fees and ask you to repay us. If for some reason we cannot come to an agreement about your loan repayments, we will have no choice but to assign your file to a collection agency, which can negatively impact your credit rating. It is in your best interest to make sure your loan is paid back according to our repayment agreement or your modified repayment agreement.