Categories
Credit & Debt

Choosing the right online loan provider

If you’re having trouble keeping up with bills or if you have bad credit, an online payday loan can help you keep your personal finances in check. When it comes to choosing an online loan provider, it can be difficult to determine which company is trustworthy and right for you.

It is important to learn how to evaluate your available options and choose a money provider that best suits your needs. Not all companies are the same and staying informed is the best way to avoid unnecessary risk.

Beware of scam loan providers

When looking for a business provider of any type, it always wise to be wary of potential scams. It is unfortunate that scams still tend to be present in this day and age, but it is always better to be safe than sorry when choosing a lender that you can put your trust and faith in.

As an example, some loan institutions will ask for an advance fee to establish a borrower profile to help define your loan amounts. However, these sums of money can often be taken without the client being granting their loan.

Scams like this like this are why it is so important to choose a provider with the simple goal of helping people solve their everyday reasons to seek financial help. The consequences of falling for a scam can be significant so don’t allow yourself to be deceived!

If you find yourself dealing with a deceptive loan provider, you can report it to the Canadian Anti-Fraud Centre. While there will always inevitably be scammers out to get you, try not to worry too much since most private lenders are trustworthy and have professional intentions.

Finding the best loan provider

In your search for the right loan provider, you have a number of options at your disposal to help you make the best decision. You can start, for example, by searching the web for any available customer reviews and testimonials.

Doing a bit of research ahead of time is always a good practice and once you have found some lenders that you feel suit your needs, you can compare them all to find the best service. Don’t hesitate to contact them to discuss any concerns you may have.

Companies such as Friendly Lender are always ready to address the needs of their customers and can help advise you for any financial loan inquiries.  The numerous clients we have served, all with varying needs, have contributed to the quality of service we provide and helped further achieve our goal of constantly improving our service.

Summing up

When choosing the best loan provider for your specific financial needs, it is important to always be cautious and avoid potential scams and frauds. You should choose a lender who you can trust completely, and be sure to do some research in advance and compare institutions to find the ideal solution for you.

Try to choose a provider with experience and professionalism, such as Friendly Lender, one that can help guide you along the way with any questions you may have.

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Credit & Debt

Why Apply for a Loan When Getting Married?

Getting married is one of the most important and memorable moments of your life, as well as one of the most expensive. The average cost of a wedding in Canada is over $30, 000, which is higher than many young couples’ yearly income.

This doesn’t even account for the bridal shower and honeymoon!

The rising cost of weddings across Canada often cause younger couples to put off their big wedding day indefinitely. So, what can be done to help mitigate these costs?

One option is seeking the help of friends and family, which can be embarrassing depending on your situation. However, even with your savings and the help of others, you may still find yourself needing extra financial aid in the form of a fast online cash advance.

This article will explore why you might apply for a payday loan when getting married.

 

Wedding costs that lead people to apply for a loan

You may be wondering to yourself: “How do weddings become so expensive?”

There are a number of factors to account for when planning a wedding including:

  • The venue that hosts your event
  • Rehearsal dinner costs
  • Food and drink services
  • Music (DJ or a band)
  • Photographer

Considering that the expenses listed above are only the major ones (other costs like wedding dress and tuxedo need to be factored in), you can see how your wedding can quickly amount to the average cost mentioned at the beginning of this article. Because of the sheer number of costs involved, many people decide to apply for a wedding loan.

Should you apply for a loan for your wedding?

Let’s take a look at some of the options you have for financial help in covering the costs of your wedding, including applying for a personal loan.

Personal online loans service

A fast online loans service such as the one offered at Friendly Lender allows you to securely fill out an online form and receive a number of loan offers that you qualify for. You will usually receive your desired loan within 24 hours, making it a quick and easy choice for many.

Additionally, this type of loan service does not require a credit inquiry, which can negatively impact your credit rating. Applying for a loan online can provide a certain level of convenience and comfort that a traditional bank cannot offer.

Traditional Bank Loan

Another option is to apply for a traditional bank loan. This option can potentially work well for you but it’s important to remember that approval is much more restrictive and they will perform a hard check into your credit history, lowering your credit score in the process.

Home Equity Line of Credit

A home equity line of credit involves putting your home up as collateral for the repayment of a loan. This is not only risky but also means that, for younger couples that aren’t homeowners, usually the parents must take on the burden.

Put the Wedding on Hold

Sometimes, covering the costs of your wedding just doesn’t sit well within your budget. For this reason, many couples will extend their engagement for an indefinite period of time in order to save money.

In Summary

When taking all options into consideration, many soon-to-be-newlyweds find the accommodating nature of online loan services to be preferable to the alternatives. Even if only to provide a slight financial boost, the quickness and ease of approval make using an online loan application service a feasible option.

If you need a loan without credit check or have any questions, don’t hesitate to contact the team at FriendlyLender today!

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Credit & Debt

Why Get a Micro-Business Loan Without Credit Check?

Small home-based business owners often struggle to find the financing needed to keep their start-ups afloat. Qualifying for a traditional small business loan can be difficult when the economy isn’t performing well and most bank loans end up being more than you require for your specific needs.

Applying for a payday loan with no credit check can be a viable alternative more suited to your small business. Here are some of the reasons you might want to consider this type of loan to meet the demands of your business.

A loan without credit check is fast

Running a home business can take up a significant amount of your free time, leaving you with very little to spare to take care of other responsibilities. If saving time is important to you, a micro-business loan without credit check will allow you to get the extra cash you need without spending long hours haggling with the bank.

When you opt for a fast online cash advance, you generally receive your loan within one day of your initial request. This allows you to keep your focus on your business rather than losing half a day or more going through a lengthy bank process.

No credit check, less restrictions

In today’s digital world, more and more people prefer to get a loan online instead of going through the traditional system. Two of the biggest reasons for this are limited restrictions in place and the fact that no credit checks are required.

Were you aware that getting a loan from a bank can hurt your credit rating?

You read that right, when you go to a bank for a loan, they perform what is known as a hard credit inquiry into your credit history. This can actually have a negative impact on your overall rating.

With an online cash advance, you can skip the loan credit check while avoiding the many restrictions put in place at your local bank. This means you can spend your loan on your home business however you please without worrying about a potentially damaging credit inquiry.

Serve your needs only

Oftentimes, when running a micro-business, you will only need a low influx of cash between a couple hundred and slightly over a thousand. Online loans generally range from $100 to $1500, which is more suited to better serve the needs of your home business.

Most financial institutions don’t find it worthwhile to offer loans in such small amounts. If you want to avoid having to take out more than you need, a loan without credit check is the way to go.

Summing up

Finding the right loan for a micro-business can be overwhelming when going through your local financial institution. Bank take much more of your spare time to acquire a loan and can negatively impact your credit rating by performing a hard credit check.

In addition to this, the amount most people need for the operation of a micro-business falls short of what the bank is willing to lend you.

If you have any questions or would like to apply for a Friendly Lender loan without credit check, don’t hesitate to contact our team!

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Credit & Debt

How can you plan for a cash loan to help you financially in Ontario?

Have you ever considered financial help in the form of an online loan?

If you don’t have access to emergency funds when a financial situation requiring your immediate attention arises, it can be difficult to find the necessary resources in a short period of time. You shouldn’t panic, however, as finding financial help in a hurry is possible with a quick online loan.

First-time applicants are often hesitant when considering a quick cash advance from online lenders. This is perfectly normal and there are ways to plan for a cash loan which can help you greatly before moving forward.

Here is everything you need to consider before applying for a loans in Ontario.

Plan a cash loan: define your needs and calculate costs

The first step in planning for a cash loan is to define your financial needs.

This may seem trivial at first but clearly outlining the reasons you need financial help will allow you to determine exactly how much you need to borrow. You don’t want to end up in a situation where you borrow over the amount you are able to pay back and you also don’t want to come up short for your financial needs.

You may need financial help for any number of reasons, including but not limited to:

  • Home renovations
  • Car payments
  • Overdue bills
  • Everyday expenses
  • Finding a loan without a credit check

Take the time to carefully consider how much money you will need for the outlined expenses and you will be ready to move on to the next step.

Will you be able to repay your loan?

Once you’ve calculated how much money you need to borrow, it’s important to make sure that you can realistically pay the amount back when the due date for your loan comes around. Your plan for a cash loan in Ontario should include an estimate of how long it will take you to pay back the money you borrow.

If you find that you won’t be able to afford to pay the loan money back, you will need to adjust your plan according to your financial situation. Regulations in Ontario prevent you from extending the time of repayment for your credit, so it is very important to plan for this in advance.

Understand the terms

When it comes time to make a credit agreement, be sure that you fully understand the terms and conditions of your cash loan. This includes the interest rate and duration of time you have before repaying the loan.

Beware of any upfront charges and don’t hesitate to compare different lenders to find the best offer. You should also make sure you can qualify for an online lending by meeting the following criteria:

  • Over 18 years of age
  • Legal resident of Canada
  • Make at least $800 in monthly pay
  • Have an active bank account
  • Provide a valid email and phone number

Credit score

It is also important to understand that quick online loans don’t require a review of your credit score. Therefore, if you’ve been refused by a bank in Ontario, planning for a fast cash loan is still an option as long as you have a stable income.

Summing up

Having a plan before applying for a cash loan is crucial if you want to avoid unnecessary financial woes down the line. Define your needs, calculate costs, determine your ability to repay the credit and be certain that you understand the terms before making a final decision for a cash advance.

Don’t hesitate to contact the Friendly Lender team if you have any questions about planning for a cash loan!

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Credit & Debt

4 reasons why people under 25 should consider getting a cash advance with no credit check

Are you a young adult under the age of 25 who is considering getting a payday loan but hesitating because you’re unsure if it’s the right decision for you?

There are many reasons young people might seek a cash advance with no credit check, and these reasons aren’t always connected to financial troubles.

These types of cash advances are often presumed to be sought out by people who have made bad financial decisions. This is certainly not the case, however, as the college-age population can have many varying financial priorities while also not necessarily being in a bad economic position.

Many people, even those with good credit, opt for online loans like those offered by Friendly Lender and feel no shame in doing so. Here are 4 reasons why.

Getting a cash advance online saves you time

Young people often value their time more than anything and getting a fast online cash loan allows them to get the money they need rapidly without having to worry too much about time management.

With online loans, you can fill up a form and apply for a rapid cash advance in a matter of minutes!

Obtaining a loan from a traditional financial institution can take a week or longer while a cash advance only takes 24 hours. This is an enormous timesaver for any young person with a busy schedule.

Less restrictions and no credit check

Another reason people under 25 consider getting an online loan is the convenience of having fewer restrictions in place. Banks often have many hurdles that must be overcome before you can receive your requested loan.

One such obstacle is presented when the bank performs a hard credit inquiry on you. This means the bank will verify your credit rating which can actually have a negative effect on your overall score.

No borrowing minimums with online cash advances

When you go to a bank for a personal loan, they often have a minimum amount that you must borrow which can far exceed the financial needs of someone under 25. This amount can be upwards of $10,000, an absurd amount for a majority of young people.

A loan without a credit check, on the other hand, will allow you to borrow anywhere between $100 to $1,500, which equates to a far more reasonable amount for the needs of many young borrowers.

Get a cash advance with no credit check but keep all the control

Finally, one of the biggest reasons young people should consider a cash advance without a credit check is the amount of control they have over where the money goes. With a traditional bank, the approval of your loan often comes hand-in-hand with an agreement for how your money will be spent.

Online cash advances give you complete freedom in how you spend the money you receive whereas a bank can penalize you for not spending your money in a way which follows your predetermined agreement.

Summing up

As you can see, there are numerous advantages to getting a cash advance with no credit check for people under 25, even when going through a traditional financial institution is an option. You can save time, face fewer restrictions, borrow the amount you want and have total control!

Don’t hesitate to contact the team at Friendly Lender for any questions you may have regarding online loans !

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Credit & Debt

Can you get a home improvement loan with bad credit in Ontario?

Do you have a home renovation project to complete but are unable to obtain the necessary funding because of bad credit? Home renovations are often necessary and can bring you many positive benefits.

However, these renovations tend to be expensive and additional funds can be a great help for the completion of your project. There are numerous reasons you may be looking for a home improvement loan in Ontario, including:

  • Increasing the resale value of your home
  • Making your home energy efficient
  • Updating a room
  • Remodelling your basement
  • Improving safety and security

Being unable to obtain a loan due to bad credit can be incredibly frustrating when you have a project that needs to be finished. Luckily, there are options available and you don’t have to let your dream home pass you by because of your credit rating.

Home equity loan

The first option available for a home repair loan with bad credit in Ontario is to look for a home equity loan. Many people hesitate to take out these types of loans because they involve putting up your home as collateral, which can be risky if you’re not careful.

While you certainly wouldn’t want to lose your home because you needed to carry out renovations, home equity loans do have some upsides such as a lower interest rate when compared to most traditional loans.

Co-signer

Your next option is to find someone (usually a family member or close friend) that is willing to co-sign on your bad credit loan in Ontario (thus accepting equal responsibility for the repayment). Having a co-signer not only helps you get approved but can also reduce your interest rates and even boost your credit score if payments are made on time.

This option of course requires finding someone to assume liability in the event a bad credit loan can’t be repaid, which is not always easy.

Private lenders

Private lending services such as Friendly Lender are another valid option for obtaining a home improvement loan when your credit rating is low. There is far less risk associated with an online loan for bad credit in Ontario because they don’t require you to put up collateral and there are no credit checks involved.

In addition, the approval process tends to be made within 24 hours of a request, so you can receive your loan quickly to begin your home repairs. Certain criteria must still be met for these types of loans; however, these criteria are far less intrusive when compared to those of traditional financial institutions.

Refinancing

A final option is making a cash-out refinance on your home. This involves refinancing your first mortgage and can actually have lower interest rates than a home equity loan.

Refinancing should be approached with caution, however, as you may end up paying more than you bargained for. If you’re considering a cash-out refinance, use a mortgage refinancing calculator to see if it’s right for you.

Summing up

For those looking for a loan with bad credit for their home renovations, there are still many possibilities that can be considered. Take your time to carefully decide which option is most suitable for your current financial situation.

Don’t hesitate to contact the team at Friendly Lender if you have any questions!

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Credit & Debt

Finding a Personal Loan in Ontario with Low Income

Did you know that having a low income, problems with credit and other financial hurdles doesn’t make it impossible to apply for a personal loan in Ontario?

Many people are still under the impression that having a low income or a bad credit rating leads to a dead-end when applying for a loan. This, however, generally only applies to certain financial institutions and is not the case for smaller private lending companies.

Private lending services can be a great option for low income earners that don’t want to have to take out another high-interest credit card or ask friends and family for money.

As a matter fact, you can apply online, from the comfort of your own house!

Whether your personal loan application was refused by the bank or you’re just looking for a quick cash advance, this article will help clarify your options.


Who can qualify for a personal loan in Ontario?

In order to qualify for a low income personal loan in Ontario, there are certain basic criteria that must be met:

  • Being over the age of 18
  • Being a legal resident of Canada
  • Having an active bank account
  • Having minimum monthly earnings of $800
  • Having a valid email and phone number

If you’re someone who meets these simple requirements, you can obtain a quick personal loan in Ontario in under 24 hours. All you have to do is apply online and have your application verified so you can be connected with a trusted lender.

Low income earners often have many diverse reasons for applying for a personal loan online:

  • Needing extra help with everyday expenses
  • Obtaining a car loan with bad credit
  • Difficulty keeping up with bills
  • Recent loss of employment
  • Unforeseen medical expenses

Chances are if you’re a low-income earner, you may have experienced one or more of these issues. Luckily, there are options available to help you get your finances back in order.

Choosing a personal loan that’s right for you

Having a low income doesn’t mean that applying for a personal loan in Ontario to help with financial problems is unattainable. There are, however, certain things to consider before applying.

You should first be certain that the payments you will be making are affordable and realistic based on your monthly earnings. It’s never a good idea to overstep your financial boundaries.

It’s also important to understand the terms of any loan and if they will impact your credit score. Once you feel comfortable with the amount you can borrow, it’s as simple as applying for a personal loan online.

Additionally, be mindful of predatory lenders that exist to take advantage of you. If an interest rate seems too-good-to-be-true or they make grandiose claims, you might have reason to be cautious.

Summing up

Struggling to find a personal loan in Ontario when you have low income can be tiresome and discouraging.

With a private lending service such as Friendly Lender, you can finally get the money you need exactly when you need it!

Don’t hesitate to use our online loan calculator and contact us if you have any questions about our services.

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Money Tips

Why are more people turning to quick online loans?

 

 

Traditionally, if you needed to get a cash advance for anything from car payments to home renovations, your only option was to go through your financial institution, and, as a result, you were subjected to their strict requirements.

Today, thanks to alternative services becoming available online, many people are realizing that they aren’t limited in their financial options, and are turning to quick online payday loans in Canada over traditional bank loans.

From debt consolidation to travel financing, private lending services in Ontario and the rest of Canada are transforming the way people borrow money. Never has it been easier to get a loan you need as quickly as possible with little-to-no trouble.

Check out our free loan calculator now!

What makes online loans so much more desirable than traditional ones?

How do people benefit from quick online loans?

When looking to obtain a personal loan in Ontario and the rest of Canada, going through your bank is usually the first option that comes to mind. But if banks are the obvious preference, why do so many people seek out quick online loan services?

Practicality

The most common reason so many people look for quick online loans is due to their practicality. Online loans can be applied for from your computer without ever leaving your home and having to travel to the bank.

Easy approval

Another significant benefit to obtaining a quick loan online is how easy it is to get approved. Banks tend to be very choosy when approving loans and often refuse loan applicants in Ontario for numerous reasons, such as a bad credit rating.

Time

One of the most discouraging things about needing a loan is the amount of time it can take to complete the process. With quick online loan services, people can generally obtain their loan within 24 hours of applying, making it a rapid solution to save time.

Low risk

Another deciding factor for many people is the low risk associated with online loans. For one thing, interest rates on short-term loans are fixed, so there is no risk of changing rates.

Because they are usually unsecured, loans of this type also don’t require the borrower to offer collateral as a backup. This means there is no risk of losing your possessions should any complications arise.

What are quick online loans used for?

People often think that quick online loans are for absolute emergencies only. This is certainly not the case, as there exists a variety of reasons people borrow money online in Ontario.

You may be surprised to discover just how many different uses a quick online loan can have:

  • Car financing
  • Home renovations
  • One-time purchases
  • Vacation expenses
  • Wedding costs

As you can see, people have diverse needs when it comes to applying for a loan.

Summing up

Services such as Friendly Lender that offer quick online loans provide a convenient solution for those looking to obtain a rapid cash advance. They are also suitable for anyone with bad credit that is unable to apply for a traditional bank loan.

Don’t hesitate to contact us with any questions you may have!

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Credit & Debt

Why get a debt consolidation loan with bad credit in Ontario?

Have you recently been denied a loan with bad credit in Ontario?

This is a common problem for many people in the province who struggle to pay their bills on time. Getting your financial situation back to normal so you can save up and get rid of debts can be a demanding process requiring patience and restraint.

Many financial institutions in Ontario have strict rules regarding credit checks when looking for a personal loan. If you happen to have bad credit, it will be extremely difficult to obtain a loan of any kind from a bank.

One viable solution for many is debt consolidation. This simply refers to combining your debts and obtaining a lower interest rate for them.

In this article, we will explain what a debt consolidation loan is and how it may potentially be the right decision for you.


Loans with bad credit in Ontario

Before diving into what debt consolidation loans are, it’s important to get an idea of what your options are for obtaining a loan with bad credit in Ontario.

When most financial institutions are likely to refuse your loan application, where can you turn for help?

Here are some of your options:

  • Apply for a home equity loan
  • Borrow from friends and family
  • Find a co-signer for your loan application
  • Look for online loan providers such as Friendly Lender

Depending on your financial situation, some of these options will be better than others. Home equity loans, for example, risk the loss of property if you are unable to fulfill your obligations.

Debt consolidation loans

Debt consolidation has the potential to save you money by enabling you to pay back the debts you have with a single loan and a lower interest rate. This also has the advantage of making it easier to keep track of your financial planning with a simple payment to be made each month.

Debt consolidation with bad credit

If you’re one of many people with a bad credit rating in Ontario, you can still obtain a debt consolidation loan if you have enough to make the required monthly payments. This will be much easier to achieve with a private lending service because they often do not require any credit checks.

When choosing a private lender for your debt consolidation loan, there are still stipulations that must be met such as having a stable minimum income and over the age of 18 in the province of Ontario. If you meet the prerequisites, consolidating your debts can eventually help you to re-establish your credit rating.

Why consider debt consolidation?

Debt consolidation makes it easy to avoid missed payments that negatively affect your credit score. Making your payments on time will ultimately bring your score back up to a desirable level.

Managing your debts becomes much easier when they are consolidated into one simple payment. When using a private loan provider for bad credit in Ontario, you also avoid further hurting your credit score when a financial institution performs a credit check.

Summing up

Consolidation of your debts can be a worthwhile solution for you if you have bad credit and are having trouble keeping up with your payments. Private lenders are able to provide quick cash advances without any negative effect on your credit rating.

Don’t hesitate to contact Friendly Lender today if you have any questions.

Applying for an Online Loan is easy as 1-2-3

How it works?

Categories
Money Tips

How to get a quick loan when the bank refuses you in Ontario?

Has your bank refused to give you a loan after performing a credit check?

When your financial institution turns you down because of poor credit or for any number of reasons, you may find yourself wondering how to get a quick online payday loan in Ontario. Luckily, there are private entities such as Friendly Lender that offer services specifically for cases like these.

If you have a bad credit score, the last thing you want to do is make it worse. Private lending services often don’t require credit checks and therefore their quick loans won’t harm your credit score any further.

This article will explore the reason banks often refuse loan applications and why going through a private lender may be a better choice for you.

 

 

Why do banks refuse quick loans in Ontario?

Being denied for a quick loan in Ontario from your bank can be a discouraging experience. It’s important in the case of this happening to understand why you may have been refused.

Bad credit refusal

The most common reason banks in Ontario will deny a loan application is if you fail to pass their credit check. Obtaining a quick loan with bad credit is an exercise in futility at most financial institutions.

Credit report errors

Another possibility is an error on your credit report. These can happen more often than you might imagine and can be worth looking into if you are refused.

Excessive debt

When applying for a quick loan, the bank will often determine your amount of debt in relation to your income. If they find this ratio to be undesirable, they will often reject your application for a loan.

Banks in Ontario have strict requirements for loan applicants and it is always wise to look these over before applying. It is also worth noting that credit checks from a bank can result in your credit rating taking a negative hit.

Quick loans from private lenders in Ontario

Once you’ve been refused a loan from the bank, using the services of a private lender could be the easiest way to get a quick loan in Ontario. Services such as Friendly Lender can provide you with your short-term loan within 24 hours and don’t require any credit check.

The only requirements are that you are a legal resident of Canada over 18 years of age and have a minimum monthly income. Applying for a quick loan online is very simple and will allow you to avoid having to put your credit score at risk unnecessarily.

Here are some advantages of a private loan service over a bank:

  • Personal service
  • Receive loans quicker
  • Flexibility
  • Easy approval
  • No credit check

Summing up

If you’ve encountered difficulty with your bank when looking for a quick loan in Ontario, it may be time to consider using the services of a private lender. Asking family and friends for money or to co-sign a loan isn’t always an option and services such as Friendly Lender offer many advantages over traditional financial institutions.

Don’t hesitate to contact us with any questions you may have!

Applying for an Online Loan is easy as 1-2-3

How it works?