The Affordability Crisis in New Brunswick
New Brunswick contains just over 2% of Canada’s population and is among the smallest and least populous Canadian provinces. However, the cost of necessities has been rising in New Brunswick as elsewhere in Canada. Home prices in the province have climbed by more than 70% in the past five years. Many residents are priced out of the market and unable to get started with homeownership. Food prices have risen again in 2024 as they had in 2023. Gasoline prices have jumped as well in 2024.
Meanwhile, the living wage in New Brunswick ranges from $20.85 in Moncton to $23.45 in Fredericton. The estimated living wage, which takes into account the cost of necessities and basic community participation, far exceeds the provincial minimum wage of just $15.30 per hour. Many low-paid workers are unable to keep up with the skyrocketing cost of living.
How Can a Personal Loan Help in New Brunswick?
When you find yourself facing a cashflow shortage or needing to bridge the gap until your next paycheck, a personal loan may help. Friendly Lender is here to assist you in covering your urgent expenses. We don’t conduct credit checks as part of our online application process. Even if your credit history is less than perfect, you can still qualify for a personal loan in New Brunswick through us. We will connect you with lenders across New Brunswick. Fill out a quick online application and get an immediate response.
Requirements to Get a Personal Loan in New Brunswick
You must fulfill the following requirements to qualify for a personal loan in New Brunswick:
- 18 years of age or older
- Canadian citizen or permanent resident
- Permanent address
- Consistent income
- Must have a valid Canadian bank account that has been active for at least 90 days
Instant Bank Verification (IBV) for Personal Loans in New Brunswick
Online lenders may use Instant Bank Verification (IBV) to confirm that the banking details and application details you’ve supplied are correct so the funds will go to the correct person and to assess your eligibility for a personal loan.
Get Approved for a Personal Loan in New Brunswick!
- Minimize NSF transactions
- Minimize number of active payday loans or short-term loans
- Maintain a steady flow of income
Acceptable Sources of Income to Get a Personal Loan in New Brunswick
- Employment income
- Self-employment income
- Financial government assistance
Level Up Your Finances in New Brunswick
Despite the ongoing cost-of-living crisis, there are multiple different ways to level up your financial game in New Brunswick:
- Create a budget. You can use a budget plan to allocate a specific amount of your monthly income to needs, wants, and saving and paying off your debts.
- Upgrade your career skills. Online resources are available to help you earn a certificate and develop skills in almost any domain, from coding to cybersecurity, from graphic design to social media marketing, and much more. Use online tools to develop your portfolio and professional website to help you land the job of your dreams.
- Improve your credit score. Your credit score is an important metric of your financial health and may help you succeed with financial transactions like rental applications or mortgage approvals. Credit Verify can help you access your credit score or credit report. Register online now.
How to Obtain a Bad Credit Personal Loan in New Brunswick
Friendly Lender is here to assist you in covering urgent expenses. Just fill out a quick online application and get connected with online installment lenders across New Brunswick. Apply online now and get an immediate response.
