Ontario is the most populous Canadian province, boasting over fourteen million residents. It is the second least affordable province in Canada. Many Ontarians are struggling to keep up with their expenses. That’s where personal loans can help.
What Is a Personal Loan?
Personal loans allow you to borrow a specific amount of money and pay it back over a period of time. You must pay back the full amount, including any applicable interest or fees.
What Can I Use a Personal Loan for in Ontario?
You can a personal loan for almost any expense, from everyday living expenses to bigger purchases.
Whether you need to cover some urgent medical bills, utilities, rent, car repairs, or almost anything else, a personal loan can help.
Looking to cover a larger expense such as a home renovation? A home equity line of credit (HELOC) may be a good option. Try Equity Recharge! You can borrow between $10,000 and $50,000. Equity Recharge offers competitive rates, does not perform a credit inquiry, and allows you to spend the money however you desire.
When applying for a personal loan, you must provide a proof of income, a valid bank account, and a permanent address. You must also be a Canadian citizen or permanent resident. Friendly Lender can connect you with online installment lenders across Ontario. We do not perform credit checks as part of our application process. Even with less-than-perfect credit, you can get approved!
It is important to know your credit score. Credit Verify can help with that! Register online now. It only takes a few minutes and gives you access to a wealth of personal financial information.
What Are the Pros and Cons of a Personal Loan?
Pros
- Cover unforeseen emergency expenses
- Pay back the money over a longer period of time than payday loans
- Funds may be deposited in your account in as little as 24 hours
- Easier to get approved for an online loan
- No credit checks
Cons
- If you miss payments, you may be subject to additional interest and fees
- NSF and other fees may be charged on top of your existing loan
How Do You Get a Personal Loan?
It’s never been easier to obtain a personal loan in Ontario – you can do it without leaving the comfort of your home.
If you need a personal loan in Ontario, Friendly Lender can help! Fill out our quick online application – we do not perform credit checks as part of our application process. We will connect you with online installment lenders in seconds. The application process takes only a few minutes, and money may be deposited in your account in as little as 24 hours.
Conclusion
Before you take out a personal loan in Ontario, make sure you can afford to pay it back. Friendly Lender is here to help – apply online now.
