If you are looking for an emergency loan in Canada, there are several options for you, but what type of loan you may qualify for is dependent on your credit history. Some loans are not right for borrowers with poor credit and other loans are a better choice for borrowers who have great credit. Some of the options are as follow
Personal loans have many uses and come in many forms. Be sure to research the options available to you to determine what kind of personal loan best suits your needs before you request a loan. These loans are typically paid in a single lump sum with a fixed interest rate and are expected to be repaid in a single lump sum, in a very short period of time, but they can also be repaid in installments over a longer period of time depending upon the lender and the loan you are requesting.
It’s not necessary to borrow a large amount if you only need a small amount of money. You can get a loan of up to $1000 with a personal loan that can help you in a time of financial need, just be sure to take out only what you can afford to pay back within the term of your loan.
Payday Loans are short term, personal loans that are usually repaid on or before your next cheque. Payday loans have higher APRs. Many borrowers consider payday loans when they need a quick injection of cash to pay for small, personal debts before their next payday. It’s important with these types of loans to only borrow what you can afford to pay back in a very short period of time. Also, be sure to read the terms of your contract to avoid any confusion about when your loan matures.
Installment loans are a type of personal loan that is designed to be paid back over a longer period of time instead of repaying the loan in a single payment, the borrower repays the loan over a longer period on a set payment schedule that is pre-determined when the contract is signed. Ask your lender about installment loans if you think this might be a better fit for your situation.
Bad Credit Loans
Bad Credit Loans can be possible with Friendly Lender and the direct lenders we work with. Because these lenders work in smaller dollar amounts, it is possible to qualify for a bad credit personal loan. Even if you have been turned down before, it takes just three to five minutes to request a loan with our innovative online form. Friendly Lender submits your application to multiple lenders, increasing your odds of receiving a decision.
You should be aware that some lending companies claim to offer “no credit check loans.” These types of loans are not real. Every lender does a credit verification. Even if all they do is look at your paystub, that is actually a credit check. Saying that they do not do any kind of credit verification whatsoever is dishonest. Don’t be fooled by companies that promise you something that sounds too good to be true.