Frequently Asked Questions

  • What is a short-term loan?
    A short-term loan is one which is received more rapidly than most other loans and must be paid back in a shorter time frame. It is designed to help you meet any financial needs you may have in between paychecks. There are many reasons to take out a short-term loan including paying unforeseen expenses, undertaking home renovations, or moving expenses. Short-term online loans also allow you to avoid costly bank fees, penalties on late payments and service reconnect charges.
  • Do you offer short-term loans without credit check? does not perform any credit checks as part of the process of connecting you to a lender. Once connected to a lender they may, at their choosing, perform credit verification, though bad credit is often not a disqualifying factor in the loan approval process.
  • How much am I able to borrow with Friendly Lender online loans?
    Short-term loans generally range in the area of $100 - $1500. Dependent on your application, the lender decides the amount you are qualified to receive. This amount is subject to increase as you successfully repay your online loans in the allotted time period.
  • When can I expect to receive my loan money?
    Upon approval, the majority of short-term online loans acquired through Friendly Lender are delivered to you electronically within a period of 24 hours, not including weekends or holidays.

    Friendly Lender prides itself in delivering fast approvals because we understand the importance of receiving your loan rapidly in the event of financial emergencies.
  • Am I qualified for an online short-term loan?
    As long as you are 18 years of age or above and legally reside in Canada, you will be able to qualify for our online loan services.

    Other requirements put forth by a majority of lenders are that you have an active bank account and take in at least $800 in monthly pay. You will also need a valid email address and working phone number.
  • Do I still qualify for a loan if I have bad credit?
    Short-term online loans are obtainable without credit check. The negative status of your credit score will not affect your qualification for a short-term loan. Credit checks do not factor in your ability to receive these types of loans in the majority of cases.
  • Are there any types of fees involved for Friendly Lender online loans?
    The Friendly Lender network has some of the most competitive fees in the industry.

    Short-term loans tend to be more costly than traditional bank loans and are mainly intended for short-term needs. Please be sure to understand all terms and costs before accepting a short-term loan.
  • Are there any restrictions on how I use my loan money?
    No, you may apply for and use the loan money for any purpose you wish. Some general uses for short-term online loans include covering bills, avoidance of late fees, helping with rent or mortgage, handling excessive medical expenses or simply needing extra cash before your next pay day.
  • What procedure do I follow to apply for a short-term loan online with Friendly Lender?
    You simply need to fill in and submit our quick and easy online loan application. The process itself takes just a couple of minutes.

    In most cases the application is reviewed and approved almost instantly.
  • What information is required to complete the loan application?
    The information required in order to complete a request for an online loan includes your name, address, contact details, employment information, and banking details. SIN is not required, but opting to include it with your information may increase your options for the amount of online lenders available to you.
  • Is my personal information secure when using Friendly Lender’s online loan services?
    Friendly Lender takes great care in respecting a customer's right to privacy in the management of their personal finances. You can also rest assured that we do not require any credit check when applying for an online loan through our services.

    Our website makes use of a variety of security measures in order to safeguard all of your personal information.

    All sensitive data transmitted between your web browser and our site uses 128-bit Secure Socket Layer (SSL) encryption technology.

    Feel free to consult our privacy policy for more information.
  • Are there any fees to apply to online loans?
    There are no fees charged to make an application with Friendly Lender. The cost of the loan varies depending on:
    • The online lender
    • The amount being loaned
    • The province in which you are a resident.
    Be careful to review the terms before agreeing to any loans.
  • Am I obligated to take out a loan when I submit an application?
    No. Submitting an application simply expresses that you would like a lender to make an approval and make contact with you to discuss your options regarding a short-term loan.

    You may ask any questions, and withdraw your request if you decide you would prefer not to take an offer.
  • How do I repay my loan?
    The amount of the loan and any fees that apply will be automatically deducted from your bank account when your loan repayment becomes due.

    You do not need to take any action to repay your loan.