Friendly Lender

Installment Loans Canada

Installment Loans

Friendly Lender makes it simple and quick to get an installment loan of up to $1,000 through one of its direct lending partners. The form may be completed in a matter of minutes, and some lenders can give a decision within minutes. Make today your next payday with an installment loan!

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*Does Not Affect Your Credit Score

Who is Eligible?

A Canadian Resident
A Canadian Resident

Applicant must be a legal Canadian National or a Citizen

18+ Years of Age
18+ Years of Age

Must present a legal age with age proof

Stable Income
Stable Income

Must have a steady income source 

Valid Bank Account
Valid Bank Account

Applicant must have an active bank account

What is an Installment Loan?

Installment loans are payday loan or short-term loan in Canada that allows you to repay them back over a longer period of time. Depending on the amount borrowed and the lender with whom you are dealing, some of these loans can last anywhere from 90 days to several years. A general rule is: the smaller the dollar amount of the loan, the shorter the term, though this may not be true for all lenders.

Friendly Lender’s lenders provide installment loans that allow you to make payments over several pay periods, rather than having to repay the loan all at once when you get your next paycheque. Friendly Lender takes advantage of industry-accepted best practices for internet security, ensuring that your information is secure. Request a loan with one of our lending partners ranging from $1,000 to $10,000.

Looking for bad credit loans? If you are accepted for a loan through Friendly Lender and one of our direct lending partners, funds can be sent to your account the next business day! You may receive cash right away if you need it to handle financial difficulties.

We realize that life’s unexpected events might have an influence on your finances in ways you hadn’t considered. One way to alleviate some of the tension of paying off bills or covering emergency expenditures is to take out an online installment loan, which lets you pay it back one installment at a time.

How Do Installment Loans Work?

The easiest way to explain it is that installment loans in Canada are comparable to a payday loan that is paid off through regular payments over a predefined length of time. Under this payment method, installment loans do not need to be repaid in a single sum on your next payday, making it easier to achieve your financial objectives.

Credit card debt consolidation loans are a type of unsecured personal loan that lets you consolidate your existing bills into a single payment. This kind of lending has some benefits, such as the ability to make payments over time and no early pay-off penalty. These loans can be more cost-effective than other types of payday loans in certain situations.

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

How it works?

Fill an online Application
Easy, safe and secure online application
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Get Quick Decision
Get an almost instant decision on your application
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Receive Money
Funds deposited into your account as soon as next business day

What Are the Different Types of Installment Loans?

There are two types of installment loans in Canada that you can request. Secured and unsecured loans are the options. What these two types have in common is that they both allow the loan amount to be repaid over a set period of time.

The first sort of loan we’ll look at is an unsecured loan. These are frequently offered in smaller dollar amounts and do not have any form of collateral to back them. Because they are a greater risk for the lender, these loans have higher interest rates than secured loans. Small-dollar loans, such as payday advances, student loans, or even credit cards are examples of unsecured loans.

Secured loans have lower interest rates than unsecured ones. The reason for this is the collateral. The title to your home or a car or another vehicle are just a few of the examples of collateral that might be used to secure a loan. These things assist your lender in reclaiming them if you don’t pay back the loan on time, providing some protection for the lender and enabling them to recoup their losses.

Non-conversion loans are not the same as revolving credit, and they should not be used as such. One example of revolving credit is a credit card. The payment amount on a credit card payment varies based on the outstanding balance at the time it is calculated.

Can I Get An Installment Loans With No Credit Check?

Some lenders like to claim that they offer “no credit check loans” but that isn’t true. All lenders do at least some kind of credit check. Credit checks that are used for credit risk assessment will examine your entire credit history with a major credit reporting branch, such as Experian or Equifax.

At Friendly Lender, our lenders often do a non-traditional credit check or a “soft” credit check that may not impact your credit score. Some of the bureaus commonly used for soft credit checks are Transunion, Equifax. While we do not offer a “no credit check” installment loan, and no lender does, please keep in mind that we realize how difficult it may be for you to acquire a loan as a result of your bad credit history or the fact that you have no credit. Friendly Lender prides itself on helping people in a variety of situations to obtain installment loans.

Trusted Canadian Lenders

High Customer Satisfaction Rates
High Customer Satisfaction Rates
Fast Cash With Next-day Availability
Fast Cash With Next-day Availability
Most Credit Types are Accepted
Most Credit Types are Accepted

Have questions? We can help.

As long as you are 18 years of age or above, legally reside in Canada and have a steady stream of income, you will be able to qualify for our online loan services.

Other requirements by a majority of lenders are that you have an active bank account and take in at least $800 in monthly payments. You will also need a valid email address and working phone number where you can be reached.

The Friendly Lender network of lenders 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 review all terms and conditions, including the repayment terms of your loan within your consumer loan agreement before accepting a short-term loan.

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.

Have more questions?

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Words From Our Customers

Dustin F.

Kelowna, British Columbia

If you're looking for a hassle-free loan despite having not so 'acceptable' credit score, Friendly Lender is your best bet. I had a wonderful experience with them - they took time to explain everything with patience. They also funded me the same day, and were happy to work after hours to get things done. Highly recommend!

Eddie

Ajax, Ontario

I'm a long-time borrower and have been with Friendly Lender for the past three years. They've always been quick and polite, and there's never been any problem. They also offer lower interest rates. I usually submit my application online, which takes only a few minutes to complete.

Jerry

Calgary, Alberta

It was a snap! I didn't receive the same amount I had requested, but at least I got what I needed right away. The payment procedure is very fast. If you need cash in a hurry, I highly recommend utilizing this service.

Katherine

Barrie, Ontario

Customer service was fantastic, and they offered the best rates of all the payday loan businesses I've tried. Friendly Lender, keep up the excellent job!

We have helped thousands of Canadians Like you at times of need.
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