Bills always seem to arrive faster than we expect them to. If we are not shopping for the holiday season, we are paying fees. It is during these problematic times when our salaries are not enough to cover all the bills and expenses facing us, that we need extra money.
As luck would have it, there is no shortage to the number of cash lenders. A simple search for the phrase, “cash lenders in Canada” delivers hundreds of relevant results. Unfortunately, although the high number of lenders is supposed to make things simpler for us, this is often not the case.
Not everyone is well versed in loan companies and the services they offer and as a result, end up paying extremely high interest rates. In the worst case scenario, they end up getting cheated out of their money.
This guide is dedicated to preventing these, and other problems that may arise from lack of proper knowledge on loan companies. We also threw in a couple of ways to spot fraudsters when applying for a loan.
The three companies reviewed below are some of the companies that offer best cash loans in Canada.
Smarter Loans is Canada’s Loan Directory where you can find loans for any purpose, anywhere in the country. Smarter Loans works with Canada’s top lending companies and provides in-depth analytical information on them, including their products and services, eligibility requirements, interest rates, reviews and much more.
The types of loans you can apply for using the Smarter Loans platform is very diverse, including: persona, business, auto, mortgage, trucks, boats, busses, equipment, machinery, home equity, and much more.
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Ferratum
Ferratum is an international pioneer in mobile lending and financial technology. It is an online bank that looks after short-term cash requirements fast and conveniently. You are well-protected from home repair, veterinary and car repair bills.
The application is free, and you receive a decision within a couple of minutes.You will be taken through a series of checkpoints that take about ten minutes. The best part about the company is that their background checks are run only on similar items of credit to their loans.
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Mogo
Mogo is one of the most established personal loan providers in Canada, however they do much more than that. Using Mogo you can also monitor your credit score and changes to your credit report. Using an online app, you can easily track any products that you have with Mogo.
They have an easy online experience and solid reputation across the provinces that they serve. Loans go up to $35,000 as of 2018. They have different products as well, including Mogo Money, Mogo Card and Mogo Mortgage. Mogo Loans is a popular solution for personal cash loans in Canada.
Conclusion
In an ideal world, everyone would have total control over their finances and have the ability to confront unexpected purchases. Unfortunately, this is not possible. But thanks to such companies as the above that offer the best cash loans in Canada, you can be able to count on a good money supply at your most demanding moments.
Don’t forget to visit Smarter Loans – Canada’s Loan Directory, to find the most up to date list of cash loan providers in Canada.