Who can apply for a no credit check loan?
Our no credit check loan application is open to British Columbia and Alberta residents and businesses.
To be a candidate for a no credit check personal loan, you:
- are at least 19 years old
- have a minimum monthly income of $4,000
- have been employed for at least 3 months
To be a candidate for a no credit check business loan, you:
- have monthly sales of at least $10,000
We also provide loans to buy a business. To be a candidate for a loan, the prospective company must have existing sales of $10,000 per month. We finance businesses of all sorts, including online and e-commerce companies.
How much can I borrow?
You can borrow up to $50,000.
What are the terms of the loan?
Our loans are generally unsecured.*
You have 1 year to repay the loan.
The annual interest rate will depend on on each application, but you can expect to pay between 15% and 31% per annum.
There are no setup fees.
You can prepay the loan without penalty.
*Our loans are unsecured, except for bicycle loans, which we only issue in Vancouver.
Why are your loans available for one year terms?
Our loans are meant to be short-term financial injections, rather than long-term borrowing solutions. We’re here to give you breathing room. However, it is important that you have a plan in place to repay your debt to us before applying for a loan. It can be expensive to borrow money at high rates for a long period of time.
Can I borrow from you if I’ve filed bankruptcy or a consumer proposal?
Yes. We believe borrowers can turn a new leaf, which is why we are willing to lend even if bankruptcy or a consumer proposal has been filed in the past.
Why is there no credit check?
We give no credit check loans in BC and Alberta because we believe that a person’s credit score doesn’t always paint a full financial picture. We use our own methods to assess an applicant’s credit worthiness.
Are loans reported to credit bureaus?
We do not run credit checks and we do not report loans to credit bureaus. However, your debt may be automatically reported to them if legal action takes place and a judgement is issued against you. As such, it’s important that you keep your loan in good standing.
What is a private lender?
A private lender is a non-bank lender. Private lenders generally issue riskier loans and therefore charge higher interest rates. We are a private lender in Vancouver, Calgary, Edmonton and surrounding cities in BC and Alberta.
Learn more about private lending in Canada.
Are you a payday lender?
No, we do not issue payday loans.
How is the loan agreement signed?
The loan agreement is signed electronically. You don’t need to worry about printing and mailing paperwork.
How long does it take to get funded?
Funding typically takes place within 24 hours of you signing the loan agreement. To expedite the application process you should be prepared to submit the following documents:
- valid government-issued ID
- your bank statements for the most recent three months
Is approval guaranteed?
No, it is not guaranteed that you will be approved for a loan, even if you meet the minimum income requirements.
Hint: check to see if you qualify under our Guaranteed Approval Program
Will I need a co-signer?
While not always required (except for our loans for newcomers to Canada), having a co-signer will substantially increase your chances of approval for a loan.