INSTANT LOANS
How to respond when crisis calls
Get pre-approved while you apply
Access funds in as little as 24 hours
Poor credit can be overlooked
GET CASH IN 4 EASY STEPS
Apply
online right now
Submit
a few verification
documents
Sign
loan documents
Get
your money the next day
PERSONAL LOAN APPLICATION REQUIREMENTS
Must be 18 years or older
Be a permanent resident of Canada
Cannot be in the process of a bankruptcy or consumer proposal
Be employed for at least 3 months
WHEN THE NEED IS NOW, WE GOT YOU COVERED
Timely, effective solutions for any crisis
Who Are Instant Loans For? You!
If you’re not entirely sure why you’d ever need instant loans, let’s take a look at a case study: Mike has a management position that pays a decent salary, however he has credit card debt. Since he split with his wife, he has been paying double what he used to each month (they used to split everything down the middle).
With half his monthly pay cheque going just to rent alone, Mike now found himself in a very tight financial position, until one day an unexpected situation made him realize how tight it was: he suddenly needed $1200 of work done on his car…on rent week. Beginning to sound like a familiar story?
That is who instant loans are for – anyone whose finances are already stretched to the limit and can’t afford any big expenses outside of a very set budget.
Life happens and as you saw in the example with Mike, sometimes you find yourself needing more money than you have access to and that’s why instant loans can be a lifesaver…UNLESS…
You Choose Payday Loans: The Wolf in Sheep’s Clothing
The single biggest mistake borrowers looking for instant loans make is going to payday loan companies, but it’s easy to see why it keeps happening, despite the industry’s bad reputation.
When under extreme duress and desperately seeking a quick fix to a bad situation, it’s normal for someone to think that a payday loan could be the ideal solution. This is especially the case when conventional banks would never dream of offering instant loans (it takes banks as long as three weeks to issue a loan).
Remember that in the case of Mike, he needed that money on rent week, which means that he desperately needs his car fixed, but he’ll have no choice but to pass on fully repaying the payday loan plus interest because his rent cost won’t allow it.
That’s when the hefty payday loan penalties kick in and Mike goes from having urgent car troubles to having to dig his way out of a debt that compounds at a rate of $500 in interest for every $100 borrowed (on a yearly scale). Most people aren’t aware of this, but that is how payday loans REALLY make money for lenders, otherwise, the industry wouldn’t be profitable.
Where to find instant loans that work for you
So the banks, even the one you’ve been with for ages won’t help. Absolutely no surprises there. They love pushing credit cards on you when the going is good, but once you truly need their help, the relationship is practically non-existent.
Payday loans, as we’ve already covered, are a nightmare just waiting to happen and cause more problems than they solve.
So then, is there a middle ground?
Yes, LoanAway is that middle ground. We process applications for instant loans as much as ten times faster than the regular banks do. Even better, our application process only takes minutes to complete on our website.
Once we receive your application, you could receive approval within minutes or a couple of hours – our agents are here to serve you and understand that you need results fast so that you can solve whatever problem you have rapidly. Once approved, your loan could very well be in your bank account within 24 hours.
Our interest rates are on point with the market and nowhere close to what you’d pay with a payday loan company and, on that note, you don’t have to pay your loan back right away. We can offer to let you repay your loan over a span of 36 months.
All you need to get started is table employment and you must be 18 or older.
We issue Instant Loans for more than just emergencies
You don’t have to be in an urgent situation to benefit from our instant loans. Our customers access them for any number of personal reasons including holiday and vacations, debt consolidation, dental loans, home renovation loans and it goes on. If you’re curious, feel free to contact one of our service agents and they’ll be happy to discuss how we can be of help.
Be sure to also ask our agents about how, over time, you can qualify for re-loans, which not only give you access to some much needed extra cash, but will help to build your credit over time so that being in a financial pinch is never an issue again.
WHERE WE OPERATE
We are committed to provide best customer experience possible. Currently we offer personal term loans in Ontario, Alberta and Newfoundland, but do check back with us soon, as we are working on expanding our reach to other provinces and territories.
Get your loan today
We will notify you of a decision in as little as 30 minutes