What to expect when you look up Loan Toronto in Google
Are you looking for the best loan Toronto has to offer? You’re far from alone. Each day, hundreds upon hundreds of people go to Google and search the term loan Toronto and some of what they (and you) will get in the results isn’t always good. In fact, it can be very bad indeed.
In this Loan Toronto guide, we will show you what you need to look for the next time you’re in need of urgent cash. See, when you’re strapped for funds and you need them fast, there’s a strong likelihood that you’re stressed out. When the human mind gets stressed out, it sometimes starts to think somewhat irrationally.
In other words, you’re prone to making decisions you would never come to if you were completely relaxed.
So let’s take a look at one of the first results you get when you type loan Toronto into your preferred search engine: the infamous payday loan. Hardly any other industry has garnered a more nefarious reputation than this crop of lenders.
If you need a loan Toronto ’s payday lenders will be happy as punch to provide it to you at very high interest rates – and more. What’s the ‘more’? On the surface, most Torontonians see payday lenders as just that – an access point from which to borrow money.
The way you should actually see payday loans is as a carefully programmed machine that is no different from a casino. They are designed to extract the maximum amount of money from you as possible. And much like casinos, the house ALWAYS wins.
How they really operate: You go in for your payday loan application, provide the required paperwork and then, if approved collect your money. You tell yourself that you’ll make a point of repaying the loan on time with your next paycheque.
However, once your pay cheque does come in, you realize that with all of your regular expenses and maybe a couple of unexpected ones, you’ll end up with $37 until your next pay cheque. Obviously, you’re not going to make it. The payday lenders know that.
They know that when people realize what little is left to survive on for two weeks after repaying their principal plus interest and their regular expenses, they default and are faced with the nasty penalties that the industry is so notorious for.
Does that sound like the kind of help you need? Of course not. The good news is that when you need a loan Toronto ‘s borrowers have many ethical options to choose from – for instance, installment loans.
How are installment loans better than payday loans?
First, the time frame. When you have to repay a loan in a time frame that offers zero flexibility, you are highly likely to stumble. With installment loans, you can take your time with repayment. LoanAway, for example, offers customers up to 36 months to repay their loans.
Furthermore, if LoanAway’s customers finds themselves unable to make a scheduled payment on time, we work with them to sort things out and arrange for an alternate date with no penalties incurred.
Then there’s the interest rates – starting at 19.99%, our rates are on par with “conventional” lenders.
Our speedy approval process is what sets us apart and what our customers like most about us.
You can easily find yourself going from filling out our easy 8-minute online application form to being approved for your loan within a couple of hours. So next time you find yourself looking for the best loan Toronto has to offer, skip the search and come right over to LoanAway.