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LOANS ONTARIO: Exploring Your Options & Risks 2017-10-03T14:07:50+00:00


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Ontario is not the province it once was even just a decade ago. It went from being one of Canada’s wealthiest provinces to an unceremonious ‘have-not’. Today, Loans Ontario is one of the top searches for queries relating to money.

That really is a sad state of affairs for what was once Canada’s most prosperous provinces.

So why are so many people in the province searching the term Loans Ontario? Jobs have been in steady state of decline for a good while now and the employers that remain know the market is in their favor and therefore offer lower-than-average salaries.

Add to those dwindling salaries the fact that Toronto’s housing costs continue to explode and it’s little wonder that when there’s a spike in the  need for loans Ontario is where it’s happening.

Politics Aside…

It doesn’t matter what political party you identify with. Ontario’s economic woes are now a bipartisan issue. All three of Ontario’s large parties have contributed to the mess that the economy has become and speaking of loans Ontario as a province is now dependent on them to remain solvent.

So the best you can do, if you do need a loan, is to pick the best one for your needs to help you through your troubles. However, you do have to proceed with caution as there are many lenders out there looking to cash in on hard times.

The number one source of borrowed money you should avoid are payday loans. A dirty industry of loans Ontario’s government has largely created the need for and now cannot adequately regulate.

With payday loans come all the circumstances that make an already bad situation a whole lot worse. Exploitative interest rates and near-impossible repayment deadlines almost assure default on the part of borrowers – and that’s exactly how the players in that game make their real money.

Once you get trapped in the payday loan debt cycle, getting out is very difficult as the penalties can see you paying as much as 200% interest on your loan once everything is said and done. Another thing to consider about these types of loans – the store locations are always located in poor regions. You’ll never find them in communities like Toronto’s Yorkville for instance.

Loans Ontario & The Banks: “Don’t ask us for loans Ontario bank say”

It’s little wonder why so many Ontarians turn to payday loans for financial help. Gone are the days when the banks were about helping their communities.

Today, even if you’ve been with your bank for two or three decades, you can expect to be treated with the same suspicion and dispassionate judgment as a perfect stranger when asking for a loan. It’s amazing how in good times, banks instruct their clerks to push as many credit products as possible your way, but to shut you down if the numbers don’t appear to be in your favor.

Your application will easily take between 7 to 10 business days (so as long as three weeks), meaning that if you’re in a bad situation, it’ll be worse by the time you get their decision, which will likely be a refusal. These institutions are partially responsible for the creation of the payday loans industry. Realistically, the banks provide very few of the loans Ontario’s taxpayers require to make ends meet in these challenging economic times.

Any other sources of loans Ontario borrowers can turn to?


Here at LoanAway, we’re headquartered in Ontario and we know first-hand how challenging life in Canada’s largest economy can be.

We’re ready to pick up the slack and provide the loans Ontario’s population needs in difficult times.

And we offer terms that make your life easier. Market-rate interest, rapid application approval (the process can take as little as minutes and you can receive your loan as soon as 24 hours from being approved).

We also offer some of the most flexible repayment terms around – up to 36 months.

What you do with your loan is up to you. You can use it to renovate your home and make additional money as a landlord or to sell your home while the market is still in your favor. You can also use your loan to go on vacation if you need to get away from the stressful situation that comes with a bad economy. If you need any expensive dental loans Ontario doesn’t cover, we’re here for you.

Ready to get started with a better way to borrow money?

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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.

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