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Loans Toronto Epidemic: What To Look Out For 2017-10-02T21:50:35+00:00

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Loans Toronto – Why This Term Is So Popular in Google

Living in Toronto can be very exciting, which is why it has the largest population in Canada, but the cost of living has given a need for loans Toronto has never seen in any previous generation. Let’s start with the cost of housing. Renters don’t have it any easier than homeowners it seems. You either find yourself paying such high rent that saving for a mortgage is made impossible, which means buying a home has given rise to the Loans Toronto epidemic.

Homeowners, for their part, are just a 1 to 2% interest hike from defaulting on their mortgages and are just as susceptible to needing a loan to keep their heads above water as anyone else. Everyone is feeling the pinch of an economy that is not seeing a rise in spending power, but continues to experience huge spikes in costs of living.

Beware of the open bear trap that is the payday loan

You’ve likely seen this epidemic first hand with your own eyes in the form of roadside ads offering loans for mortgages to anyone willing to call. You’ll also find these ads littering the classifieds of the free newspapers.

But that is where we find ourselves today – Torontonians have the highest cost of living in the country and the need to borrow money is now more common than ever. From sudden car repairs to home renovations, there’s always a new, unexpected cost popping up and putting a major dent in the finances.

So what kind of loan should you get? If you’re looking for reasonable interest rates and flexible repayment schedules, you DO NOT want to go for payday loans. All you’ll find are high-pressure, predatory arrangements that will only add more stress.

Those dingy little storefronts offering you quick and cheap access to money until your next pay drop have other designs in mind and none of those designs have anything to do with genuinely helping you. The game is slanted against you with payday lenders banking on the likelihood you won’t be able to repay your debt in time and be forced to pay brutal penalty fees.

Conventional banks are pretty bad in their own way. While they aren’t predatory like the payday loans industry, they are nonetheless a pain. What you can expect when you go to the bank for a loan – even a short term loan – is a grueling application process that can be drawn out for as long as three weeks. They aren’t really concern with how urgent your need for the loan might be.

Do you want a loan that will be approved within minutes to hours? And once approved get that money within 24 hours? Then you definitely don’t want to go with a regular bank which will treat you like a number and make you jump through hoops no matter how long you’ve been with them.

Get personal loans in Toronto

loans torontoSo if you are looking for loans that are approved fast and can be repaid at a comfortable pace (up to 36 months) at reasonable interest rates, you want to consider taking out a loan with LoanAway.

The difference between LoanAway and big banks is our staff – they’ve been trained to immediately assess applications upon delivery in a way that allows for you to get approved far faster than what Bay street would ever do.

We’re also far different from the predators you find in the Loans Toronto epidemic, who’ll do everything they can to lock you into high interest loans they’ll expect you to repay in a time frame that will prove impossible to work with, thus continuing your dependence on loans.

What you do with your loans is entirely up to you. Have any extra space in your home that could bring in some extra cash? We provide home renovation loans. Have an expensive dentist’s bill to settle? We can help. Are you fed up with having to juggle debts with multiple creditors? Use our loan to repay all those outstanding debts and repay what you owe only one day of the of the month for up to 36 months.

Our specialists understand that you have your own specific reasons for needing to borrow money and work as closely with with you to craft a repayment schedule that accommodates your needs.

Apply for a loan today

We’re here to help! If you’ve never approach any private lenders about taking out a debt consolidation loan, we welcome you to take your time and have any questions answered. Our staff is very friendly and knowledgeable and ready to discuss what concerns you may have about taking out a loan as well as let you know exactly what you can expect once you do take a loan.


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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