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PRIVATE LOANS (What Are They & How Do You Get One) 2017-10-03T15:45:58+00:00


When banks turn you away…we can offer:





We’ll approve you a loan up to $5000 within minutes

Private loans – ever wonder why you should consider them? How about for the same reason the vast majority of our clients apply for private loans – because life happens.

When the need for you to borrow immediate extra money arises, the most common reaction is for you to get in touch with your bank with the hopes they’ll come through for you with a private loan…and then they don’t. The problem with conventional banks is that they have far too many rules and guidelines, many of which do not take your individual circumstances into account.

Big banks simply can’t understand that a poor credit score is not necessarily the result of irresponsibility, but that there are many factors that can lead to a poor credit score. But then again, their approach can also be blamed on their shareholders who feel as though anyone with less than perfect credit is too risky to be lending money to.

The other big mistake many potential borrowers make after their bank fails to come through for them with private loans, is to fall prey to the flashing neon sign advertising payday loans. Big mistake. In many cases, you’re almost better off not having any borrowed money considering how predatory the interest rates on payday loans happen to be.

What you might not be aware of is that behind those neon-lit windows and bright, gaudy signs are lenders just waiting to lock you down in a debt you won’t be able to get out of for a long time. That’s the only way they can make money. By the time they’re done getting their principal and interest back from you, these payday lenders will have collected interest rates as high as 200%.

You know you’re dealing with the wrong people when Google now refuses to take money for payday loan advertising and several provinces are taking measures to curb the industry’s existence.

Now, did you know that there are private lenders, such as LoanAway are ready, willing and able to finance you in spite of all the odds stacked against you despite a bad credit history that makes you fear getting a credit check?

Private Loans – When banks turn you away

Put simply, private personal loans (which also include student loans) are designed to allow you to borrow money from certified lenders who are not affiliated to big banks and therefore are not bound by their rigid rules and regulations, making access to money you need far less stressful and removing your fear of credit checks.

Even better – lenders (such as LoanAway) understand that time is very important and have put together systems that allow for faster processing, so that you don’t find yourself waiting and wondering if you’ll be able to resolve the problem you’re borrowing money to solve. Many applicants qualify for same day loans.

Instead of scrutinizing every single detail of your entire financial history, private lenders focus on only the most crucial documents to push your application through. What this means is, not only will you be able to access money faster once approved, but you’ll also qualify if you happen to have a poor credit score. If you have collateral to offer, that will also help speed up the process.

Loan Away Private Loans

Any other differences between a private lender and the big banks?

Yes. A private lender like Loan Away has professionally trained agents reviewing your application in real time.

These agents are specialists in their field and have been extensively trained to assess, approve and close your file – all of this done before your application with a big bank would have passed the first channel of the application process. You could very well find yourself qualifying for a long or short term loans of up to $5000 in a matter of minutes, which is completely unheard of in the banking world.

Not only does the private loan application process move fast – so does the deposit of your funds once your private loan has been approved. you can expect to have access to the funds in as little as 24 hours. And finally, another key difference between private lenders and banks is that companies like LoanAway will give you flexibility with  your unsecured loans repayment terms. You can take as much as 36 months to repay your loan.

The flexibility doesn’t end there. LoanAway understands that you can’t control everything that happens in your life. You might lose your job unexpectedly or require sudden car loans for repairs. If those occurrences happen, you can arrange to make changes to your payment plan.

You can use your private loan for whatever you feel you want, be it to renovate your home, consolidate debt in one shot and gradually repay them to one source. Perhaps you could use a vacation. That is something we can help you. There are any number of reasons and LoanAway is far more accepting than banks are about your reasons for needing (or wanting) a private loan. We are the solution to turn to when you need quick loans at affordable rates and flexible repayment.

One of our online agents will quickly, in minutes, assess your application and find you a suitable solution to repair your credit score.


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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We will notify you of a decision in as little as 30 minutes

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