LoanConnect Review

Loans in CanadaFinding a Canadian lender for your loan needs.

Sometimes you need to shop around for a loan.
Whatever the purpose of wanting to borrow money might be – banks might not be the best or only solution. You might have a credit score that is lower than what banks require, You need to look around for other – more “creative” lenders. In Canada, there are many lenders willing to take a closer look at your situation. How do you find them?

If it is a mortgage you are looking for, most likely there are mortgage brokers in your neighbourhood.
Your Realtor might know a mortgage broker and can point you in the right direction. If your loan needs are for more personal reasons, there could be dozens of choices where you live. Or not.

Is there such a thing as a dedicated search engine for loans?
Indeed there is. In Canada we are fortunate to have a popular and effective FREE search engine for loans called LoanConnect. Based on your personal needs and situation, Loan Connect will take some basic information on their website and search multiple lenders using highly secure web connections. You then get a short list of possible lenders that might look favourable on your application. You then go to the lender of your choice from that list and complete your application. Your credit report will not show this inquiry.

Is it a hassle to apply?
No.You click HERE. You will be asked to answer some basic financial questions and desired loan amount to help the algorithm find the best matches for your situation. Then you select a lender and continue on the lender’s site. NOTE: Some lenders will offer instant approval. This means you will receive the money as fast as a day or two!

Is it easy to get approved?
It all depends on your situation. There are some basic parameters common to all loan applications such as credit history/rating, job situation and other factors. Let’s face it – loans are not free money. Lenders want their money back with interest. So it is reasonable that they have the need to feel reasonable comfortable with your ability to pay back the loan. Especially if the loan is not secured. Most lenders are willing to take some risk though, some more than others but then you pay for that privilege by paying more interest.

What can I use the loan for?
Pretty well whatever you want. You can consolidate your debts, improve your credit, pay off credit card balances, vacations, vehicles or large ticket purchases. Yes, even to invest for retirement you might just consider a loan. If you are confident your investment will yield a higher rate than the loan interest.

LoanConnect can offer you a choice of lenders.
Regardless of where you fall in the credit spectrum you will be considered for a loan. Rates can be as low as 4.6% APR to much higher for less credit worthy consumers.

LoanConnect is Canada’s leading personal loan FREE search engine.
They offer a choice of lenders for all consumers, regardless of where they fall in the credit spectrum – and for all needs. Loan terms vary from 6-60 months.