A Burlington online installment loan can offer you great benefits, if you choose the right lender and the right loan. Fortunately, you don’t need to spend hours scouring the internet for either.
FlexMoney is here to show you why we are an excellent lender and why we offer the best Burlington online installment loan available. Take a look at these 7 reasons that set us well above our competitors.
1. Simple Process
Many lenders make borrowing a long, difficult process. Starting with a complicated application form, things don’t get any simpler. You may need to make an appointment, dig up paperwork, and wait and wait.
Luckily, borrowing needn’t be that hard. FlexMoney doesn’t believe in making things more complicated than necessary. Our entire loan process is easy, fast, and totally online.
When we state our loans are online, we mean it. We don’t think people want to take time out of their busy day to see a loans officer. Instead, you can apply at your convenience from any device connected to the internet. Plus, our application form usually takes less than 15-minutes to complete. That’s because we are only interested in where you stand now, not where you lived, worked, and banked ages ago.
You will never need to visit an office to drop off proof of income or to sign your loan contract either. That’s totally unnecessary in our digital age. FlexMoney confirms your income electronically, quickly and safely. You can sign your documents digitally too making the process simple and fast.
We invite you to check other lender websites and blogs to see if they spell out what they need from you to qualify. Chances are, you won’t easily find this information. In fact, you may not find it all.
FlexMoney doesn’t work that way. We believe people want to know whether they have a chance of approval, before they take the time to complete an application form. After all, there’s no point in providing a lender with your personal information if you haven’t got a snowball’s chance of getting a Burlington online installment loan.
Consequently, here are FlexMoney’s basic qualification requirements. If you meet these requirements, you have a good chance of qualifying:
- Canadian citizen
- At least 20 years old
- Earn a net monthly income of at least $2,000 from the same source for at least the last three months (we consider employment, self-employment, and pension income)
- Mobile phone number
- Active email address
- Active account with a Canadian financial institution with at least three months of transaction and banking history.
Sorry, We Can’t Help If…
- You are currently enrolled in an active bankruptcy, consumer proposal, or credit counselling program.
- Your income is based on Employment Insurance or government benefits related to COVID-19.
- You supply false information in your application.
3. Fee-Free Loans
When you borrow from us, you will not pay extra fees. This is not the case with many other lenders that make it seem some costs are a usual part of borrowing.
For instance, many lenders charge an origination fee just for setting up your loan account. This can cost you between 0.5 – 8% of your total loan amount. Luckily, FlexMoney considers this a normal business expense, not one you should bear.
Another common lender charge is a pre-payment penalty. Lender apply this when you want to pay off some or all of your loan, besides what you pay through regular scheduled payments. This penalty is meant to compensate the lender for the interest they would have collected if your loan repayment had taken longer.
Fortunately, FlexMoney does not handle your loan in this way. We believe pre-payment penalties are bad business, since customers will justifiably feel they’re being forced to pay more to get out of debt sooner.
We welcome your extra payments at any time and we’ll never penalize you for doing so. Providing an “open” Burlington online installment loan is one of the reasons our customers rate us so highly and refer us to others. Plus, it is always a good thing when our customers are in a better financial position. When you do well, we do too.
4. Outstanding Customer Service
Let’s face it, good customer service is hard to find today. As a result, most online lenders tend to rely on email for customer service. It’s easy and economical, since the company only needs one customer service representative who can work at their pace until they reach your email.
While this might be fine in some cases, what happens if your issue is urgent or complicated? Do you sit, wait, and hope that the company will respond with the information you need? Will you have to start again if they send you a canned response that is completely off the mark?
Luckily, none of this is an issue when you choose FlexMoney. We offer a toll-free telephone number, Canadian customer service representatives, and Ontario business hours if you want to talk to an actual person.
Of course, we offer email support, but you can also connect with us via chat or website support. We also have an in-depth FAQ page on our website if you’re looking for a quick answer to common questions.
5. Less Stringent Requirements
Most lenders place a very heavy emphasis on your credit. Some even have a minimum credit score requirement. If you score below this, they’ll automatically turn you down for a loan. This creates several major problems for borrowers.
First, the lender won’t tell you what score you need to beat. Second, Canada’s two credit reporting agencies rate borrowers differently, so you could potentially fail with one and pass with the other. Equifax considers a score of over 660 good, while Transunion’s good score starts at 720.
To complicate matters further, some lenders use a pre-approval process, while others don’t. The pre-approval process uses a “soft” credit inquiry, which does not impact your credit score.
However, lenders that do not pre-approve applicants request credit information using a “hard” inquiry. This provides them with your entire credit file and it lowers your credit score by up to 12 points.
Fortunately, FlexMoney does not have a minimum credit score requirement. We pre-approve our clients too, so the credit review process does not lower your credit score.
6. Wide Range of Loan Options
FlexMoney is a select lender that offers you more. For instance, most lenders won’t grant small loans. They expect people to rack up their credit card, despite the high cost of compound interest.
However, many people don’t have a credit card, or they wisely choose not to use one. They’d prefer to borrow at a fixed interest rate and pay regular payments. That way they’re not being charged extra interest on their outstanding loan balance every month.
Fortunately, a Burlington online installment loan through FlexMoney means you can choose a loan amount of between $500 and $15,000. You pay simple, not compound interest and know precisely when you’ll pay off your loan.
If this is the first time you’re considering an installment loan, you could actually strengthen your credit score if you move ahead. Credit agencies value those that handle various credit forms well. Your credit mix accounts for 10% of your overall credit score.
Once you establish a rapport with FlexMoney, it is much easier to borrow again. You may also enjoy better terms on your next loan.
7. We’re Fast
We already mentioned that our application form is simple. However, once you submit it that’s when the magic happens.
First, you will get our decision within minutes. We use an artificial intelligence assessment to zip through applications, no matter the time or day of the week.
Second, if you’re pre-approved, you’ll immediately see our terms. Rest assured, the process does not affect your credit score. You can continue shopping worry-free, if you choose. You are under no obligation to accept.
Third, if you like what you see, you can move forward quickly. Just accept our terms and we’ll prepare your loan contract straightaway.
Fourth, review your loan contract and sign it digitally. This triggers the funds release process. If you sign within business hours, you could have money in bank account within 24 hours.
FlexMoney’s Burlington Online Installment Loan
We’ve already provided you with 7 reasons why our Burlington online installment loan and our company are your best choice. If you’re not convinced, the following information could help you decide:
- 100% Canadian lender based in Ontario
- We’ve issued loans to Canadians since 2012
- Member of the Canadian Consumer Finance Association (CCFA) representing the majority of Canada’s regulated installment loan providers
- Simple application process
- No origination fee or pre-payment penalty
- No minimum credit score requirement
- Pre-approval process that does lower your credit score
- Loans as low as $500 and as high as $15,000
- Repayments terms from 6 months to 5 years
- Outstanding customer service.
FlexMoney makes borrowing easy.