A Canadian emergency loan can help you deal with a serious, unexpected financial situation. You may be grappling with unforeseen expenses due to a variety of reasons, including those caused by the pandemic.

The problem with an emergency is you can’t ignore it. You need to deal with it straightaway, otherwise the situation could worsen. Either that or you simply can’t do without an item if it has failed.

Unfortunately, you may not have enough in your savings account and the expense may be too great to put on a credit card. Luckily, a Canadian emergency loan can provide you with the funds you need to handle the following situations, and more.

Costly Vehicle Repairs

You’re driving down the road and someone slams into the side of your car. Fortunately, your air bag keeps you safe, but your car is a wreck.

You think you’ll be fine since you have insurance and the other driver is at-fault. However, your insurance company tells you must pay your deductible since the other driver was from another region. When you bought your insurance, you opted for the highest deductible available to keep your premiums low.

Now you must come up with $2,500. Hopefully, the insurance company will recoup your outlay through the other driver’s insurance, but in the meantime you must pay. Otherwise, you can’t get your car repaired. Luckily, a Canadian emergency loan can pay your deductible and get you back on the road quickly.

Expensive Appliance Replacements

No one plans to have to have to replace a costly furnace, hot water tank, or refrigerator prematurely either. However, it happens quite often. Unless these items are under warranty, you’ll need to dig deeply to buy a replacement.

Imagine your shock when you discover a mid-range gas furnace costs between $3,000 and $5,500. A water heater will cost at least $1,000 and a new stainless-steel refrigerator more than $1,500.

Once again, a Canadian emergency loan can pay for a replacement and it is a more sensible solution than a credit card. You pay regular payments, but not the compound interest that accumulates on a credit card balance.

Unforeseen Business Expenses

If you’re an entrepreneur or startup you probably rely heavily on your resources to make money. Plus, you probably don’t have a huge cache of money since you’re still building your clientele.

Fortunately, a Canadian emergency loan could help you buy a new laptop or cellphone if yours stops working. These items are vital to your business and it is imperative you replace them quickly.

Family Emergencies

Illness, injury, and medical issues don’t follow schedules. They can occur at any time to anyone in your household, disrupt your life, and seriously impact your finances.

Even though Canada provides good healthcare, it does not pay for everything. Expensive medications, specialist treatments, and many devices are not covered under the Health Act. However, a Canadian emergency loan can help you cope with these unexpected expenses until you can restore your health.

Funeral Costs

Most of us don’t like to dwell on death and consequently funerals aren’t included in many people’s financial planning. Nonetheless, death can strike at any time and funerals cost plenty. Most range between $5,000 and $10,000, but an elaborate funeral could cost much more.

Fortunately, a Canadian emergency loan can provide you with the funds to attend to loved ones. Pay back the expense at your own pace over a short or long period. Choose from weekly, bi-weekly, bi-monthly, or monthly payments that suit your lifestyle.

Extra Funds to Get You on Track Again

It’s not surprising that many people have had to make changes over the past few years. Perhaps you’ve found a new job or moved to another region to improve your personal situation.

However, these changes can also put a big strain on your finances. Even though you’ve been in your new place or job for a while, you may have accumulated bills that you need to take care of now.

Luckily, a Canadian emergency loan can pay off those pressing bills so you can get back to a regular routine. It’s a far better choice than a credit card, since every fixed, regular payment reduces your balance and you have peace of mind knowing precisely when they’ll end.

How to Choose a Great Canadian Emergency Loan

A Canadian emergency loan is available from many lenders, but some are definitely better than others. Here’s a few reasons why you will want to consider FlexMoney if you need capital to get you through difficult times.

Apply Online

It is easy to apply for a Canadian emergency loan. You don’t need to make an appointment, stand in long lines, or wait for days to discover whether you’re approved. The entire process is conducted online from the simple application form through to signing your loan documents. The process is blazingly quick too.

We Consider Many Factors

FlexMoney does not have minimum credit score requirement and we consider many factors beyond your credit file to make an informed decision. Our artificial intelligence assessment is often more lenient than those used by traditional lenders. If you have a regular income and a reasonable credit score, chances are you could qualify.

Quick Decision

FlexMoney doesn’t leave you dangling when you apply for a Canadian emergency loan. You should get a decision within minutes. If pre-approved, we’ll lay out the terms we are offering you, including the interest rate.

The pre-approval process should be your preferred method as it does not impact your credit file. If you decide you don’t want to move forward, no problem.

Competitive Interest Rates

Some online lenders take advantage of people who are unable to qualify through a traditional lender. Often times, they charge higher rates when the applicant has a less than pristine credit file, they’ve moved recently, or they’ve changed banks.

Others simply charge astronomical interest rates, because they know it’s an emergency and you need cash now. You needn’t worry when you deal with FlexMoney. Our rates are very competitive and our requirements are reasonable.

Quick Cash

Even though some lenders claim they have a quick funds release, some take many days or even weeks. However, a Canadian emergency loan through FlexMoney offers money in your bank account quickly.

In most cases, once you sign your loan documents, you’ll have it on the same day or the next morning. The only variables that could affect the speed of your funds transfer are when you sign your loan documents and your financial institution’s business hours. Regardless, you can expect to have the cash you need in your back account within 24 hours.

No Origination or Prepayment Fees

Unlike many lenders, FlexMoney does not charge an origination fee for opening your account. We do not penalize you for extra payments, early payments, or if you want to pay off your loan in-full either.

Flexible Terms

FlexMoney offers a wide range of loans from as little as $500 to as much as $15,000. Take from five years or 60 months to repay and choose from weekly, bi-weekly, or monthly payments. You choose the terms that suit your life.

Great Customer Service

FlexMoney is available to answer questions and solve problems. We offer multiple customer service options, including a toll-free 1-800 number, email, and website support.

We also have an in-depth FAQ section on our website that answers most people’s questions. If you can’t find your answer there, call us, email, or send us a support ticket.

Reasonable Requirements

The requirements for a Canadian emergency loan through FlexMoney are less stringent than through traditional lenders. However, we are lenders and we do have some basic requirements and some instances when we can’t consider your application.

For instance, we cannot consider your application if you’re currently enrolled in an active bankruptcy, consumer proposal, or credit counselling program. We can’t qualify you if you’re income comes from Employment Insurance (EI), Disability Benefits, Canada Child Benefit, Student Aid or COVID-19 relief benefits either.

Other than these restrictions, we’ll carefully assess any application. This includes applications from people whose income comes from self-employment, the Canadian Pension Program (CPP), the Old Age Security (OAS), or from various private and public pension programs.

FlexMoney believes in transparency. Here are our reasonable requirements in point form:

  1. You are a Canadian citizen that is at least 20-years old who has actively worked with the same employer for at least three months.
  2. You also earn a minimum income of $2,000 per month, have a cellphone, valid email address, and three months of financial activity with a Canadian financial institution.

 

Find Out More

A Canadian emergency loan through FlexMoney is more accessible than you might think. Start the application process now by visiting our website. You could have the money you need in your bank account within 24 hours.