Fast Canadian online loans should offer an easy process that gets money in your hands in a flash. Unfortunately, that’s not always the case.

Some lenders disregard how long it takes to get through their complicated application and very detailed requirements. They only measure how long it takes until you get funds after you’ve jumped through all their hoops.

FlexMoney doesn’t look at the lending process in this manner. We try to make your experience as hassle-free and simple as possible. Here’s just a few of the reasons why we offer the best, fast Canadian online loans.

Apply in Less Than 15-Minutes

FlexMoney offers a very simple application form. You’ll need to supply basic information such as your name, address, telephone number, email address, as well as your source of income.

We’re only interested in your recent information. Consequently, you won’t need to labour over a lengthy application form that asks for banking, work, and residency details over many years. Most people can easily complete our application form in less than 15-minutes.

Our system is also fully-automated, so you can apply at any time from any device. There’s no need to wait for office hours.

Verify Your Income Electronically

This is where things can get sticky when you apply through other online lenders. They will ask you to state your income of their application form, but then you must verify it with written documents.

Suddenly, you find that you need to dig around for pay stubs. If you don’t have those you may need a letter from your employer. Obviously, this is a real time waster.

Luckily, electronic income verification eliminates this hassle. FlexMoney confirms your regular income deposits through bank statements, with your permission. It only takes a few minutes and you don’t have to do anything. Your banking and personal information is kept safe and secure.

Soft Credit Inquiry

It is a standard practice for lenders to check your credit when you apply for a loan. However, lenders can use either a “hard” or “soft” credit inquiry.

A hard credit inquiry can lower your credit score. This happens whether you qualify for a loan or you’re turned down. Plus, the inquiry stays on your credit file for up to three years.

On the other hand, a soft credit inquiry does not impact your credit score. If you decide not to borrow or you’re turned down, you never have to worry about it. There’s no obligation and the inquiry will not lower your credit score. FlexMoney uses a soft credit inquiry.

We Consider Income from Various Sources

Many lenders offer Canadian online loans. However, most only accept applications from those with regular employment income. This is unfortunate, because many people earn money in other ways.

Luckily, FlexMoney considers applications from pensioners, the self-employed, and those with a steady income for other sources. If you’re paid regularly through direct deposit, we will certainly review your application.

No Collateral Required

When you’re shopping for fast Canadian online installment loans you may discover many lenders want some sort of guarantee that you will repay your loan. Usually this means you need to put your vehicle or home up as collateral.

Clearly, there are problems with this requirement. First, many people don’t have these assets. Second, even they do own a car or a home, they may not want a lien against them.

Of course, this doesn’t mean they’re irresponsible and plan on skipping out on their loan. After all, that would seriously impact their credit for 6 years.

Fortunately, FlexMoney totally understands why you might not want to risk a valuable asset just to get a loan. Fast Canadian online loans through FlexMoney do not require collateral. They’re based on your income.

Broader Financial Review

Most fast Canadian online loans have a minimum credit score requirement. If you don’t meet this standard, they’ll turn you down.

Others refuse applicants a loan when they have one small problem on their credit report. For instance, one late payment could be enough for them to say “no”.

Luckily, FlexMoney utilizes an artificial intelligence assessment. This assessment looks at many factors, not just your credit. In fact, we do not have a minimum credit score requirement and our criteria are less stringent than many lenders.

We’re a Licensed Lender

FlexMoney is a licensed lender in Ontario, British Columbia, Alberta, Nova Scotia, Saskatchewan, Newfoundland & Labrador, Prince Edward Island, and Yukon Territory. This is important, because we’re bound by consumer standards and lending practices in your province.

Unfortunately, unlicensed lenders do exist. If you use one, you could become involved in a scam, put your personal information at risk, or deal with illegal behaviours.

No Hidden Fees or Penalties

Many lenders make it seem that their ridiculous fees and penalties are normal in the industry. For instance, many charge an origination fee of between 0.5 and 8.0 percent of your loan amount. This is levied just to set up your account. Others charge prepayment penalties if you want to pay extra or pay off your loan early.

Luckily, FlexMoney welcome extra payments at any time and we don’t charge an origination fee. We believe this is an administrative cost that should be born by our company.

Basic Qualification Requirements

As mentioned, many lenders have very strict requirements you must fulfill before they’ll consider your application. This may include a lengthy, detailed application form and written proof of income.

However, those aren’t the only issues that can make some “fast” Canadian online loans less appealing. Some lenders also have very strict stability requirements. They consider someone who stays at the same job, home, and bank more reliable than those that don’t. Of course, that isn’t always the case.

Canadians are more mobile than they were in the past. You might move into a better home, accept a better job, or switch banks for greater convenience. FlexMoney doesn’t think you should be penalized for that.

Our qualification requirements are straightforward and simple. Unlike others lenders, we provide them upfront. Here’s what we need from you before you apply:

  • Earn a net income of $2,000, or more, each month, and have earned this for at least the last three months from the same source (excluding income earned through Employment Insurance, the Disability Tax Credit, and COVID-19 benefits).
  • Have an open and active Canadian financial institution with at least three months of transactions
  • Canadian citizen who is at least 20 years of age
  • Have a valid email address and mobile phone number
  • Not involved in an active bankruptcy, consumer proposal, or credit counselling program.

Quick Review Process

Naturally, fast Canadian online loans should offer a quick response. No one wants to be sitting around for hours or days waiting to hear from a lender.

Fortunately, FlexMoney’s fully-automated system offer a decision within minutes. If you’re pre-approved, you’ll see the interest rate offered and the loan terms at this time.

If you decide you don’t want to move forward – no problem. There’s no obligation for pre-approval and no impact on your credit score.

Our Fast Canadian Online Loans Get Money to You Quickly

If you like what you see, you can sign your loan contract digitally. Signing during business hours normally means your installment loan funds will be delivered on the same day. However, when you sign outside of business hours, you should get your money the next business day. Either way, you can have the cash you need within 24 hours.

If you need to know precisely when funds will be released, you can contact our customer service. They’ll let you know. We offer a toll-free number, email, and website support through Canadian customer service representatives.

Just to recap, here are some of the benefits of fast Canadian loans through FlexMoney:

  • 15-minute application form
  • Electronic income verification
  • Artificial intelligence assessment – no minimum credit score
  • Soft credit inquiry
  • No-obligation pre-approval process
  • Loans between $500 and $15,000
  • Repayment terms between 6 months and 5 years
  • Weekly, bi-weekly, bi-monthly, and monthly payment choices
  • No origination or prepayment fees
  • Fast decision & funds release
  • Canadian customer service representatives
  • Telephone, email, and online customer service options.

If you want to know more about FlexMoney or you’re ready to start the application process, please visit our website. You can also find an in-depth FAQ page there that answers commonly asked questions.

FlexMoney offers fast Canadian online loans without the hassle. We offer more details on Canadian online personal loans here. Get the money you need now instead of waiting for other lenders.