Personal Loans
How it works:
How does the loan work?
We provide unsecured personal loans to Canadians. Our application is quick, easy to fill out and every step of our process can be done online. Our loans range from $500 to $35,000, with terms from 6 to 84 months. Once you are approved, then you can sign the loan documents right away. You can use the funds for whatever you want. All of our loans are open which means you can pay them back at any time with no extra fees or penalties. We’ve helped thousands of people in many types of credit situations, and we hope that we can help you too. Our aim is to get as many people approved as possible!
When will I know if I am approved or not?
It doesn’t take long to get an approval. Once you apply, please keep an eye on your phone as one of our associates will be in touch with you to review your application.
How long does the process take?
The application and approval can be completed in one phone call with one of our associates. Once you are approved, you can sign the loan documents right away. Almost all funds are received within 1-2 business days. To speed up the process, please complete the online application and submit all of the requested documents.
How do I get the funds?
Funds can be deposited same day via e-transfer or within 2-3 days via EFT.
Does Spring Financial report to a credit bureau?
Yes, we report your payments to both TransUnion and Equifax. To learn more about the credit bureaus, please visit:
Equifax: www.equifax.ca
TransUnion: www.transunion.ca
Do personal loans affect my credit?
Yes, making payments on time can help improve your credit profile’s payment history.
How do I contact Spring Financial?
For any questions about the loan, payout amounts, or general inquiries, please chat with an agent here.
Is Spring Financial legit?
Yes, we are! Since 2016, Spring Financial has helped hundreds of thousands of Canadians build and access credit. Check out some of our testimonials here.
Where do I find details about my insurance products?
Spring Financial offers Payment Protection Insurance products that are underwritten by Trans Global Insurance Company or Assurant. For more information about the terms and conditions including limitations and exclusions, the claims handling process, the complaint handling protocol and Frequently Asked Questions, please visit the respective websites below:
Trans Global Insurance: https://transglobalinsurance.ca/distributors/springfinancial/
Assurant: https://cardbenefits.assurant.com/en/creditorhelp
Requirements:
What do I need to qualify?
To apply with us, you have to be the age of majority in your province, have a valid ID, and have some form of income. We do our best to get everyone approved. Once you apply, one of our associates will review your file and connect with you to complete your application and collect the necessary documents.
Does my credit score matter?
Your credit file is one of the many pieces of your application that will be used to determine your approval. Spring Financial specializes in helping Canadians in many credit standings get access to credit. Please apply now to see what you qualify for and we will do our best to work with you.
Why do you need my bank statement?
Bank statements are required as part of our underwriting process: they are used to clarify income and provide the account information for the funds to be deposited into.
Statements can be submitted using our secure online bank verification tool which is supported by many financial companies. With this tool, your statements will be automatically submitted to us along with your account and transit number, so we can deposit funds directly into your account. Please note that using our verification tool gives us read-only information and we will have no access to your bank account.
Will a consumer proposal or bankruptcy affect my offer?
We do have options for people who are currently in bankruptcy or consumer proposal as well as for people who have recently been discharged from bankruptcy or consumer proposal. Please apply now and we will review your file to determine what you’re eligible for.
Why do I need to provide a reference when the bank/other financial institution does not ask for them?
Spring Financial specializes in getting as many approvals as possible, and we will often get you an approval when banks and other financial institutions will not. References are one of the key factors that enable us to do that. In most instances, references are not called for the approval process and are just kept on your file.
What information is disclosed to references?
For some of our applications, we will require personal references and employment verification. We won’t be calling your personal references for the application process (they will simply be kept on your file).
For employment verification, we call your place of work to confirm that you do work for the company. The person that confirms your employment will not know what you are applying for, and none of your application details will be disclosed.
Personal Loan details:
How much am I qualified for?
Our loans range from $500 to $35,000. The amount you qualify for will depend on a number of factors such as your credit history, current income, and current debt load. To determine the exact amount and interest rate you qualify for, please apply now and one of our associates will contact you.
What is the interest rate?
The interest rate you qualify for will depend on a number of factors such as your credit history, current income, and current debt load. To determine the interest rate you qualify for, please apply now and one of our associates will contact you.
How much will payments be?
Payments start as low as about $37 bi-weekly and vary based on a number of factors such as loan size, interest rate, term, and optional products. Please apply now to see what payment size you qualify for.
Need more information?
You Deserve Better
Apply in just 3 minutes and get $500–$35,000 e-Transferred as soon as today.