According to a recent survey, about 25% of Canadians have taken out loans over the last couple of years to cover the costs associated with inflation. And that number could increase over the next year or two if inflation continues to impact the country.
Do you believe you could benefit from getting a loan right now? If so, a loan provider like Thunderloan can help you get a loan fast.
Before taking out a loan, though, you need the right loan provider in your corner. Working with the right lender will ensure you can access different types of loans and guarantee a great overall experience.
Would you like to know how to find the best loan provider possible? This guide will help you choose the right option.
Start by Listing Your Loan Provider Options
When you’re first in the market for a loan provider, you should sneak a peek at how many options you’ll have. Google something like “loan providers near me” and create a list of every option you can find.
Far too often, people make the mistake of calling on the first lender they can locate to help them get a loan. But unless you get extremely lucky, this might not end up being the best loan provider of the bunch.
You’ll want to investigate different loan providers further to see what they can each bring to the table.
Research Different Loan Providers
Once you have a list of loan providers put together, visit each of their websites so that you’re able to discover more about them. Every loan provider should have an “About Us” page (or something similar) that outlines their history.
Ideally, you want to get a loan through a lender that has been involved in the lending business for years now. You also want to try getting a loan through a lender that has a wonderful reputation within your province.
Find Out Which Lenders Offer the Right Types of Loans
While you’re doing your homework on the different loan providers that are out there, you should pay close attention to which types of loans they offer. Not every lender is going to be able to help you get the same kinds of loans.
Here are some of the types of loans you’ll want to be able to get through the loan provider you choose:
- Short term loans
- No credit check loans
- E-transfer loans
You’ll also want to look high and low for a loan provider that can set you up with fast loans in Canada. It’ll enable you to get your hands on cash as quickly as possible.
Look at the Loan Requirements Lenders Have in Place
Many loan providers have stopped running credit checks on those who apply for different types of loans through them. But some of them are still going to have loan requirements in place.
Take Thunderloan, for example. When you visit thunderloan.ca, you’ll find that you’ll need to meet certain requirements to qualify for a loan. Here are just a few of them:
- Must be at least 18
- Must be a Canadian citizen
- Must live in Ontario, Prince Edward Island, British Columbia, Alberta, Manitoba, Saskatchewan, Nova Scotia, New Brunswick, or Newfoundland
- Must have a Canadian bank account that has been active for 3 months
- Must make at least $1,200 per month and get paid through direct deposit
- Must not have excessive short-term loans already
In theory, you might think that requirements like this would be restrictive. But they’ll take the place of credit checks that might otherwise disqualify you from getting a loan.
When you look at these requirements like this, you’ll be more than happy to check a few boxes to avoid having to go through a credit check.
See What Applying for a Loan Is Like Through Different Lenders
Applying for a loan through some lenders can be a huge hassle. You’ll have to spend hours gathering information and putting it all together so that you can send it to a loan provider.
In a perfect world, you want to steer clear of working with a loan provider like this. Instead, you should look for lenders like Thunderloan that’ll make it possible for you to apply for a loan in just 5 minutes.
Head here to see how simple Thunderloan makes it to get a loan fast.
Learn How Fast Lenders Can Provide Loans
If you need to borrow $500, $750, or even $1,000 from a loan provider, there’s a pretty good chance you’ll need to get your hands on it fast. But not all loan providers will be prepared to provide you with loans within a matter of just days.
If possible, you’ll want to work with a loan provider like Thunderloan that can set you up with E-transfer loans. They’ll be able to put a loan like this right into your bank account so that you’re able to get it as fast as you can.
Ask How Fast Lenders Will Expect to Be Repaid
Once you get a loan, you can use the money you borrowed for whatever you want. But you will need to work on repaying a loan provider in the months to come.
Every loan provider will take a slightly different approach to this. Some lenders will give you more time than others to repay them.
You should give some thought to how long you’ll need to pay back a lender and find one that’s willing to work with your repayment schedule.
Let Thunderloan Help You Get a Loan Quickly
There won’t be any shortage of loan providers for those interested in obtaining fast loans in Canada. But try not to get stuck with a loan provider that isn’t going to provide you with the right types of loans and the right interest rates attached to them.
Thunderloan is always here to help those who need a loan fast. We can set you up with $500 to $1,000 in the blink of an eye and put you in the position to repay this loan just as quickly.
Reach out to us now to learn more about how our loans work.