Best personal loan lender: A LoanConnect Review
Are you looking for the best personal loan lender in Canada? Do you want immediate cash with a poor credit score? If yes, then you are not alone. We demand to serve multiple interests, even if the income is limited. In these situations, we take loans to meet emergency needs. However, sometimes, poor credit becomes the hurdle to qualify for a loan. Many of us are familiar with these conditions, right? Here, LoanConnect comes to your rescue. Imperatively, anybody going through a difficult phase and want an immediate solution to handle the financial crisis need to use their service. LoanConnect provides different types of loans to meet the diverse needs of the Canadian people.
Are you interested in knowing more about LoanConnect? Are you interested in the types, as well as benefits? Go through the following article to understand what makes the LoanConnect the best personal loan lender. Also, you will be familiar with the types, benefits, loan amounts, and alternatives to find the best solution for you.
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No minimum credit score to apply
Unsecured loans up to $50k
Interest rates as low as 4.6% to 46.96%
Table of Contents
Table of Contents
LoanConnect is a personal loan lender that entered the industry in 2016. Those in Canada who do not find financial help due to bad credit or similar conditions are its target market. Incidentally, it will work as a middle ground between you and the payday money lenders. Thus, it enables you to get a loan regardless of your credit score.
This personal lender is in Toronto. However, its services are accessible across Canada. Consequently, if your credit score is hindering you from obtaining a loan, this lender will find a suitable solution.
LoanConnect serves as a search engine and helps you get a loan in the fastest possible time. In all honesty, it can take as little as five minutes. According to their website, LoanConnect is Canada’s leading online loan search as well as an approved institution. Additionally, they can help you get competitive rates even if your credit score is not satisfactory. You can get a loan up to $50, 000 with the help of LoanConnect.
What Types of Loans Are Available?
When it comes to types, LoanConnect offers different kinds of loans to create a tailored solution for all. The online loan search engine connects you with lenders that provide financial assistance for any of your emergencies. LoanConnect has a resolution for all your expenses. Here are a few types of loans that you can get from them.
- Student loans
- Debt consolidation
- Home renovation
Indeed, you noticed that there’s a loan for any type of situation. Nevertheless, the loan conditions might vary a little depending on the lender. However, LoanConnect will help you provide all the required information so that you can make a well-informed decision.
How to Apply
The process is easy and fast. You can apply online. First, you will have to visit the LoanConnect website. Then, find an “apply now” red button on the site, in the top right corner. Moreover, click on that button, and it will redirect you to the application form page. On that page, there are three different steps related to filling the form. Go through all of them and fill the form with accurate information.
You can click here to apply directly.
Here are step-by-step instructions to make it easier for you.
In step one, enter your personal information that includes your name, phone number, and address. Also, you have to write the loan amount that you want. It is noteworthy that the maximum amount is $50,000. In addition to the above information, you will have to choose the type of loan. After filling all these details, you will have to fill out information about your financial condition.
Step two is related to your current financial status. You need to fill the citizenship status, employment status, housing costs, housing status, credit score, annual income, and other expenses. When you do not know the exact credit score, you will get a tool on that website to estimate the credit score, and then you can fill the form.
In step three, you only need to confirm all the information. Conversely, go through all the details before you approve anything. After re-checking, simply click ‘submit’ to submit your loan application. After you submit your form, LoanConnect will check the data and compare it with the available lenders to find the most appropriate for you. You will get a list of the available lender names within a couple of minutes.
The list will be available in chart form so that you can compare the payments, APR, and eligibility criteria. If you like any of them, you can click on that given link, and it will take you to the lender’s website. On the lender’s website, provide some more details to finalize the application.
After getting the approval, the money will be in your account within a minimum period of twelve hours. Generally, you will get weekly, bi-weekly or monthly payments with agreed interest rates. Lenders will withdraw money directly from your bank account at an agreed scheduled time.
- No minimum credit score
- Multiple types of credit available
- Available Canada-Wide
- Loan amount up to 50000$
- Quick and easy to apply and receive
- Loan connect is not the actual lender but more of a middleman
- Only options available are the ones LoanConnect Partner with
What are the Alternatives to the best personal loan lender?
How does LoanConnect lead the industry? What are the best alternatives? Well, as you know, LoanConnect is not a lender itself. So, you might find it a bit tricky to compare it with other leading names. However, the above data makes it evident that LoanConnect is the best choice for the Canadian people to qualify a loan without any specific requirements, such as a good credit score.
LoanConnect is doing pretty well to satisfy all those who are having financial difficulty. It can offer you instant cash with an easy application process that takes less than five minutes. The money is in your account within twelve hours. However, if you are looking for some alternative, you can try Fairstone Financial or Borrowell. Let’s have a look at these alternatives to know why LoanConnnect is the best personal loan lender, even if it does not serve as a direct lender.
Best personal loan lender. Alternative#1
You can get both unsecured and secured loans from Fairstone Financial to meet your emergency needs. When it comes to the type, you can get debt consolidation and emergency personal loans. The amount will be up to $35,000. For eligibility, you need to be a resident or citizen of Canada with an established credit history. Also, your financial status must indicate that you can make the repayments without any difficulty. If you compare Fairstone Financial with LoanConnect, you will find the latter worth considering since it offers different types of loans without asking for a good credit score. More importantly, you can get the loan up to $50, 000.
In general, it is easier to get a loan with LoanConnect.
Best personal loan lender. Alternative#2
Borrowell is also one of the most popular choices for the Canadian people. However, you will need a good credit score to qualify for this loan. The first credit criteria is one of the critical differences between LoanConnect and other lenders. LoanConnect can offer you the best financing solutions when you find all the doors closed and that you cannot expect either from Borrowell or Fairstone Financial. Both these will ask for a good credit score to consider your application. Also, the loan amount is more with LoanConnect. To qualify for the Borrowell loan, you will need 660 or above credit score. Also, there must not be any consumer proposal or bankruptcy to get this loan. All these things might not go in your favour,r, and that will rule out the possibility to get a loan.
In general, it is easier to get a loan with LoanConnect.
Why is Loanconnect the best personal loan lender in Canada
LoanConnect can be a great choice to start your online loan search. It can be perfect, especially when you want some fast cash to meet your emergency needs with a poor credit score. As it offers various types of loans, you can get the best fit, depending on your unique needs. The loan amount is an added benefit.
LoanConnect acts as the middleman and provides you with the most beneficial borrowing options. Check the interest rate and repayment time every lender offers and select the most suitable one. LoanConnect works for everyone since it does not provide the actual loan. Instead, it tries to find the best opportunity for you by developing partnerships with the leading lenders.
Related article: How to get rid of debts fast (2 foolproof tips).
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Best personal loan lender: A Loan Connect review0.00
- NO MINIMUM CREDIT SCORE NEEDED TO APPLY
- QUICK APPROVAL AND DISBURSEMENT
- THEY HAVE ACCESS TO THE MOST LENDERS IN THEIR INDUSTRY
- ACTS AS A MIDDLEMAN
- THEY ARE NOT OPENED ON WEEKENDS
- YOU ONLY HAVE ACCESS TO THEIR LENDERS