1What is a Job Confirmation?
A verbal confidential job confirmation is the way that we ensure that our clients are still employed. We simply call your employers to verbally confirm if you are currently working for them, your hiring date and how long they plan on keeping you employed. Also please note that these phone calls are confidential; meaning our analysts never divulge to your employers that you are applying for a loan.
2Do you accept cloud service links to receive my documents?
No we do not. We accept screenshots, scans, and pictures of your documents with your smart phone but we cannot open links from web host providers like One Drive, Google Drive, Dropbox, iCloud, etc.…
3Do I need a phone to be approved?
Yes. The phone number(s) you have provided on your application must be active and under your name.
4Can i borrow with a credit check ?
We offer the possibility to borrow from us without the need of a surety if you agree to submit yourself to a credit check. Be advised that there will be a hard hit on your credit when we send the demand. Your credit score needs to be 700 or higher to be approved for a loan using this method. If your credit score is below that threshold, we will refuse to lend you any amount. You will no longer be eligible to borrow with a surety. So if you want the money but do not know your credit score, it may not be a good idea to ask for this credit check. If you are approved, we will still ask the usual information to complete your file and may refuse to lend you money if you do not meet the required criteria for example if you do not have a regular job. Please ask one of our employees for a credit check if you wish to take that path.
5Will I be eligible for a loan if I’m self-employed?
Unfortunately, no. You must be paid by direct deposit on regular time periods to be considered for the loan.
6What requirements must I fulfill to be eligible for a loan?
To be eligible for the loan, you must meet the following criteria:
Be 18 years or older.
Have a monthly income over $1200 that you receive by direct deposit or cheques from your employer.
Have a stable job or source of revenues with a minimum of 3 months or more of prior service.
Be a Canadian citizen.
Have a Canadian bank account active since a minimum of 3 month in which you get paid by direct deposit.
Not be on the brink of declaring bankruptcy or entering into a consumer proposal.
Have few or no non-sufficient funds transactions.
Have a low short term debt ratio (other active short term or loans).
We apologize in advance but we DO NOT accept the following as valid income sources:
- Social assistance
- Student loan
- Child tax
- Private pension
- Disability income
- Other insurance income.
7Why would my application be refused?
Refusal of your loan application may occur due to one or more of the following reasons:
- An un-discharged bankruptcy is present on your file
- You do not have a stable employment
- You did not provide all required information in your documents or you provided incorrect information when filling out the forms.
- There are too many insufficient funds or other similar charges in your bank account.