With The Lenders, we offer loans up to $1500 with no credit checks and no paperwork needed to complete an application. All you need is 15 minutes!
We want to help. That's why there's no paperwork, delays or credit checks to apply for a loan at The Lenders.
Our loans are minimum of 90 days and a maximum of 180 days. Lending companies partnering with us offer an approximate annual interest rate of 32% APR. If unpaid, the applicable interest rate is 2,66% per month (32% per year). A $500 loan payable every two weeks and refundable in 6 payments will be $141.97 per payment for a total amount of $847.38 and the interest of $58.54. This information is given as an example and considers the brokerage fees added to the borrowed capital. Renewing your loan does not happen automatically, you need to request it. There is a 55$ service charge for insufficient funds. In case of non-payment, a collections agency will call you. A service charge is applicable if your loan is accepted.
Collection and Credit Score
Our company is in compliance with Canadian laws, regulations and legal standards. If a particular situation arises during your repayment period, our collection department will establish a repayment agreement with you based on your situation. Should the debtor default on one of any repayments under this contract, the creditor can demand full payment of any outstanding balance, capital, interest, and costs. All judicial and extrajudicial costs that could be reasonably incurred by the creditor as a result of defects in a contract by the debtor, will be claimed and returned to the creditor from the debtor. In the event that no payment agreement is possible between the debtor and the creditor, the creditor may assign the file to a collection agency, which may affect the debtor’s credit rating/score.