What is a loan connection website?
Loan connection websites automate the search for a lender, connecting a loan application with a particular lender based on the application details. OntarioCASH automates the search for online lenders in Ontario, processing your application in seconds.
What interest rates should I expect?
Interest rates vary from lender to lender. Most of our partners offer APRs between 29.99% and 49.96%.
How does a loan connection website work?
A loan connection website assesses a loan application very quickly based on certain criteria. Then the application is linked up with a particular lender, and the applicant is redirected to the lender’s website to complete the process of obtaining the loan.
How do I apply?
The application process takes place entirely online. Just submit a quick online application here and get an immediate response.
What are the minimum requirements to apply?
- You must be at least 18 years of age.
- You must be a Canadian citizen or permanent resident.
- You must have a permanent address.
- You must provide proof of consistent income.
- You must have a valid Canadian bank account that has been active for at least 90 days.
What happens after I apply?
You will get redirected to the lender’s website to complete the loan application process.
Will you check my credit score when I apply?
We don’t check your credit score or credit report during the simple online application process.
Will applying affect my credit score?
Your credit score will not be affected.
How do I get my money?
You will receive the money via direct deposit or e-transfer.
If I don’t know my credit score, can I still apply?
Yes, you can still apply even if you don’t know your credit score.
If I have a low credit score, can I still apply?
Yes, you can still apply. We don’t check your credit score during the online application process.
I’m a recent immigrant. Can I still apply?
Immigrants can apply, so long as they are either Canadian citizens or permanent residents.
I’ve been rejected by a bank. What can I do?
Online lenders can present an attractive alternative to traditional financial institutions.
What types of loans do the lenders offer?
Our partners usually offer personal loans, also known as installment loans, which may come with lower interest rates and longer repayment periods. However, you may get connected with either installment lenders or payday lenders, based on your application details.
Can I apply and not take the loan?
Yes, you can.
I have a history of bankruptcy or consumer proposal. Can I still apply?
While a bankruptcy or a consumer proposal may make it harder to get approved, it is not an automatic disqualification.
Can I apply with the lenders directly?
You can, although a loan application website will connect you with a lender based on your unique application details and one who is most likely to fund the loan.
What documents do I need to apply?
You don’t need to upload any documents during the online application process at OntarioCASH.
Do lenders accept customers on government benefits?
Yes, lenders take on customers on government benefits, as long as they have a source of consistent income.
When can I apply for a loan again?
As soon as your previous loan is repaid in full.
Is my personal information secure?
OntarioCASH uses top-notch encryption technology to ensure the safety and security of your personal information.
Do some of the lenders charge loan origination fees?
This will depend on the lender. Some lenders will charge loan origination fees.
What repayment terms should I expect?
The repayment terms will depend on the lender and on their assessment of your application.
How do I make repayment on the loan?
Typically, you can set up pre-authorized debit payments or make an e-transfer.
Can I use Interac e-Transfer® to make my payment?
Depending on the lender, you can use either pre-authorized debit or Interac e-Transfer® to make your repayment.
