If you’re among the 56% of Canadians struggling with the current cost of living, you may be looking for options to help you pay the bills. Loans with no credit check are a great option for those struggling with debt and poor credit. You can get the money you need not only to put food on the table but also to grow your bank account and thrive again.
Here, we’re going to tell you the basics of no-credit-check loans and how that can benefit you. Read on to learn how you can apply for these fast loans and begin making smarter financial decisions.
What Are Loans With No Credit Check?
No credit check loans are exactly what they sound like- financial loans that don’t require a credit check pre-approval. They don’t require any hard inquiries into your credit report. Because this information is ignored, your credit score does not impact your ability to get a loan.
Assuming that you meet all other loan requirements, you will be able to access fast cash from lenders. In fact, many people get approval and a deposit within a day or two. They’re a quick way to get some additional financial assistance so that you can pay bills before approaching deadlines, buy groceries, or get gas for your car so that you can get to work.
Who Can Benefit From No Credit Check Loans?
Anyone can use a no-credit-check loan. They’re primarily meant for those who need immediate financial help for necessities. However, others use them to travel, move, or undergo once-in-a-lifetime experiences like concerts or conventions.
These loans are faster, which makes them ideal for those who need immediate funds. You will almost always get them within a day (and sometimes may be able to access the money within an hour or two).
The people who most benefit from these loans are those who have either no credit or bad credit.
Those with no credit simply have not built it yet but will be able to do so over time. This doesn’t help in an immediate crisis situation, so online loans with no credit check are favorable.
Those with bad credit scores often have extreme difficulty accessing loans in Canada, and they’re often the people who need them most. If this describes your situation, working with a lender that doesn’t check your credit score could get you the money to get back on your feet. When your basic needs are met, you’ll have more opportunities and drive to improve your credit for the future.
How Can You Access These Online Loans?
Loans with no credit check usually fall under the umbrella of payday loans. This means that they are fast, have minimal requirements, and are easy to obtain.
In fact, getting a no-credit-check loan in Canada is easier than ever with EasternLoans. All you need to do is:
- Enter your email into our application portal
- Let us know how much cash you like (up to 750 CAD available)
- Inform us of your available pay frequencies (weekly, biweekly, monthly, etc)
- Estimate the payment amount you can give back at those frequencies
- Wait for us to pair you with a lender (usually only takes about an hour)
- Access your cash once it’s directly deposited into your Canadian bank account
This loan approval process isn’t just awesome because it’s simple. It also is great because you can get loans in a shorter timeframe than you would from traditional vendors. You’ll get a lump-sum payment after you’re approved and can repay it in the pre-determined flexible timeframe.
Are There Any Eligibility Requirements?
There are some eligibility requirements when you work with EasternLoans. However, they are pretty basic. This means that the parameters for applying are much broader than traditional loans offer.
The main requirements include:
- Canadian citizenship
- An age of 18 or older
- A Canadian bank account (that has been active for 3+ months)
- Direct deposit capabilities (to access your lump-sum payment)
- 3+ months of stable employment with a monthly salary of 1200 CAD+
- Minimal transactions declined due to “insufficient funds”
- Have no other payday/short-term loans active
- Have a low short-term debt ratio
Unfortunately, certain income sources that serve as traditional employment alternatives do not qualify for loans, either. This includes self-employment income, student loans, and all forms of government/social assistance.
These requirements may seem strict, but they are extremely loose compared to other loan types across Canada. Even when compared to other payday loans, you will find that we have very few restrictions and limitations.
Are These Loans Secure?
Since loan applications require a lot of personal and financial information, it’s only natural to wonder about security. Luckily, the process for applying with EasternLoans is 100% secure.
You need to answer security questions every time you call us to access your file. You can also rest assured that we keep all information confidential. Unlike sketchier sources, we will never sell or give away your information.
We also offer top-notch customer service to answer any questions that you may have along the way. This makes it easy to check up on your account, its security, and your access.
Apply for the Top Online Loans in Canada
While finding funding with no or bad credit can be a challenge, you can easily access loans with no credit check. Now that you know how to do this with EasternLoans, it’s time to get started.
Our experts are committed to helping Canadian citizens get back on their feet with easily accessible online loans. Apply for a loan today with our 5-minute form to get a direct deposit to your bank account ASAP.