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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

BC Loans's application


How to apply


What do you need to apply for a loan? This is a very important question to get your application correct and complete.

If you use the paperless application form, no other documents will be required from you, otherwise, you must submit the documents listed below:

2 signed contracts;

Photocopy of your official document ID (driver's license, health card);

Proof of residence dated within the last 30 days at the latest: phone bill, the electric bill, T4, or other official bill confirming your residence;

Last pay stub;

Bank statement for the most recent 30-day period. If you are a first time customer, you must provide us with bank statements for the last 90 days;

Pre-authorized debit form (PAD) or void check.

Application details

According to available information business hours of customer service are the following:

Eastern: Monday to Thursday 8:30 am - 8:30 pm, Friday 8:30 am - 7:30 pm;

Pacific: Monday to Thursday 5:30 am - 5:30 pm, Friday 5:30 am - 4:30 pm;

Once you click on the Apply button, a short application form will be displayed. All fields are mandatory. If you omit any of the fields, the system will not let you proceed to the next step. If you have left a field blank or entered incorrect data (for example, an incorrect zip code or missed the @ symbol in your email address), that field or field will be highlighted in red. Once no more errors are detected, you can proceed to the second step. You will need to agree with your digital signature and sign the agreement. step 3 you choose the verification method: paperless or filing copies of the documents.


Reasons for rejection

The company has a high percentage of approvals, but there are some cases where applications are rejected. This happens for one or more of the reasons listed below:

  • the client has an undischarged bankruptcy case;

  • the applicant does not have permanent employment;

  • the submitted documents are incomplete or the information is incorrect;

  • too many charges for insufficient funds accumulated in your account;

  • problems with a steady job or source of income less than 3 months of service.

BC-Loans stresses that it does not accept the following as a source of income:

  • retirement income (e.g. Canada Pension Plan)

  • disability income

  • insurance income

  • social assistance

  • employment Insurance (accepted for renewal only)

  • student loan

  • child tax

  • self-employment

How long does it take to get approved by BC-Loans?

Applications are considered within one business day. The money is transferred to your account on the same day of approval.

How trustworthy is BC-Loans?

The lender is an officially incorporated organization registered under Canadian law and has been operating in the market for almost 10 years. Moreover, all loans are granted after signing a bilateral agreement between BC-Loans and the borrower.

Does BC-Loans verify income?

Yes, the lender verifies that the income is stable and sufficient and meets the criteria for the loan. When you apply for a loan with BC-Loans, you permit to verify the information provided.

Does BC-Loans hurt your credit score?

The lender itself will not hurt your credit score, but if you have payment discipline problems and your debt load goes up, your score will be affected. You must keep in mind that your credit history is added to each new loan.

Financial products

BC Loans
Personal loan
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

500$ - 750$

Effective interest rate on the product

23% - 34.4%

Loan term for the financial product

up to 3 months

Calculate loan payments in BC Loans

BC Loans calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

500 $
750 $
Loan term

Specify the loan term for the calculation


What to pay attention to when applying for a loan from BC Loans

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes BC Loans from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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