How to apply for a loan?
To apply for a loan, a potential borrower should provide the lender with initially correct and complete information about his or her financial background. Following thе steps indicated on the website guarantees that the request will be proceeded without any delays or additional queries from the service agents and automatically increases the chances for a loan candidate to have the application approved and get appropriately funded. Generally, there should be submitted several documents with the following information:
Proof of income (can be a bank statement)
Pre-authorized debit form or void cheque (can be replaced with bank statement)
One government-issued photo ID
Application details
ConsumerCapital Canada’s application form is fast and easy to complete. It can be completed on the computer or the mobile in as little as 5 minutes.
The company’s policy is about providing its customers with the best loan options possible. That is why all the loans are being approved by human credit analysts who take the time to understand the financial health of the potential borrower.
ConsumerCapital Canada aims to be maximally effective and friendly to its customers. Therefore, it is putting all the efforts not to make the potential borrowers wait for the answer for too long. The maximum waiting time to get the answer is one business day.
When requesting a loan (аfter clicking the “Apply now” field), the potential borrower will be asked to provide the service with the following information:
Amount to borrow
Purpose of loan
First name
Last name
E-mail address
Phone number
Date of birth
SIN (optional)
On the next page, the customer should fill out his employment details, including their gross income, income frequency (weekly, fortnightly, monthly, or annually), employment status, occupation, his employer’s name, his employer’s phone number, his employer’s city and province, and his years of service.
On the other side of the page, the customer has to complete the details about his address, years of living at this residence, whether they own or rent this property and his monthly housing payments.
After clicking the “Continue” button, it is possible to submit the application.
Reasons for rejection
Unfortunately, there is a list of cases when the initial request for getting a loan can not be confirmed:
The potential borrower is in debt management/counseling, bankruptcy, or consumer proposal.
The potential borrower resides in Quebec, Northwest Territories, Yukon, or Nunavut.
The potential borrower’s minimum monthly income is less than the required $1,600-1,900 gross.
The potential borrower has provided the lender with the financial background information, containing certain discrepancies with the verification information provided by the borrower's bank.
