How to apply?

The following are the stages involved in taking out a Fairstone personal loan:

1. Get a loan quote. The Fairstone website provides applicants with a free online loan quote based on their credit score, employment status, and property ownership.

2. Receive an instant response. It takes no more than a few minutes to receive a quotation. If you're satisfied with your quote, a Fairstone Lending Specialist will contact you to discuss the details.

3. Get your documents. Collect the set documents to confirm your identity, income, and housing situation. To finalize your loan agreement, you'll need to bring these papers in person to your local branch. In certain locations, you may be able to finish this step over the Internet.

4. Visit the local Fairstone branch. After all, paperwork has been submitted, you can meet with a Lending Specialist to finalize the loan application process. The specialist will go over the terms of repayment, as well as the payment procedure.

5. Get your money. You could get funds the same day you apply if the loan is approved.

6. Financing can be obtained via cash, credit card, Interac e-Transfer.

Requirements

Personal identification

Provide one piece of primary identification:

• Valid Canadian Driver's Licence

• Canadian Permanent Resident Card

• Valid Canadian Passport

• Canadian Citizenship Card

• Valid Non-Driver Identification Card, where applicable

Or, provide two pieces of secondary identification:

• Government-issued Canadian birth certificate

• Certificate of Indian Status Identity Card/Indian and Northern Affairs Canada Card

• Current Credit Card or Debit Card with an embedded photo

• Military ID Card with accompanying government-issued photograph

• Current bank statement

• Utility bill from the last 30 days containing your full name and current street address

• Notice of Assessment

• Provincial Health Card

Employment and income verification

Applicants need to provide their recent pay stub that is:

• Dated within 30 days or future-dated no more than seven days

• Shows year-to-date income

• Shows CPP and EI deductions

• Shows the company name and logo

• Latest T4/T4a

• Canada Pension Plan (CPP) statement dated within the last 12 months

Self-employed individuals need to provide CRA Notice of Assessments from the past two years and one of the following:

• Business Licence

• 411 or Yellow Page Listing

• Bank statement showing business name

Housing information

To verify rent, applicants should provide one of the following:

• Current lease agreement (within five years)

Any of the following dated within three months:

• Rent receipt

• Canceled cheque

• Bank statement or electronic fund transfer

• Typed or hand-written letter showing rent amount and landlord's signature

To verify mortgage, it is necessary to provide one of the following:

The latest mortgage statement which includes:

• Current balance

• Monthly payment

• Payment status

• Your name and address

• Annual mortgage statement dated within 30 days