Lender
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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.

Apply For FlexMoney

Advertiser Disclosure

FlexMoney offers a diverse range of flexible loan options tailored to meet the diverse financial needs of Canadian borrowers. With loan amounts ranging from $500 to $15,000 and repayment terms spanning from 6 to 60 months, FlexMoney provides borrowers with the flexibility to choose a loan solution that aligns with their specific circumstances and budgetary requirements. The application process is swift and streamlined, with most applicants receiving a decision within about 10 minutes, ensuring quick access to funds when needed. Additionally, FlexMoney prioritizes transparency and fairness, providing borrowers with clear and understandable terms and conditions, including interest rates and repayment schedules.

How to apply for a FlexMoney loan

  1. Visit the FlexMoney Website. Using your preferred web browser, navigate to the FlexMoney website.

  2. Access the Loan Application Page. Once on the FlexMoney homepage, locate and click on the "Apply Now" button. This will typically be prominently displayed on the homepage or in the main navigation menu.

  3. Complete the Online Application Form. You'll be directed to the online loan application form where you'll need to provide personal and financial information. This may include your full name, email address, mobile phone number, date of birth, residential address, employment status, income details, and banking information. Ensure all information provided is accurate and up-to-date.

  4. Review and Submit Your Application. After completing the application form, carefully review all the information you've entered to ensure its accuracy. Once you're satisfied, submit your application by clicking the "Submit" or "Apply Now" button.

  5. Await Approval Decision. FlexMoney will review the information provided in your application and decide on your loan request. In most cases, applicants receive a decision within about 10 minutes.

  6. Sign Loan Agreement. If your loan application is approved, FlexMoney will provide you with a loan agreement to review and sign electronically. Read the terms and conditions  carefully before signing.

  7. Receive Funds. Once your loan agreement is signed, FlexMoney will transfer the approved funds directly into your designated bank account. Depending on your financial institution, funds may be available within one business day.

Conditions

  • Loan Amounts. Borrowers can apply for loan amounts ranging from $500 to $15,000, depending on their eligibility and financial circumstances.
  • Repayment Terms. FlexMoney provides flexible repayment terms, allowing borrowers to choose from repayment periods ranging from 6 to 60 months. This enables borrowers to select a repayment schedule that aligns with their budget and financial goals.
  • Interest Rates. The interest rates offered by FlexMoney vary depending on factors such as creditworthiness, loan amount, and repayment term. Rates typically start at 18.9% APR, but borrowers will receive a specific rate based on their application and credit profile.
  • Fees. FlexMoney does not charge any hidden fees for its loan products. However, borrowers should review the loan agreement carefully to understand any applicable origination or administrative fees.

Requirements

  • Income. Borrowers must have a minimum monthly income of $2,000 for the past three months. Acceptable income sources include employment income, self-employed income, Canadian Pension Program (CPP), Old Age Security (OAS), and private pensions.
  • Age. Borrowers must be at least 20 years old to qualify for a FlexMoney loan. Age verification may be required during the application process.
  • Canadian Citizenship. FlexMoney loans are available exclusively to Canadian citizens. Borrowers must provide proof of Canadian citizenship, such as a valid Canadian ID or passport.
  • Banking Information. Borrowers must have an active bank account with a Canadian financial institution, including a valid branch number, institution number, and account number. This is where loan funds will be deposited and repayments withdrawn.
  • Credit Check. FlexMoney conducts a credit check as part of the application process to assess the borrower's creditworthiness and determine loan eligibility. While all credit levels are considered, borrowers with fair or good credit scores are more likely to qualify for lower interest rates.

Reasons for rejection

  • Insufficient Income. FlexMoney requires applicants to have a minimum monthly income of $2,000 for the past three months. If an applicant's income does not meet this requirement, their application may be rejected.
  • Poor Credit History. While FlexMoney considers applicants with all credit levels, including those with less-than-perfect credit, a history of significant financial delinquencies or defaults may result in rejection.
  • Incomplete or Inaccurate Information. Providing incomplete or inaccurate information on the loan application can lead to rejection. Applicants need to ensure that all information provided is truthful and up-to-date.
  • Employment Status. FlexMoney typically requires applicants to have a stable source of income, such as employment income, self-employed income, or pension benefits. Applicants who are unemployed or do not have a consistent income source may be rejected.
  • Failure to Meet Age Requirements. Applicants must be at least 20 years old to qualify for a FlexMoney loan. If an applicant does not meet the minimum age requirement, their application will be rejected.

Additional resources

Sources

FAQ

How long does it take to get approved by FlexMoney?

FlexMoney prides itself on offering a swift and efficient loan approval process. In many cases, applicants receive a decision on their loan application within about 10 minutes. This rapid turnaround time is made possible by FlexMoney's highly automated approval system, which reviews applications quickly and accurately. However, the exact time it takes to get approved may vary depending on factors such as the completeness of the application, the accuracy of the information provided, and the volume of applications being processed at the time.

How quickly funds can be received?

Once a loan application is approved by FlexMoney, borrowers can typically expect to receive their funds quickly. In most cases, approved funds are transferred directly into the borrower's designated bank account within one business day. However, the exact timing of fund disbursement may depend on factors such as the borrower's financial institution and the time of day the loan is approved. FlexMoney uses industry-leading tools and technology to facilitate fast and secure fund transfers, ensuring that borrowers have access to the funds they need as soon as possible.

How trustworthy is FlexMoney?

FlexMoney is a reputable and trustworthy lending institution with a strong track record of providing transparent and reliable financial services to Canadians. As a licensed lender based in Toronto, Ontario, FlexMoney operates in accordance with regulatory guidelines and industry best practices to ensure the safety and security of its customers' personal and financial information. Additionally, FlexMoney has garnered positive reviews and testimonials from satisfied borrowers, further underscoring its reputation for trustworthiness and integrity in the lending industry. With a commitment to transparency, fairness, and customer satisfaction, FlexMoney strives to uphold the highest standards of trust and reliability in all its interactions with borrowers.

Does FlexMoney verify income?

Yes, FlexMoney verifies income as part of its loan application process. To ensure responsible lending practices and assess an applicant's ability to repay the loan, FlexMoney requires applicants to provide information about their income sources during the application process. This may include employment income, self-employed income, pension benefits, or other sources of regular income. FlexMoney may use various methods to verify income, such as requesting recent pay stubs, bank statements, or contacting employers directly.

Does FlexMoney hurt your credit score?

FlexMoney conducts a credit check as part of the loan application process, which may have a minor impact on your credit score. When you submit a loan application to FlexMoney, the company may perform what is known as a "hard inquiry" on your credit report. While hard inquiries typically have a small and temporary negative effect on your credit score, they are a normal part of the lending process and are necessary for lenders to assess your creditworthiness accurately. 

However, the impact of a hard inquiry on your credit score is usually minimal and may vary depending on factors such as your overall credit history and the number of recent inquiries. Making timely loan payments to FlexMoney can have a positive impact on your credit score over time, as it demonstrates responsible borrowing behavior.

Financial products
FlexMoney
Personal loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$500-$15,000
Rate
i

Effective interest rate on the product

from 18.9%
Term
i

Loan term for the financial product

up to 60 months
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Rating by Finanso®
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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.

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