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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.

Loan and Go Review

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About lender

Loan and Go provides an essential microloan service, discreetly offering quick cash to Canadian citizens in need of immediate financial solutions. With Loan and Go, customers can easily apply for an installment loan online of up to $1,250, ensuring that unexpected expenses or small personal finance projects can be handled swiftly. They guarantee quick loans, ensuring that customers can access the funds they need right away, without the hassle of lengthy approval processes or credit checks.

Loan and Go

Features

  • Quick Approval. Get approved for your loan in less than an hour, ensuring that you can access the funds you need without delay.
  • Paperless Process. Enjoy the convenience of paperless loans, eliminating the need to print, sign, or send any documents. Loan and Go streamlines the application process, making it hassle-free for customers.
  • Flexible Repayment Options. Benefit from flexible repayment schedules ranging from 3 to 6 months, allowing you to choose a payment plan that fits your financial situation and budget.
  • Same-Day Bank Deposit. Receive fast cash through same-day bank deposit, ensuring that you can access the funds directly in your bank account quickly and conveniently.

Pros and cons

Pros

Personalized Online Customer Account. Loan and Go provides customers with a personalized online account, allowing for easy access to loan details, repayment schedules, and account management, enhancing convenience and transparency.

Quick Approval. With Loan and Go, customers benefit from quick approval processes, enabling them to obtain the funds they need in a timely manner, addressing urgent financial needs effectively.

Paperless Process. Loan and Go streamlines the loan application process by offering a paperless approach, eliminating the need for printing, signing, or sending documents, thereby saving time and reducing hassle for applicants.

Cons

High Interest Rates. One drawback of Loan and Go is the relatively high interest rates associated with their loans, which may result in higher overall borrowing costs for customers compared to other lending options.

Limited Loan Amount. Loan and Go offers loans of up to $1,250, which may not be sufficient to cover larger financial needs or expenses, limiting the utility of their services for some individuals.

Not a Direct Lender. Despite offering loans directly to customers, Loan and Go is not a direct lender, which means that they may work with third-party lenders, potentially leading to additional fees or complications in the lending process.

Reliability

Loan and Go is a reliable option for individuals seeking quick and convenient financial solutions. They offer payday loans and installment loans online, catering to individuals with various credit backgrounds, including those with bad credit. Their streamlined application process, flexible repayment options, and commitment to providing the highest quality customer care make them a trustworthy choice for Canadians facing unexpected expenses or financial emergencies.

How to apply for a Loan and Go loan

  1. Visit the Loan and Go Website. Open your preferred web browser and navigate to the official website of Loan and Go.

  2. Click on the "Apply Now" Button. Once you're on the Loan and Go website, locate the "Apply Now" button, typically prominently displayed on the homepage. Click on it to initiate the loan application process.

  3. Enter Your Information. You'll be directed to an online application form where you'll need to enter personal and financial details. This includes your name, address, contact information, employment details, income, and desired loan amount.

  4. Submit the Online Application. After filling out all required fields in the application form, review the information you've provided to ensure accuracy and completeness. Once you're satisfied, click on the "Submit" or "Apply" button to send your application to Loan and Go for processing.

  5. Application After 3:30 PM. If you're applying after 3:30 PM local time, Loan and Go may have adjusted procedures. In this case, you might be required to enter only your name and email address. Expect Loan and Go to contact you subsequently for further steps.

  6. Await Approval. Once your application is submitted, Loan and Go will review the information provided and assess your eligibility for a loan. This process typically takes a short amount of time, with many applicants receiving approval within hours.

Conditions

  • Loan Amounts. Loan and Go offers loans with amounts up to $1,250. Borrowers can request a loan within this range based on their financial needs.
  • Annual Percentage Rate (APR). The annual percentage rate (APR) for loans from Loan and Go ranges from a minimum of 29% to a maximum of 32%. Borrowers should consider the APR when assessing the total cost of borrowing.
  • NSF Fee. Loan and Go charges a $50 fee for non-sufficient funds (NSF). Borrowers should ensure that they have sufficient funds in their bank account to cover loan repayments to avoid this fee.
  • Loan Terms. Loan terms offered by Loan and Go typically range from 3 to 6 months. Borrowers can select a repayment period within this range that best suits their financial situation and ability to repay the loan.

Requirements

  • Age Requirement. Applicants must be 18 years of age or older to qualify for a loan.
  • Residency. Applicants must reside in Ontario, Canada, to be eligible for a loan from Loan and Go.
  • Canadian Bank Account. Applicants must have a Canadian bank account in their name to facilitate loan transactions.
  • Employment. Applicants must be currently employed and have had the same employer for at least 3 months. Stable employment history is a requirement for loan eligibility.
  • Bankruptcy Status. Applicants must not be in the process of bankruptcy. Individuals currently undergoing bankruptcy proceedings are not eligible for loans from Loan and Go.

Ways to receive the money

Upon approval of your loan application with Loan and Go, you will receive the borrowed amount through direct deposit into your bank account. Typically, the funds will be deposited before midnight on the same day of approval. However, it's important to note that in some cases, it may take between 24 and 48 working hours to receive the deposit in your bank account. This delay can occur due to the processing time required by your bank. Rest assured that Loan and Go strives to ensure swift and efficient transfer of funds, but the exact timing of the deposit may vary based on individual bank policies and processing times.

Products

Loan and Go specializes in providing short-term loans of up to $1,250 with no credit check. These loans offer a convenient solution for individuals facing unexpected expenses or financial emergencies who may have difficulty obtaining traditional financing due to bad credit. By offering quick access to cash without the need for a credit check, Loan and Go ensures that customers can address their immediate financial needs promptly and without hassle.

Reasons you may be denied a Loan and Go loan

  • Incomplete or Inaccurate Information. Providing incomplete or inaccurate information on your loan applications can lead to denial. It's essential to ensure that all personal information provided, such as your Canadian citizenship status or employment details, is accurate and up to date.
  • Inadequate Income. Loan and Go may require applicants to demonstrate sufficient income to repay the loan. If your income is insufficient or unstable, it may impact your ability to qualify for an installment loan.
  • Bankruptcy. If you are currently in the process of bankruptcy, Loan and Go may deny your loan application. This status indicates financial instability and may pose a risk to the lender.
  • Unable to Meet Repayment Terms. If Loan and Go determines that you are unable to meet the repayment terms of the loan, based on factors such as your income and expenses, they may deny your application. It's essential to assess whether you can comfortably afford the loan payments before applying.
  • Employment History. Having an unstable employment history or being unemployed may also result in denial of your loan application. Loan and Go typically requires applicants to have a steady source of income to ensure repayment.

How to repay a Loan and Go loan

  1. Set Up Payment Method. Log in to your Loan and Go account online and set up your preferred payment method, such as automatic bank transfer or manual payment.

  2. Schedule Payments. Determine the repayment schedule that works best for you, whether it's monthly, bi-weekly, or according to the terms of your loan agreement.

  3. Make Timely Payments. Ensure that you make your loan payments on time according to the schedule you've established. Timely payments help you avoid late fees and maintain a good payment history.

  4. Monitor Account Activity. Regularly monitor your bank account activity to confirm that loan payments are being deducted as scheduled. If you notice any discrepancies, contact Loan and Go customer service promptly.

  5. Complete Repayment. Continue making payments until you've fully repaid the loan amount, including any accrued interest and fees. Once the loan is repaid in full, your account with Loan and Go will be settled, and you'll no longer have any outstanding balance.

Editorial opinion

Loan and Go offers a variety of financial solutions, including installment loans online and bad credit loans, catering to the needs of Canadian citizens. With a focus on providing an effective financial solution, Loan and Go prides itself on offering affordable prices and guaranteed data security for its customers. While traditional lending institutions may impose strict credit check requirements, Loan and Go provides smarter loans with no credit check, making it accessible to individuals with varying credit scores. However, it's essential for potential borrowers to carefully consider their financial circumstances and repayment capabilities before applying for a loan. By offering convenient online application options and one-day service, Loan and Go aims to discreetly offer assistance to those struggling to make ends meet. As with any financial decision, thorough research and consideration of all terms and conditions are advised before committing to a loan with Loan and Go.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Verify that the lender is registered with the appropriate regulatory authorities in Canada, such as the Financial Consumer Agency of Canada (FCAC), or is licensed to operate in your province.
  2. Check if the lender is a member of reputable industry associations in Canada, such as the Canadian Bankers Association (CBA) or the Canadian Lenders Association (CLA).
  3. Thoroughly review all terms and conditions outlined in your loan agreement. Understand the repayment schedule, interest rates, fees, and any penalties for late payments or defaults.
  4. Ensure that the contract clearly states the annual percentage rate (APR) and the total cost of borrowing, including any administrative fees or additional charges.
  5. Familiarize yourself with your rights regarding loan cancellation or early repayment. Canadian consumers have the right to cancel a loan within two business days after signing the agreement, without penalty.
  6. Research the lender's reputation by checking customer reviews, complaints, and feedback on reputable online platforms, as well as through resources provided by organizations like the Better Business Bureau (BBB).

Methodology

At Finanso, we've carried out a comprehensive analysis of over 70 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional resources

  • Loan and Go Customer Reviews

Sources

FAQ

What is Loan and Go?

Loan and Go is a Canadian financial institution offering no credit check loans and installment loans online. It caters to Canadian citizens who need quick cash solutions and provides an easy-to-use online application process.

How quickly the funds can be received?

The funds from Loan and Go can typically be received quickly, often within one business day. This quick turnaround time is beneficial for individuals facing urgent financial needs or unexpected expenses.

How do you qualify for Loan and Go?

To qualify for a loan with Loan and Go, applicants must be Canadian citizens, apply online, and meet certain criteria such as having a steady income, a valid Canadian bank account, and a satisfactory credit history with no bankruptcies.

How much can you borrow from Loan and Go?

The amount you can borrow from Loan and Go depends on various factors such as your income, creditworthiness, and the specific loan product you choose. However, Loan and Go typically offers loans of up to a certain maximum limit, which can vary based on individual circumstances.

Is Loan and Go a legitimate company?

Yes, Loan and Go is a legitimate company providing financial services to Canadian citizens. It is registered and operates within the legal framework of Canada, adhering to regulations and guidelines set forth by relevant authorities.

Our mission is to discreetly offer you a quick and effective financial solution that fits your needs. We fulfill our mission using personalized same day service with guaranteed data security and a commitment to protecting your personal information.

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