Lender
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.

Apply For Loan Away

Advertiser Disclosure

Loan Away offers a variety of loan options to meet diverse financial needs. They provide personal loans ranging from small amounts up to $5,000, catering to individuals who require immediate funds for various purposes. Additionally, Loan Away extends home equity loans for larger financial requirements, offering amounts of up to $50,000. These loans are designed to provide flexibility and accessibility to borrowers, allowing them to address their financial challenges effectively.

How to apply for a Loan Away loan

  1. Visit the Website. Open your web browser and navigate to the Loan Away website.

  2. Click "Apply Now". On the homepage or designated landing page, locate the "Apply Now" button and click on it to initiate the loan application process.

  3. Fill Out the Application. Once you've clicked "Apply Now," you'll be directed to the loan application form. Fill out all required fields, including name, email, password, address, date of birth, reason for the loan, and desired loan amount.

  4. Submit Your Application. After completing all required fields, review your information for accuracy. Once satisfied, click the "Submit" button to send your loan application to Loan Away for review and processing.

  5. Await Approval Notification. Upon submission of your application, Loan Away will process your request and notify you of the approval status. You will receive an email shortly after your application has been reviewed.

Conditions

  1. Loan Amortization Period. Loans amortization periods range from 6 to 36 months, providing flexibility in repayment terms to borrowers.

  2. Annual Percentage Rate (APR). Loan Away offers APRs between 19.9% and 45.9%, depending on factors such as creditworthiness and the specific loan product.

  3. Loan Amounts. Borrowers can access loans of up to $5,000 through Loan Away, catering to various financial needs and circumstances.

  4. Home Equity Loans. For individuals seeking larger loan amounts, Loan Away offers home equity loans of up to $50,000, leveraging the equity in their homes to secure financing.

Requirements

  1. Proof of Legal Age. Applicants must provide proof that they are the age of majority in their province or territory of residence.

  2. Government-Issued Identification. Applicants are required to present two pieces of government-issued identification for verification purposes.

  3. Proof of Employment and Income. Applicants must provide documentation demonstrating their employment and monthly income for the past 3 months. This can be in the form of pay stubs or bank statements.

  4. Contact Information. Applicants need to provide a valid email address, mailing address, and phone number for communication purposes.

  5. Bank Account. Applicants must have a valid bank account, which will be used for loan disbursement and repayment purposes.

Reasons for rejection

  1. Debt Consolidation Loans. If the applicant's debt-to-income ratio is too high or if they have significant outstanding debts, they may be denied a debt consolidation loan.

  2. Pre Approval. Despite pre-approval, if the applicant's financial situation changes or if there are discrepancies found during the final approval process, they may be denied the loan.

  3. Credit History. A poor credit history, including late payments, defaults, or bankruptcy, may result in denial of the loan application.

  4. Income Verification. If the applicant fails to provide sufficient proof of income or employment stability, they may be denied the loan.

  5. Incorrect Information. Providing incorrect or incomplete information on the loan application may lead to denial by Loan Away.

Additional resources

Sources

FAQ

How long does it take to get approved by Loan Away?

Approval times for Loan Away loans vary depending on factors such as the applicant's creditworthiness and the type of loan requested. Generally, applicants can expect a quick approval process, often within a few business days.

How quickly funds can be received?

Funds from Loan Away loans can typically be received swiftly once approved, with many borrowers accessing their funds within a few business days after approval.

How trustworthy is Loan Away?

Loan Away is known for its reliability and trustworthiness in the lending industry. They adhere to regulations and industry standards to ensure transparency and fairness in their loan practices.

Does Loan Away verify income?

Yes, Loan Away may verify income as part of the loan application process to assess the applicant's ability to repay the loan amount.

Does Loan Away hurt your credit score?

Loan Away may perform a credit check as part of the loan application process, which could potentially impact the applicant's credit score. However, the impact may vary depending on the individual's credit history and the specific credit bureau's scoring model.

Financial products
Loan Away
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
$1,000-$5,000
Rate
i

Effective interest rate on the product

up to 45.9%
Term
i

Loan term for the financial product

up to 36 months
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