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Rating by Finanso®

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.

Refresh Financial's application


How to apply

Visit the official company website.

  1. Click on the "Get started" button, specify the credit building loan amount and term, and press "Apply". It is important to familiarize yourself with the calculation of the repayment and the interest rate before clicking on the "Apply now" button.

  2. Fill in your data and contact details where applicable, and then click on the "Continue" button.


Refresh Financial does not require applicants to provide any documents; however, they can find relevant tools on the website to help better understand Credit Builder Loan and Secured Card solutions, requirements, fees, how to build better credit ratings, and choose an appropriate program.

To qualify for the Refresh financial company Credit Builder Loan or Secured Card, you must:

  1. Be a Canadian resident;

  2. Be over the age of 20 years old;

  3. Have an active mobile phone and a valid email address;

  4. Receive at least $2,000 in income in the previous three months.


Reasons for rejection

Refresh Financial company system reviews and analyzes various data entered into the application, which includes the income of the consumer as well as the credit history, bill payments, repayment with other lending companies in Canada, amongst other metrics. The loan application may be declined based on quite a number of reasons or a combination of these reasons.

How long are applications considered?

Once all required information and documents have been provided to Refresh Financial, the application is typically processed within one business day.

How quickly can funds be received?

Clients can receive funding upon consideration and confirmation of the application. Typically once the consumer has attached the information and signature to all relevant documents, Refresh Financial company offers financing via these channels:

  • Interac e-Transfer: clients receive an email to accept a money transfer within two hours.

  • Direct deposit: funds are deposited to the client's bank account within 1-2 business days.

Financial products

Refresh Financial
Credit builder loan
Rating by Finanso®

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™

Effective interest rate on the product

up to 19.99%

Loan term for the financial product

up to 60 months

Calculate loan payments in Refresh Financial

Refresh Financial calculator will allow you to calculate an approximate payment schedule for the loan

Refresh Financial calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 25.09.2022
Loan amount

Enter the desired loan amount

1250 $
10000 $
Loan term

Specify the loan term for the calculation


What to pay attention to when applying for a loan from Refresh Financial

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Refresh Financial from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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All Refresh Financial’s reviews by September 2022
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