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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 pay off


Repayment of loan

The customer's bank account is debited directly on an agreed-upon pay date specified in the loan agreement.

Additionally, elite customers can enjoy exclusive access to repayment by Interac e-Transfer. These privileges are granted to customers on their second loan with Refresh Financial.

Loan extension

Extending loans with Refresh Financial company is not allowed.

Early repayment

Clients are allowed to repay loans early without any penalty fees. Upon receipt and processing of the payment, the customer can begin a new loan application except in selected regions specified on the Refresh Financial company website.


How can I find out the remaining balance?

To verify the remaining balance and savings, the client may contact Refresh Financial customer experience agents via the official website. It is important to note that the remaining balance may change on a daily basis; hence the transfer payments must be made on the same day as the balance verification. Also, payments may be processed even when they are not yet confirmed by the bank as successful. In a situation like this, the agent will provide the customer with the current information; however, the agent will also inform the customer that if the payment in question is returned as unsuccessful, the balance will be added to the remaining balance.

What to do if the payment has failed?

Suppose a payment has been bounced, it is necessary to contact customer support by filling out the form on the official site. The specialist will work to find the best options to resolve the issue.

What to do if I missed the payment?

If a customer is aware that the payment will be missed, it is required to contact Refresh Financial Help Centre by filling in the special form on the official website at least three business days in advance to discuss alternative arrangements.

Debt collection methods

Refresh Financial uses responsible collection methods in compliance with the legal requirements of Canada. If a problem occurs during the time of repaying a credit, company specialists will make payment arrangements with the clients while taking the client's current situation into account. However, missed payments will result in accumulated interest on the unpaid balance. The client is therefore responsible for all legal fees generated from recovering a past due balance.

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

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1250 $
10000 $
Loan term

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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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