Loan Away is an online-only lender that offers installment quick loans of up to $5,000. Currently, it is available in six Canadian provinces – Ontario, Alberta, New Brunswick, British Columbia, Newfoundland and Labrador, and Nova Scotia.
- Easy online application
- 80% approval rate
- Customers with bad credit are approved
- High interest rates
- No detailed information about the loan cost
Bad credit and need quick loan? Loan Away will be fun
This Canadian lender offers quick unsecured loans, home equity loans, and debt consolidation loans. They can be used for covering various costs, including private student loans or emergency expenses. Loan Away loans start from $1,000 up to $5,000, with an APR between 19.9% and 45.9%. The loan terms are from 6 to 36 months. The fees and penalties of their loans are not disclosed.
If you’re thinking of applying for a quick loan with Loan Away, you should know the positive and negative aspects of its services. The best thing about the company is its 80% approval rate. Loan Away also approves customers with bad credit and has a simple and easy online application process. The biggest drawback of Loan Away loans are the high interest rates, especially if you have bad credit.
What do you need to apply for a Quick Loan?
You only need two government-issued IDs and a proof of your income.
Even though it’s easy to be approved by Loan Away, you have to meet the eligibility criteria. The minimum credit score can vary depending on the loan, and your minimum annual income has to be the least $12,000. As to the minimum length of credit history, you have to provide recent bank statements.
As we mentioned earlier, there are no restrictions on using the loan, which means it can be used for anything.
How to get a Quick Loan from Loan Away
Fill out their simple online application
The application process takes less than 6 minutes to complete. You will receive an approval notification in your email.
Sign your contract with one click of a mouse
You will receive your contract in the email shortly after, simply click on the box and they will have your contract back instantly.
Receive the funds directly in your bank account
Upon receipt of your contract their systems will automatically process direct deposit request to your account.
All in all, Loan Away is a great digital lender, especially if you’re looking for a quick loan. It’s one of the few lenders in Canada that give second chances to people who struggle financially and have a poor credit history.
You can apply for a Loanaway Quick Loan from HERE
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