LendingMate is a non-bank lender offering guarantor secured quick loan to borrowers with any credit score and to those who can’t get a loan from traditional banks or other institutions. Its services are currently available in two Canadian provinces – Ontario and British Columbia.
FEATURES OF LENDINGMATE QUICK LOAN
- Best for quick loans with Cosigner
- No hidden fees
- Fast and simple application process
- Funds available within 24 hours of approval
- High interest rates
- Only available in Ontario and British Columbia
LendingMate: Guarantor secured quick loan between $2000 and $10,000
Lending Mate offers guarantor-based quick loans. So, you will need a guarantor who can vouch for you and pay back the loan in case you default. The quick loans can be used to cover different expenses like debt consolidation, home improvements, vacation, vehicle purchase, student loans, and more.
LandingMate minimum loan amount is $2000, while the maximum is $10,000. Loan terms are between 12 and 60 months, with an interest rate of 43%.
Even though LendingMate has one of the highest interest rates among its competitors, it’s very transparent about that. There’s a loan calculator on the website that will tell you exactly how much you’ll be charged.
ELIGIBILITY FOR A LENDINGMATE QUICK LOAN
If you want to apply for a quick loan with LendingMate, you will need a cosigner who has a good credit score and credit history. Also, you have to be over 18 or the age of majority in your province and be a Canadian resident. There aren’t any restrictions on how you can use the loan.
HOW TO APPLY FOR A LENDINGMATE QUICK LOAN
Make an application on their website, tell them how much you’d like to borrow and over how many months.
They will give you a link to send to your guarantor so they can complete their part of the application.
Once your guarantor has finished their part, they will give them a quick call to confirm their details and to arrange paying out the money. They may need to give you a call too, just to finalise everything. They will always let you know if and when they can pay out the loan.
They aim to pay out every loan within 24 hours if the guarantor is accepted. They pay the money into the guarantor’s bank account, for them to give to you. This is to protect customers from fraud, by making sure the guarantor is aware of the loan.
REQUIREMENTS FOR A LENDINGMATE QUICK LOAN
All they require is for their borrowers to be Canadian residents, aged 19-75 and have no active bankruptcy or consumer proposal.
At LendingMate, they do not judge you based on your credit score! They are able to lend to you, even when others can’t, providing you have a friend or family member who trusts you and who is willing to be your guarantor.
OUR VERDICT ON LENDINGMATE QUICK LOAN
For LendingMate quick loan in Canada, no credit check is required, which is great if you have bad credit or no credit history. This puts LendingMate high on the list of best quick loans in Canada and an excellent lender for people who struggle financially. It’s also one of the few companies with a simple application process and no hidden fees on their loans.
You can apply for a LendingMate Quick Loan from HERE
To learn more about LendingMate Quick Loan, CLICK HERE
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