Responsible lending policies

All online loan applications are reviewed to ensure that you are able to repay the loan amount. Your request will therefore also be analyzed. This analysis includes, but is not limited to, the following:
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We check your bank account to make sure you haven't made multiple bad payments;We check that your income and expenses meet our criteria.

After analysis, if your file meets all our requirements, your request will be ACCEPTED.

Missed payments and credit score

You will have to pay a fee of $50 at the end of your contract if a payment is refused for insufficient funds or otherwise. However, this will not affect your credit score at Easy Loan. Note that we will not report your file to the credit bureaus. If you should delay a payment, notify us by phone or email 72 hours in advance. A fee of $35 will be added at the end of your contract. Repay your loan assiduously and we assure you unparalleled service during your next renewal.

Annual percentage rate (APR)

The APR on the amount borrowed from the lender is 30%.

Responsible collection

Our collection practices are responsible and comply with the legal provisions in force in Canada. In the event of a problem during the repayment of your personal loan, our collection agents will make sure to find an agreement according to your repayment capacity. Interest is added to the unpaid balance when you fail to make the required payments. As a borrower, you are responsible for your loan and all associated legal fees.

Renewals

Renewing your loan does not happen automatically. You must request it.

Repayment term

The repayment terms for our loans are between 3 and 6 months.

Example of reimbursement

A loan granted of $ 500, including principal, endorsment fee and interest, will amount to a repayment of approximately $750.