04. LendingMate: Personal Loan Canada
The non-bank lender LendingMate provides loans to borrowers with any credit score and to people who are unable to get credit from regular banks or other financial organisations. The two Canadian jurisdictions of Ontario and British Columbia now provide its services.
Loan and Service Types
Lending Mate provides loans with guarantors. Therefore, you’ll need a guarantor who can stand in for you and repay the loan if you’re unable to. The loans may be used to pay for a variety of costs, including school debts, home upgrades, vacations, and automobile purchases. The smallest loan amount offered by LandingMate is $2000, while the highest is $10,000. A 43% interest rate is charged on loans with durations of 12 to 60 months.
Despite having one of the highest interest rates among its rivals, LendingMate is quite open about it. On the website, there is a loan calculator that will show you the exact amount you will be charged.