Question 1

Will checking my rate hurt my credit score?

Accepted Answer

No. We use a soft credit pull to show your personalized rate, which has zero impact on your score. A hard pull only happens if you accept an offer.

Question 2

What are the fees?

Accepted Answer

There is a one-time origination fee (1%-6%) deducted from your loan amount. There are no prepayment penalties and no hidden charges. Your full repayment schedule is shown before you sign.

Question 3

What credit score do I need?

Accepted Answer

There is no single cutoff. We work with a range of credit profiles, and your rate reflects your overall situation: income, existing obligations, and history, not just a number.

Question 4

How much can I borrow?

Accepted Answer

Loans range from $1,000 to $50,000 with terms between 24 and 84 months. Your offer depends on your credit profile, income, and existing obligations.

Question 5

Am I eligible?

Accepted Answer

You will generally need to be the age of majority in your province, a Canadian resident, and have a steady source of income and an active bank account. You will see eligibility instantly when you start your application.

Question 6

Is E-Loan available in my province?

Accepted Answer

We lend across Canada, with coverage expanding regularly. You will see eligibility for your province the moment you begin your application.

Question 7

How fast will I get the money?

Accepted Answer

Most approved borrowers receive funds in their bank account within 24 hours of accepting the offer, often the same business day.

Question 8

How do repayments work?

Accepted Answer

You repay in fixed monthly installments via automatic withdrawal from your bank account. The amount and dates are set out in your agreement before you accept.

Question 9

What if I miss a payment?

Accepted Answer

We waive the first late fee automatically, and our team will work with you on a flexible plan. Reach out early; we would always rather help than penalize.

Rates & credit

Loans & eligibility

Funding & repayment