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A quick and simple method of acquiring financing in Alberta is an installment loan. Whether you need repairs for your car, have unexpected bills, business investment capital or even just a vacation, online loans in Alberta can be found on Smarter Loans. It’s easy to get approved in Alberta for an online loan. No more need for long lines or heavy paperwork. Just complete a quick online application and the cash is sent to you within a couple days.
Check below for a roster of reputable companies that each offers loans that include products offered, interest rates, qualifications, terms and even reviews by other customers. Choose one and then hit, “Apply Now” next to the company’s name to begin the online application process on their website. Or just apply through Smarter Loans and we’ll find a suitable Alberta lender for you and have them reach out within 24-48 hours. Other viable options could be a home equity loan or a personal loan in Alberta.
Any loan that is paid back in installments is an installment loan. These loans are given to the borrower in one lump sum and paid back as per a schedule. The payment schedule will cover the installments with which the loan is paid back. Installment loans in Alberta describe a wide variety of loan types.
Home loans, car loans, and other personal loans are examples of installment loans in Alberta. Revolving credit options like a line of credit are not installment loans.
The first step to getting an installment loan in Alberta is choosing your lender.
The first place to look for an installment loan is your local bank. Bank loans offer rates that are lower than most other lenders’ rates.
Some alternative and online lenders can get you an installment loan in Alberta when you’re having trouble getting your needs met with traditional lenders. Alternative lenders are fast and often offer loans to borrowers with less than perfect credit.
When you’ve selected a lender, you just need to submit an application and qualify. You can go into your bank and ask for an installment loan directly or with alternative lenders, you can just apply online.
In Alberta, you need to be at least 18 years old to get an installment loan. Other installment loan qualification requirements vary by lender. If you have fair or good credit, you should be able to get a loan easily.
Your credit score & income will be the biggest factors for lenders to determine the rates to offer you. They will also consider your employment history and payment history on your bills.
Not all lenders run a credit check for installment loans in Alberta. Lenders that don’t check your credit score will offer high rates.
To get a loan without a credit check in Alberta, you need to find a lender that specifies that they don’t check them. These lenders can be found online and can get you a loan quickly. Just keep in mind that the APRs on no credit check loans are usually higher.
Yes, you can get an installment loan in Alberta if you have bad or no credit. If your credit history is blank, you will have to find a lender that will deal with no-credit borrowers. Those lenders will still want to look at your income.
Many online lenders give loans to bad credit borrowers. These lenders see bad credit borrowers as riskier which typically means higher rates. You may also be asked to provide collateral in some cases to secure the loan.
Installment loans can be used for many different purposes in Alberta. They are meant for any expense you can’t afford right away.
Some reasons to get an installment loan in Alberta include:
Amy Orr is a professional writer and editor with over 10 years of experience in the Canadian, U.S. and U.K. financial markets. She has written for numerous publications on topics as diverse as economic literacy, corporate finance, and technical analysis of numerical data. Prior to transitioning to full-time writing, she worked in the hedge fund sector. Her academic background is astrophysics, and she has a Masters in Finance from the University of Edinburgh Business School.
Jenna West is Smarter Loans' in-house financial writer and content director. She has been covering the Canadian FinTech and finance industry since 2017, including financial trends analysis, industry surveys, regulatory updates and changes in Canadian consumer behaviour when it comes to finance.
