Time in business:
Customers:
Total funded:
Eastern Loans offers personal loans to Canadians. They started in 2014 and can process loan funds as fast as the same day as applying for one.
Products Offered
AMOUNT
$500 - $1,000
INTEREST RATE
Varies
TERMS
3 - 6 months
Payday Loan
Conditions & Rates
Cost Varies by Province Amount $500 – $1,000 Term 3 to 6 months
Eligibility & Documents
Who is eligible
- Be a Canadian Citizen or permanent resident
- Be paid by direct deposit
- Be 18 years old and over
- Have a steady job (3 months minimum)
- Have a low ratio of NSF
- Earn at least $1200 /month
- Have a low ratio of payday loans
What you need to provide
- Paperless option through instant bank verification (IBV)
Repayment & Issuance
How fast can you get the money Same Day Funding method Direct deposit or Interac e-transfer How does repayment work As per client’s pay deposits (weekly, bi-weekly, monthly, semi-monthly) through a pre-authorized debits
Contact information
info@easternloans.com- 5600 -100 King Street W, Toronto, ON, M5X 1C9
Availability:
All of Canada except for QuebecSupport Offered:
- Web Chat
- Email Support
- Phone Support
- FAQ's
- Blog
Call Center:
Mon-Fri: 8AM to 8PM ET Weekend: 11AM-4:30PM ETFrequently Asked Questions About Eastern Loans
What is Eastern Loans?
What Products and Services Does Eastern Loans Offer?
Eastern Loans offers online payday loans in Canada. You can receive anywhere from $500 - $1000 the same day.
What Is the Interest Rate on an Eastern Loans Loan?
Eastern Loans offers an approximate annual interest rate of 23%. If unpaid, the applicable interest rate is 1.74% per month.
What Are the Eligibility Requirements to Get a Loan From Eastern Loans
To qualify for a loan from Eastern Loans, you must be a Canadian resident, be 18+ years of age, have a low ratio of NSF, earn at least $1,200 monthly and have a steady job that you've been at for 3 months minimum.
How Fast Can I Get a Loan from Eastern Loans?
If approved, you can get your loan deposited the same day as applying for one from Eastern Loans.
Who Is Unlikely to Receive a Loan From Eastern Loans?
You're unlikely to receive a loan from Eastern Loans if you do not have a steady job, submit incorrection information on your application, have too many non-sufficient funds on transactions, have an undischarged bankruptcy or a consumer proposal ongoing.
Is Eastern Loans Safe?
Eastern Loans has been in business for over 5 years and was founded in 2014. All application data shared on their website is secured by Norton Secured, which is powered by VeriSign to show customers they take customer privacy seriously.
How Much Can I Borrow from Eastern Loans?
You can borrow anywhere from as little as $500 to as high as $1,000 from Eastern Loans.
What Is the Term Length for an Eastern Loans Loan?
You have between 3 and 5 months to pay back a loan from Eastern Loans.
Can I Apply Online for a Loan From Eastern Loans?
Yes, you can apply for a loan from Eastern Loans online and by phone. Their application online is simple and fast. As soon as you fill out the loan request form and send them the required documents, they'll let you know if you're approved.
How Will Eastern Loans Send Me the Loan?
Eastern Loans sends loan funds by direct deposit.
Does Eastern Loans Offer Those Self-Employed Loans?
No, only people paid by direct deposit on recurring dates are eligible for loans by Eastern Loans.
Eastern Loans Reviews
Avg. Rating: 4.7 (12 reviews)
Got back to me within an hour
April 10, 2018
“They were really fast at getting back to me. I applied online and got a call within the hour. Once all the paper work was checked I got the loan I was looking for in 1 day. ”
Great service
December 15, 2018
“Great service ”
Great staff
July 14, 2020
“I really appreciate the folks at Eastern Loans for helping me with my loan. They took the time to explain the terms of the loan agreement. I didn't feel rushed or pressured at all (as with some other payday companies). Got approved within 24 hours. Great experience and service. ”
Simple
March 8, 2024
“Filled out form, got a phone call, shared a few details and was approved in 2 days.”
PayDay Loan
March 11, 2025
“Car broke down and needed cash to fix it asap.”
Great service
March 11, 2025
“Great service ”
Quick and Efficient Service
April 3, 2025
“Helpful staff and straightforward process. Interest was a bit high, but expected.”
Same-Day Approval, No Hassle
April 3, 2025
“Quick and efficient! Got my payday loan the same day I applied. Very grateful.”
Smooth from Start to Finish
June 3, 2025
“I needed a short-term loan and Eastern Loans came through. Smooth from start to finish.”
Fast & Reliable, But Short Terms
June 3, 2025
“Fast and reliable. Would’ve given 5 stars if the repayment terms were a bit longer.”
Great for Emergencies
June 3, 2025
“Great service for emergency needs. No hassle and very user-friendly website.”
Helpful, But Watch the Fees
June 3, 2025
“Got the funds I needed, but the fees added up quickly. Still helped in a pinch.”
