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Loan Away

Avg. Rating: 5.0 (4 reviews)

Loan Away is a Canadian owned and operated online-only lender. This means they don’t have expensive retail branches or locations to maintain, and more savings can be passed onto customers. They use unique proprietary technology to approve loan applications. It’s easy to fill out applications in the comfort and privacy of your home.

TIME IN BUSINESS: Since 2015
# OF CUSTOMERS: Over 50,000

1-866-689-0091

support@loanaway.com 5060 Spectrum Way, Unit 301 Mississauga, Ontario L4W 5N5

Call Center: Mon-Fri 9AM-9PM; SAT 12-6PM; SUN CLOSED

Support Offered:

Help Center/Blog
Email Support
Social Media

Availability: Alberta, British Columbia, New Brunswick, Newfoundland, Ontario, Nova Scotia

Products Offered

Below are all the products offered by this company.

Conditions & Rates

Interest Rate

19.9% – 45.9%

Amount

$1,000 – $5,000

Term

12 – 36 months

Eligibility & Documents

Who is eligible

Canadian resident over 18
Minimum income of $1,000 per month

What you need to provide

Government ID
Proof of Income
Void Cheque / PAD Form
Bank Statement

Repayment & Issuance

How fast can you get the money

Under 48 hours

Funding method

Direct deposit

How does repayment work

Weekly, Bi-Weekly or Monthly pre-authorized payment from customer’s account

Frequently Asked Questions About Loan Away

What is Loan Away?

Loan Away is a Canadian owned and operated lender that uses unique proprietary technology to approve loan applications.

What kind of loans does Loan Away offer?

Loan away offers various loans including instalment loans, debt consolidation loans, home equity loans and secured loans (asset-based).

How much can I borrow from Loan Away?

You can borrow a minimum of $1,000, to a maximum of $5,000 from Loan Away.

What is the interest rate on a Loan Away loan?

You can get a loan from Loan Away with an interest rate between 19.9% and 45.9%.

What is the term length of a Loan Away loan?

You have between 12 and 36 months to repay your loan from Loan Away.

What are Loan Away's eligibility requirements?

In order to get a loan from Loan Away, you must be a Canadian resident over 18, make a minimum income of $1,000 per month, provide government identification, proof of Income, a void cheque, and a bank statement.

How many people does Loan Away approve for a loan?

According to Loan Away's website, they approve 80% of their applications.

Why should I chose Loan Away?

One reason why people chose Loan Away is because of their low, affordable payments. Unlike short term payday loans, they can amortize your loan for up to 36 months, lowering your monthly interest expense and allowing you to budget.

How quickly can I get my loan funds?

If approved, Loan Away will deposit the money directly into your bank account, usually within 1 hour or less.

Loan Away Reviews

Avg. Rating: 5.0 (4 reviews)

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Second loan

Second loan from loan Away and second time very happy. Thanks

Nora Horner

Quick online service

I leave far from money lending stores. Loan Away allowed me to apply online and I got my money. Overall process and support is good. Big thanks to Rose for explaining me everything in details over the phone.

Ammy Neal

I got my money at the end

Their website says that they make decisions in 20 minutes. It took them 4 hours to approve me. However, I got my money at the end. Looks fine

Ethan Davis

So far so good

I got approved and money was transferred into my bank last night. I'm just waiting now for my bank to put the funds into my bank account .. Loan Away says 24-48 hours I'm hoping its on the lower end ...

Lindsey Paquin Morrison