Spring Financial

Avg. Rating: 4.9 (4 reviews)

Spring Financial provides Canadians with access to fair priced financial products. They offer a range of products including personal loans, mortgages and credit building.

Their unsecured personal loans application is quick, easy to fill out and every step of the process can be done online or over the phone.

Spring Financial loans range from $500 to $35,000, with interest rates from 9.99 – 46.96%. Once you are approved, then you can sign the loan documents right away. You can use the funds for whatever you want. All of their loans are open which means you can pay them back at any time with no extra fees or penalties.

  • TIME IN BUSINESS: Since 2014
  • # OF CUSTOMERS: Over 250,000
  • TOTAL FUNDED: Over $250M
  • LOANS OFFERED: Personal Loans, Credit Building, Mortgages
Visit site and apply

contact@springfinancial.ca 555 Burrard St #505, Vancouver, BC V7X 1M8
Call Center:
Support Offered:
  • Email
  • Social Media
  • Blog
  • Chat
Availability: Everywhere in Canada

Products Offered

Below are all the products offered by this company.

Conditions & Rates

Interest rate

18.99% – 46.96%




9 – 78 months

Eligibility & Documents

Who is eligible?

To apply with Spring Financial, you have to be the age of majority in your province, have a valid ID, and have some form of income.

Spring Financial does their best to get everyone approved. Once you apply, one of their associates will review your file and connect with you to complete your application and collect the necessary documents.

Repayment & Issuance

How fast can you get the money

Same day approval and funding

Funding method

Same day via e-transfer

How does repayment work

Bank payments, Bi-weekly, Semi-monthly or Monthly

What is Spring Financial

Spring Financial is a leading financial technology company that’s been serving Canadians with fair financial products since 2014. Their mission is to democratize access to better credit with a suite of financial solutions that empower Canadians to build credit, save money, and borrow responsibly.

Variety of Financial Products

This company offers a variety of financial products, including personal loans, mortgages, and their signature credit-building products. They focus on providing unsecured personal loans that range from $500 to $35,000, with interest rates between 18.99% and 46.96%. One of the unique aspects of Spring Financial loans is that they are ‘open’ – allowing borrowers the flexibility to pay back the loan at any time without incurring extra fees or penalties.

Easy Process

To apply for a Spring Financial personal loan, the entire process can be conducted online or over the phone. This convenience, coupled with their quick approval process, sets Spring Financial apart as a flexible and efficient online lender. Once approved, loan documents can be signed immediately, and funds are generally accessible as early as the next day.

They goes beyond just your credit score when evaluating your personal loan application. They strive to approve as many applicants as possible by considering multiple factors such as current income and debt load. This inclusive approach to lending is part of what makes Spring Financial an appealing choice for many Canadians looking to build credit or merge their debt.

Credit Rebuilding Program

In addition to personal loans, Spring Financial also offers the Foundation Program, an innovative credit builder loan aimed to help Canadians build a positive credit history. This program, along with their credit-building products, has helped many Canadians enhance their credit scores and financial standing.

Customer service is a priority for Spring Financial. They offer multiple channels to contact customer support, including email, phone, and online chat. Their comprehensive and user-friendly website also features a blog with helpful financial advice.

With over $250 million in loans funded and helping more than 250,000 customers, Spring Financial has established itself as a significant player in the Canadian fintech landscape. Their commitment to providing fair and accessible financial products continues to earn them positive Spring Financial reviews from many satisfied customers.

What Services Does Spring Financial Offer?

Spring Financial provides a range of services tailored to meet the diverse financial needs of Canadians. Their primary focus is to provide unsecured loans and credit building products that can help individuals build or improve their credit score rating.

Installment Loans

The company provides installment loans ranging from $500 to $35,000. The loan amounts offered are versatile, allowing individuals to tailor the loan to their specific financial needs. These loans have an interest rate from 18.99% to 46.96%, depending on various factors such as your credit report, current income, and existing debt. The company prides itself on offering a quick and easy online application process with the possibility of same-day funding once approved.

Foundation Program

One standout service offered by Spring Financial is their Foundation Program, a unique credit builder loan product. This program helps Canadians build a positive credit history through timely payments, which are reported to the credit bureaus, thereby helping boost the individual’s credit score over time.

Spring Financial provides flexible repayment plans with options for bi weekly payments

or monthly payment, making it easy for borrowers to manage their bill payment schedules effectively. An added advantage is that their evergreen loan is open-ended, meaning you can pay off the loan early without incurring extra fees or penalties.

Loans for Home Owners

In addition to unsecured loans and credit building, Spring Financial also offers home equity loans, another alternative for homeowners who want to leverage the value of their property for financial needs.

Spring Financial’s services are designed to be accessible to as many Canadians as possible, including those with bad credit. The application process involves a comprehensive Spring Financial review of financial information rather than relying solely on credit scores. This includes examining bank statements and considering personal references, which allows Spring Financial to approve a wider range of applicants.

In the interest of transparency and customer support, Spring Financial provides a range of resources, such as their blog and customer service channels, to help borrowers understand their products better and make informed decisions.

Based on numerous Spring Financial reviews, it’s clear that their commitment to providing fair and accessible financial services, coupled with their unique credit building product, has resonated positively with many Canadians.

How to Qualify for a Spring Financial Loan

Applying for a Spring Financial loan involves a straightforward process designed to be as inclusive as possible. To ensure a smooth application, it’s important to understand the eligibility criteria and the documents required.

Eligibility Criteria

  • Age: Applicants must be the age of majority in their respective province.
  • Residency: You should be a resident of Canada.
  • Income: Proof of regular income is needed. Spring Financial understands that everyone’s situation is unique, and so they try their best to accommodate various forms of income.
  • Bank Account: You should have an active Canadian bank account.

Spring Financial prides itself on its commitment to inclusivity. This is reflected in its loan approval process, which doesn’t focus solely on credit score. Whether you’re applying for a personal loan, an evergreen loan, or their credit builder loan, Spring Financial considers a range of factors beyond just your credit score. This makes their loans accessible to Canadians with bad credit or those seeking to build their credit score.

Documents Required

Spring Financial’s loan application process is entirely digital, meaning you’ll need to have the necessary documents in a digital format. Here’s a list of the documents generally required:

  • Proof of Identity: A valid government-issued ID.
  • Proof of Income: This could include pay stubs, a letter of employment, or bank statements showing regular deposits.
  • Bank Account Details: To facilitate the loan disbursement and automatic bill payments, you’ll need to provide details of your active Canadian account.
  • Personal References: In some cases, you may be asked to provide personal references. These serve as additional assurance of your credibility as a borrower.

Remember that the specific documents required and the loan amount you may qualify for can vary based on individual circumstances. If you have any questions during the application process, the Spring Financial review team is always available to assist.

With this information at hand, you’re ready to start your journey towards financial spring with Spring Financial. Their services are designed to provide a fair, flexible, and supportive borrowing experience, whether you’re seeking to consolidate debt, cover an unexpected expense, or build a stronger credit score.

Loan Repayment and Issuance Process

Spring Financial strives to make the repayment and issuance of its loan products as convenient and transparent as possible. Below, we outline the key processes and considerations for the loan amount, rates, and repayment of Spring Financial personal loans and the Evergreen loan.

Issuance of Loan

Once your application has been approved, the process for the issuance of the loan is straightforward:

  • Loan Amounts: Spring Financial provides loan amounts ranging from $500 to $35,000. The specific loan amount you’re approved for will depend on various factors, such as your income, credit score, and current debt load.
  • Loan Disbursement: Upon approval and after you sign the loan agreement, Spring Financial deposits the funds directly into your provided account. The entire process is designed to be quick and hassle-free.

Interest Rates

The rates on Spring Financial loans vary based on several factors:

  • The interest rate you qualify for depends on your credit history, current income, and existing debt. Spring Financial is known for its fair financial products, offering rates that reflect an accurate assessment of these factors.
  • Generally, the rates on Spring Financial loans range from 18.99% to 46.96%.

Repayment Terms

Understanding your repayment terms is crucial to managing your Spring Financial loan effectively:

  • Repayment Schedule: You can make bi-weekly, semi-monthly, or monthly payments, according to what works best for you. This flexibility allows you to align your repayments with your income schedule, making it easier to manage your finances.
  • Early Repayment: An important benefit of Spring Financial loans is the ability to repay the loan early without any penalties. This allows you to save on interest payments if your financial situation allows for it.

Key Points to Remember

  • The loan amount you receive and the interest rate you qualify for are subject to various factors, including your credit score and financial situation.
  • Spring Financial loans are disbursed directly into your account for maximum convenience.
  • Repayments are flexible, and Spring Financial supports early repayments at no extra cost.

Spring Financial is dedicated to making loans accessible and manageable for all Canadians, regardless of their credit score. Their transparency and customer-first approach make them a reliable choice for your borrowing needs. Remember, borrowing responsibly and making timely payments can help improve your credit score over time.

Is Spring Financial Right For Me?

The Benefits of Using Spring Financial

When it comes to selecting a financial lender, the choice often revolves around trust, flexibility, and affordability. Spring Financial offers a host of benefits that make it stand out in the Canadian lending market. Here are the key advantages that come with a Spring Financial personal loan:

Convenient Application Process

The process of obtaining a Spring Financial personal loan is seamless and user-friendly. Applications can be completed online or over the phone, saving you the time and hassle of traditional, paper-based applications.

  • Online Application: With Spring Financial, you can apply for a personal loan from the comfort of your own home, at a time that suits you. This convenience is particularly beneficial for those with busy schedules who find traditional bank hours restrictive.

Competitive Interest Rates

Interest rates play a crucial role in the overall cost of a loan. Spring Financial offers competitive rates, making them an attractive choice for a personal loan.

  • Flexible Rates: Interest rates with Financial Spring range from 18.99% to 46.96%, depending on your credit history, income, and current debt load. These flexible rates can make a significant difference in the overall cost of your loan.

Personalized Loan Amounts

The range of personal loans available from Spring Financial allows for a tailored borrowing experience. You can borrow anywhere from $500 to $35,000, depending on your specific financial needs.

  • Customized Borrowing: Whether you need a smaller loan to consolidate debt, or a larger amount for a significant investment like a home equity loan, Spring Financial offers flexibility in borrowing.

Open Loan Structure

Spring Financial provides open loans, meaning you can repay your personal loan early without incurring any additional fees or penalties.

  • Interest Savings: This open structure can save you money in the long term, as you can avoid paying unnecessary interest if your financial situation allows for early repayment.

Credit Building Opportunities

With every timely payment, you can boost your credit score. Spring Financial supports responsible borrowing, providing a great opportunity for those seeking to build or repair their credit history.

  • Credit Score Improvement: Making timely payments on your Spring Financial personal loan can positively impact your credit score, increasing your chances of qualifying for future financial products.

Frequently Asked Questions About Spring Financial

What is Spring Financial?

Spring Financial is a leading financial technology company that provides all Canadians with simplified money solutions to help build credit, save money, and borrow responsibly.

What does Spring Financial do?

Spring Financial provides unsecured personal loans to Canadians. Their application is quick, easy to fill out and every step of the process can be done online or over the phone. Once you are approved you can sign the loan documents right away and receive the funds as early as the next day.

Is Spring Financial safe?

Yes, they are! Spring Financial was founded in 2016 and has helped millions of Canadians build and access credit.

What can I use the loan funds for?

You can use the funds for whatever you want and all of their loans are open which means you can pay them back at any time with no extra fees or penalties.

When will I know I'm approved or not?

It doesn’t take long to get an approval, once you apply please keep an eye on your phone as one of Spring Financial's associates will be in touch with you to review your application.

What is Spring Financial's mission?

Spring Financial's mission is to democratize access to better credit with an industry-leading suite of financial solutions that provide better opportunities for Canadians to build credit, save money, and access premium loan products.

What makes Spring Financial different?

Spring Financial's industry-leading product set—including signature credit-building products, mortgage solutions, and personal lending—have allowed hundreds of thousands of Canadians to access financing online, via text, or over the phone – all from the comfort of their own home.

Is Spring Financial safe?

Since their launch in 2014, they have become one of the largest fintech companies in Canada with over a million applicants and 250,000 product originations.

What is the interest rate on a Spring Financial loan?

The interest rate you qualify for will depend on a number of factors such as your credit history, current income, and current debt load. To determine the interest rate you qualify for, you can apply on their website and one of their associates will contact you. However, generally speaking their interest rates range from 18.99% to 46.96%.

How much am I qualified for?

Spring Financial loans range from $500 to $35,000. The amount you qualify for will depend on a number of factors such as your credit history, current income, and current debt load.

How long does it take to fill out a loan application for Spring Financial?

Using Spring Financial's convenient online application you can provide everything required to get approved for a loan in minutes.

Spring Financial Reviews

Avg. Rating: 4.9 (4 reviews)
Thank you Spring

It all went pretty well and was a pretty easy process

Approved by Spring Financial

I'm happy with the program. I was able to achieve my goals!

Helped on a call

They have really good phone support. Their agent explained everything and helped me get approved.


merci beaucoup

Jean Luc Leblanc

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