Fast Online Personal and Commercial Loans in Edmonton, Alberta

The economy of Edmonton is the major economic centre for northern and central Alberta and a major centre for the oil and gas industry. As of 2014, the estimated value of major projects within the Edmonton Metropolitan Region was $57.8-billion. The prosperity of Edmonton’s industries has attracted many bright minds of all kinds, each with unique ideas for innovation. In order to support special individuals to innovate and evolve, it’s important for adequate resources to be available. This is made possible by online loans in Edmonton that are applied to online business loans, online car loans, auto, commercial, payday, mortgage, equipment and much more. With the accessibility of the internet, online loans are easier than ever to obtain. Even if you don’t have a special business or passion project in mind and instead just would like to take a highly anticipated vacation, then online loans in Edmonton could prove very useful to you.

There is no need to worry if you don’t get approved right away for your online loan because countless other qualified providers are available. Securing approval for an online loan is ultimately dependant on a variety of factors including proof of income and credit score.

In order to prevent wasting endless hours and energy, we’ve redesigned the application process so that all of the information that you need to efficiently discern which provider can accommodate your needs is available in one place. What this does is allows you to compare your options before applying, and only apply to providers who are compatible to your unique needs. Scroll down to view proven providers from Edmonton alongside all of their terms, rates and offers.

Through Smarter Loans, you can apply straight from this page to any provider of your choosing. This also means you won’t even need to leave the comfort of your home to get approved for the online loan that you desire. Once you’ve determined which option makes sense, click “apply now” to fill out a quick online questionnaire. Your loan will be approved quickly as long as you meet the requirements,. If you don’t want to choose a provider yourself, alternatively you can pre-apply with Smarter Loans and we’ll source Edmonton companies based on your specifications, on your behalf.

Frequently Asked Questions About Online Loans in Edmonton

What paperwork do I need to apply for an online loan in Edmonton?

Applying for an online loan in Edmonton is really very simple, as most online loan providers require a minimum of paperwork. All you need is:

  • ID
  • Proof of address
  • Income or employment information (such as pay stubs or bank statements)

Some lenders may require more than this – for example, other financial documents – so it’s always worth double checking a loan’s application instructions.

Are online loan providers in Edmonton safe to use?

Unfortunately online loans have something of a mixed reputation, and this is because some online loan providers have hidden fees, non-transparent terms and conditions, or poor customer service – all of which can make your loan experience extremely stressful. However, there are plenty of reputable online loan providers too, with excellent customer reviews, clear and straightforward terms, and reliable processes. To be sure you go to a provider that’s trustworthy, check their business history, online profile, and customer reviews, or see if they’ve been vetted by an independent third party.

Does my credit score affect my online loan application in Edmonton?

In a word: yes. Most online loans require a credit check, and this means that those with a low credit score may not qualify for every online loan. Generally, a loan from a bank or credit union requires a score of 650 or above. A loan from an online lender usually requires a score of at least 600. Edmonton’s average credit score is 645 (compared to the national average of 650).

Can I get an online loan in Edmonton without a credit check?

Yes, some online lenders will give you a personal loan without a credit check, but you should know that by skipping a credit check you are almost guaranteed to get worse terms on your loan. This is because, without a credit history to test your financial trustworthiness, a lender will automatically consider you a higher risk, and charge you more in interest.

Can I get an online loan in Edmonton if I’m self-employed?

Yes, although you may have to carefully consider what paperwork you’ll need before applying for your loan. Almost all online loans require proof of income, and many lenders ask to see pay stubs. If you’re self-employed (or a freelance worker, occasional worker, or have any other non-traditional form of income) you’ll need to source something other than a traditional pay stub that proves your regular income stream. This could be bank statements, tax statements, or something similar. Just make sure you double-check with your chosen lender that the paperwork you have available will meet their requirements.

What alternatives to online loans are available in Edmonton?

As Alberta’s capital, Edmonton has a thriving loans market offering almost every possible type of loan to its residents. Online loans are popular because they offer convenience, but you should know that you have other options that may be better suited to your particular needs. Other loans that may work for you include:

  • Secured personal loan
  • Installment loan
  • Auto loan
  • Title loan
  • Line of credit
  • Debt consolidation loan
  • Home equity loan
  • Credit card
  • Peer-to-peer loan
  • Guaranteed loan

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