Credit checks shouldn’t stop you from finding extra financing when times are tough. Fortunately, some lenders understand that your past doesn’t dictate your present or your future, and that’s why they offer loans without document.
Who is the loan without document or proof for?
Many individuals and institutions require good credit as a guarantee of reliability. Consequently, those with less favorable credit ratings usually encounter several obstacles. It is more difficult for them to rent accommodation, obtain a mortgage or obtain a bank loan.
It is sometimes necessary to produce a sum of money to deal with unforeseen events such as a damaged car or an investment that cannot be missed. When the banks tell them no, people with bad credit can count on the no-document loan which, for its part, does not depend on a credit check.
To obtain such a loan from a lender like Alterfina, you must be of legal age, live in Quebec, be employed in the province or have a minimum income of $1,200 per month and not be in the process of bankruptcy.
What is it exactly?
It is simply a personal loan from a direct lender that does not check credit history. Unlike loans granted by traditional banks and credit companies, a documentless loan never goes beyond a few thousand dollars. Its interest rate varies as does its duration, which is usually between ten days and six months.
How it works?
Approval of candidates goes through a short list of simple criteria that do not reveal your personal information or your bank details. This is why it is also called “loan without document”.
After being submitted, the information in your application is confirmed by a process called Instant Bank Verification. Completely secure, it is designed to protect your privacy while analyzing your application as quickly as possible. In fact, the money is deposited directly into your account the same day!
If you have a reliable source of income, nothing should prevent you from obtaining additional funds and repaying your loan on time.
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