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Spotlight: How to Get Approved for a Loan with Bad Credit

On July 18, 2016 / How to Get Approved For a Loan, Loan with Bad Credit / Comments Off

When lenders assess risk, they do so based on a number of factors, and your credit score and past credit behaviour are very important. When your credit rating is high, your score in the 700s, the last thing on your mind when applying for a loan is…

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Need inspiration? Here’s how several personal finance bloggers #SaveMoney over the holidays. From @CBC & ft.… https://t.co/is1v04DJXJ 11:30:00 AM December 13, 2018

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Prudent Financial Services

Business Hours

Monday to Friday
9am - 5pm

Saturday
9am - 1pm

Sunday
CLOSED

Serving the GTA since 1984

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The Fineprint

Here is the fine print for your Prudent loan.

Min and Max period for a Prudent loan repayment

Answer: 1-5 years

What is the maximum annual percentage rate (APR), which includes the interest rate plus fees and other costs for a year?

Answer: 5.75% plus annual fee (ranges from 10% -19%) APR* – 15.75% – 24.75% maximum (effective rate will vary).

A representative example of a Prudent loan – How is it broken down with all applicable fees

A typical 1000.00 loan, paid off over a 12 month period borrows an amount of 1020.00 which includes the $20 credit application fee. Total cost is 231.94. Payment is 104.33. This does not include optional life insurance

*Rates vary according to credit risks but at all times compliant with all applicable legislation and Prudent does not rely upon any exclusion intended for a pay day style loan company.

Liens and other searches 16.00 and up dependent on loan amount and amortization.

In some situations some security may be required.

Questions? We pioneered the Responsible Lender Pledge. Call us anytime and we’ll be happy to discuss your loan and what fees may be involved depending on your particular circumstances.