Loanz: what to expect from this online loan
Loanz connects Canadians with quick access to personal loans entirely online, without paperwork or long waits.
Get matched with a loan offer and receive funds in as little as 15 minutes, regardless of your credit score.
*We are not affiliated with LoanConnect. Our content is for informational purposes only. We may earn advertising revenue through banners and sponsored placements on this page.*
Taxes and fees
Loanz provides a transparent way to apply for loans online, with no hidden charges.
From 29.9% APR.
Up to $50,000.
usually up to 60 months.
No minimum required.
Regulated lending notice: Loanz works with licensed lenders in compliance with Canadian provincial lending laws.
Pros and cons of using Loanz
Loanz appeals to Canadians looking for speed and simplicity, though it’s important to be mindful of costs.
Pros
- Quick digital process with fast decisions and funding;
- Paperless application, no forms or uploads required;
- Open to all credit backgrounds, including limited or damaged credit;
- Entirely online no need for in-person appointments or calls;
- Secure platform with strong data protection and privacy standards.
Cons
- Not available in Quebec or select other regions;
- Loanz is a broker, not a direct lender, so terms vary by partner;
- No option to visit a physical office support is fully digital.
Loan payment simulator (estimates only)
Here’s what your monthly payment might look like based on common loan amounts and terms.
| Loan Amount | Term | APR | Estimated Monthly Payment |
|---|---|---|---|
| $3,000 | 12 months | 29.9% | $298.05 |
| $7,500 | 24 months | 32% | $408.90 |
| $15,000 | 36 months | 34% | $596.40 |
*This loan calculator provides only estimated values. Actual loan terms may vary depending on your credit profile, lender, and location. This is not a financial offer.*
Why Canadians choose Loanz
Loanz stands out for its speed, flexibility and inclusiveness.
- Entirely digital process from start to finish;
- Accessible for borrowers with low or fair credit;
- No paperwork or in-person appointments;
- Quick turnaround for approval and funding;
- Secure platform and licensed lending partners.
Compare Loanz to other Canadian lenders
Loanz offers unmatched convenience, but how does it stack up against traditional lenders?
Compare top lenders for fast personal loans
| Lender | APR | Amount | Funding Speed |
|---|---|---|---|
| Loanz | 29.9% – 46.96% | Up to $15,000 | 15 minutes |
| Fairstone | 19.99% – 39.99% | Up to $50,000 | 1–2 days |
Eligibility requirements to apply with Loanz
Before applying, you’ll need to meet some basic criteria to qualify.
- Be a Canadian resident: Must live in Canada and be at least 18 or 19 depending on your province.
- Active bank account: Used to receive funds and set up repayment.
- Income source: Employment, benefits, or other proof of income may be requested.
- Valid ID: Government-issued identification required for verification.
How to apply with Loanz
Loanz offers a fully digital borrowing experience that doesn’t require phone calls, paperwork, or in-person visits.
All applications are submitted online through the official Loanz website, and there is no mobile app involved in the process.
The platform is optimized for desktop and mobile browsers, so you can apply using a computer, tablet, or smartphone at your convenience.
You’ll need to be a Canadian resident living in a province where Loanz operates. While most provinces are eligible, residents of Quebec are currently not able to access personal loans through Loanz.
Additionally, you must have a Canadian bank account and meet basic eligibility requirements related to age, residency, and income.
Because Loanz connects borrowers with multiple lending partners, the application process is centralized on their website.
Frequently Asked Questions
Here are answers to some of the most common questions about Loanz.
Editorial Verdict
Loanz offers a simple and fast way for Canadians to access personal loans even with less-than-perfect credit. With instant decisions, minimal paperwork and secure digital processing, it’s an excellent choice if you need money quickly.
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