How can we Help?

About easyfinancial

What is easyfinancial and what do we do?

We approve when banks won’t and we’re way cheaper than a payday loan. We’re a fast, convenient alternative for getting the money you need. A simple 7-minute application process can put up to $45,000 in your pocket in less than 24 hours.

How much money can I borrow?

We offer unsecured loans up to $15,000 and secured loans of up to $45,000 with terms from 9 to 120 months.

What is the difference between easyfinancial and a payday loan?

For starters we’re way cheaper than a payday loan! We provide personal loans with terms of 9 months to 120 months to help you take back control of your cash flow and to break the payday loan cycle. Also, we can provide you with up to $45,000 instead of the lower payday loan lending amounts

What is the difference between easyfinancial and a bank?

We have a greater flexibility in terms of who we can approve and a lending criteria that’s easier to meet. When banks won’t approve we are here to help.

Where are you located?

We have over 200 locations across Canada as well as a national loans centre.

Customers Impacted by COVID-19

Can I skip a payment, miss a payment or defer a payment if I am in isolation or have experienced job loss?

If you are amongst the many Canadian facing financial hardships as a result of the evolving CVID-19 situation, please reach out to your branch or our call center immediately to find out how we can help. We understand that these are unprecedented times and assure you that we are here to help and support you through these uncertain times. We are able to support you by offering the ability to temporarily defer a payment, or extend the term of your loan to help reduce the amount of your payments. As each case is unique, our team is trained to assess your individual situation and offer the solution that is best fit so please contact us and we will let you know how we can help.

I’ve been a customer of yours and now I need a new loan or increase offer, will you provide lower interest rates given what’s happening with COVID-19?

Our rates are based on a customer’s credit history and their ability to afford the monthly payments of their loan. We are committed to offering each of our customers a personalized rate based on their credit profiles. Upon successful repayment, we also reward many customers with interest rate reductions as part of our program to try and help them graduate back to prime.

Loan Qualification

What are the minimum requirements needed to qualify for a loan?

The minimum requirements to qualify for a loan are:

  1. Age – depending on province, minimum age is either 18 or 19. 
  2. Employment Status - Your employment status must be full time, part time, self-employed, seasonal, maternity leave, retired (pension), or disability. A customer’s employment status cannot be social assistance (i.e. welfare) or unemployed (EI).
  3. Residency status - A customer must be a Citizen of Canada or a Resident of Canada whose status is Permanent Resident, Work Permit or Foreign Student for at least 6 months. A customer whose Residency Status is Visitor or Other is not eligible for lending. 
  4. Minimum Income - A customer must have a minimum monthly net income of $1,200 of which $1,000 must be full-time, part-time, self-employed, disability or pension.  

What documents are needed to get an approval?

We require the following documents:

2 recent pay stubs

  1. Last 90 days of banking information 
  2. 1 recent bill addressed to your current home 
  3. A piece of government photo ID 

How much do I need to earn to get a loan?

You need to have a minimum monthly net income of $1,200 of which $1,000 must be full-time, part-time, self-employed, disability or pension.

What credit score do I need for easyfinancial?

This is determined on a case by case basis. We use many factors to approve applicants for a loan, including monthly income and credit score. We factor in your debt-to-income ratio (50%), debts in collections, car payments and monthly debt obligations. Those with bad credit (300-720) are encouraged to apply.

Can I get a loan if I don’t have a job?

No. You need to be employed at the same company for at least 6 months; however, if you are a customer and find yourself unemployed, we are happy to help. Please call our customer service support team at 1-866-327-9597 for more information.

Does easy financial do credit checks?

Yes, all our credit checks are hard inquiries.

If I don’t have any credit history or really bad credit, can I get approved for a loan?

You can still get a loan if you have a co-applicant. Getting a co-applicant will increase your chances of getting approved.

Can I get a personal loan with a credit score of 550?

Yes. You may qualify for a bad credit loan if you have a credit score of 550. Keep in mind, each circumstance is different as we look at different lending criteria. Getting a co-signer will increase your chances of getting approved.

Can I apply for a secured loan if I’m NOT the owner of the house?

If your name is not on the mortgage and you don’t pay property taxes, then you are not considered a homeowner. To qualify for a secured loan, you need to provide mortgage statements and property tax documents.

I am a business owner, what do I need to qualify for a loan?

If you own your business, we require the Notice of Assessment (NOA’s) from the last two years to assess your income.

Loan Information

What is the interest rate at Easy Financial?

Our interest rate is 19.99 – 46.96%. For more information on this please view our responsible lending page.

How long will it take me to complete an application?

Our simple application process takes approximately 7-minutes.

How long will it take for me to get an approval?

We provide a decision on your application within 30 minutes.

What options do I have to receive my loan funds?

You can choose to get your loan funds via Interac e-Transfer, on a goeasy MasterCard, or by EFT (electronic funds transfer) that gets the funds deposited to your bank account.

What do I need in order to take advantage of the Interac e-Transfer option?

To get your loan funds via Interac e-Transfer, you need to have a working email address, a mobile device with SMS capability, and a bank account with an institution that supports online banking/e-Transfers.

Is Interac e-Transfer a secure method of receiving money?

Yes, it is secure. Your money does not travel by email or text message- only notifications and deposit instructions do. Your financial institution and the recipient’s financial institution exchange funds using established and secure banking procedures.

What are your payment terms?

We offer personal loans with terms of 9 months to 120 months providing you with the flexibility you require.

How do I make payments?

Loan payments are made through our pre-authorized payment plan. Pre-authorized payments are an automatic withdrawal from your bank account each time your payment is due.

What happens if I can't make a payment, or if I missed a payment?

We know unexpected events can happen. If you think you might not be able to make payment on time, or recently missed a payment, contact us at 1-855-441-3279 immediately. We can work with you to figure out a solution that works for you.

My circumstances have changed unexpectedly, and bankruptcy/consumer proposal seem to be my only options – can you help?

Yes, please call us immediately at 1-885-441-3279 to see how we can help. You may know that bankruptcy or consumer proposal can stay on your credit record for several years and set your financial goals back even further. We can assess your options for the loan you have with us, to help ease your situation.

If my paycheque has been delayed, what do I need to do?

If you cannot make payment, please let us know 2-3 days prior to your payment date to avoid NSF fee.

Why is my balance still so high?

When you have extension in NSF or skipped payments, all that interest collects. Until you make up the payment, the balance will still remain high. Make additional payments towards the loan to cover the NSF charge and skipped payments.

How do I lower my monthly payments?

Make extra payments. Be sure to not make the payment the same time your contractual payment comes out.

creditoptimizer Information

What do I do if see a mistake in my credit report?

Call TransUnion at 1-800-663-9980. They can answer questions about your credit file and help you have any errors corrected.

Who do I contact if I have trouble logging into creditoptimizer?

Contact our partner ScoreNavigator at 1-866-298-3562 or by email at [email protected] and they can help log in to your account.

How do I reset my password?

Follow these steps:

  • 1. Go to creditoptimizer.easyfinancial.com
  • 2. Click on "Forgot Password"
  • 3. Enter the email address associated with your easyfinancial account
  • 4. Click 'Resend Email'

What do I do if I forgot my password?

You’ll get an email right away with a link to reset your password

How do I set up my account?

Follow the instructions that were sent to you in an email with the subject line ‘Set up your creditoptimizer account’. If you can’t find the email please contact our partner ScoreNavigator at 1-866-298-3562 or by email at [email protected].

What is a PIN?

PIN stands for Personal Identification Number. It’s a 4-digit security code used to verify your identity when you log into creditoptimizer. It’s a security feature that, along with your password, helps keep your information safe.

What do I do if I forgot my PIN?

Follow these instructions:

You'll get an email right away with a link to reset PIN. As a security precaution, you’ll need to reset your password whenever you reset your PIN.

What do I do, if I forgot which email address I used to sign up?

First make sure it’s not a password issue.

Follow these steps:

  • 1. Go to creditoptimizer.easyfinancial.com
  • 2. Click on ""New User""
  • 3. Enter the email address you think you used for your easyfinancial account
  • 4. Click 'Resend Email'

 

If the address is a match in our records, you'll get an email right away to reset your password and you’ll know it’s not a username (email address) issue, it’s a password problem. Reset your password and you’ll be set to log in to creditoptimizer.

 

If you don’t get the password reset email contact our partner ScoreNavigator at 1-866-298-3562 or by email at [email protected].

How do I change my password or PIN?

Log in to creditoptimizer and click on ‘My Account’ in the top-right corner of the screen. From there, you can edit your password and (or) your PIN.

How do I make changes to my creditoptimizer profile?

Log in to creditoptimizer and click on ‘My Account’ in the top-right corner of the screen. From there, you can update your email address, password, PIN, phone number, security question and answer.

Please make a note that changing the email address associated with your account does not change your username, which will remain the email address you used when you first activated your creditoptimizer account.

Can I make changes to my loan payments in creditoptimizer?

No. To make any changes to your easyfinancial loan please give us a call at 1-888-502-3279 or send us an email.

What is a credit report used for?

It’s used by lenders, like us, to assess an applicant's creditworthiness. It’s one of the tools we use to help us determine whether we or can lend money to them and, if we can, how much money we can lend.

Where can I see my credit score?

Log in to creditoptimizer and go to the dashboard. It's a number between 300 and 900.

How will I know if there's a change to my credit report or score?

You'll get an alert sent by email.

How do I use the Target Score Calculator?

Using your current credit score as your starting point, choose your ideal score, and enter that number into the Target Score field. Click 'Enter'. Your Target Score should be a number between 300 and 900 The Target Score Calculator results will suggest specific dollar amounts to put towards each of your tradelines (or debts) to help get you as close as possible to your credit score goal.

How do I use the Best Use of Funds Calculator?

Choose a comfortable dollar amount and enter it into the Best Use of Funds field. Click 'Enter'.

The Best Use of Funds Calculator will suggest how much of that amount to put towards specific tradelines (or debts) for maximum impact. It will also show you the potential credit score you may reach if you follow the suggested steps.

What is the Dashboard?

Your Dashboard is the central hub of information related to your credit profile. You'll be able to quickly access all of the tools and resources creditoptimizer has to offer, including your credit score and history, the calculators, and the free financial education library.

How we help

How can you help with debt consolidation?

Consolidation loans can help by establishing 1 easy fixed monthly payment that you can afford. These loans allow you to take back control of your cash flow and allow you to get back on your feet. Our debt consolidation loans can help you pay off your debt faster.

How can you help improve my credit score?

This question has a complex answer that is better discussed in person or by phone, but with our loans we report to the credit bureau. This means that during your time with us you have the opportunity to impact your credit history in a positive way. Unfortunately, it takes up to 30 day or even longer for TransUnion or Equifax to update their records. Please be sure to check your credit report regularly for any inaccuracies.

How do you help with unexpected expenses?

Unlike payday loans, easyfinancial can lend up to $45,000 to help deal with those unexpected expenses.

If I am bankrupt, can I still get a loan?

We are able to consider clients who have been discharged from past bankruptcy for at least a year. We have a credit savings loan called creditplus, which helps you rebuild your credit after bankruptcy.

What is your loan protection plan?

Our loan protection plan is to protect you in case of job loss, injury, illness and in the worst possible case if you pass away. .

  1. If you are laid off, your payments are covered up to 6 months
  2. If you are injured or ill, your payments are covered up to 6 months
  3. If you are critically ill, your payments are covered 100%
  4. If you pass away, your payments are covered 100%

I purchased a Home and Auto Insurance Protection Plan, who do I contact in case of emergency?

If you purchased a Home and Auto Insurance Protection Plan and have an emergency please contact 1-866-5-CANADA.

Do you provide FREE educational resources on topics like improving my credit score, managing debt, etc?

Yes! Our free financial education website, goeasy Academy has action-oriented articles, quizzes, videos and more to help you take greater control of your financial future and make smarter money decisions.

How do I get a loan increase?

You may be eligible for a loan increase if you paid down 15% of your loan amount. Brand new loans are not eligible for loan increases.

Why is my balance still so high?

When you have extension in NSF or skipped payments, all that interest collects. Until you make up the payment, the balance will still remain high. Make additional payments towards the loan to cover the NSF charge and skipped payments.

How do I lower my monthly payments?

Make extra payments. Be sure to not make the payment the same time your contractual payment comes out.