How to Choose a Loan

How to Choose a Loan

In today’s economy, it’s hardly surprising that Canadians find themselves turning to Lendee for short-term loans from time to time. In an ideal scenario, we’d all have sufficient savings to draw from when we hit a financial hurdle, but sometimes you need access to online payday loans to make ends meet. It is your responsibility to make sure that you have understood all the terms of a loan before committing to it. Finding the best financial solution depends on individual circumstances and requirements, so it’s impossible to give a one-size-fits-all advice on how to choose the right loan. Lendee is intended to help you out in the short-term, but should not be used as long-term financial solution. This means that if you know some money is coming your way, a Lendee Payday loan could be the right fit, but we don’t recommend using these types of loans as a permanent credit solution.

Loan Education Centre

If surviving from paycheck to paycheck or managing your debt load is a serious struggle, you may also want to consider meeting with a credit counselor. To support - not replace - the advice of a professional, we’ve compiled some helpful resources below. Come back often as this page is always evolving to serve you better.

Loan Checklist

Questions you should ask yourself

  • Do I need the cash for an emergency financial situation?
  • Do I understand all the fees involved?
  • Have I considered other possibilities?
  • Do I understand that there are serious consequences to failing to pay back my loan on time?

Know your Rates

Make Sure It’s Affordable

Be realistic – can you pay back what you are about to borrow? Does it fit in your budget? Do you understand all the fees involved in a Lendee loan. Be careful not to borrow more than what you can repay and read carefully your loan agreement before signing it. We suggest that you use our rate calculator to borrow exactly what you need to put your finances back on track, not fall further into debt.

Calculate Your Rate

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