The best loan online in 2020

Minimum loan amount


Maximum loan amount


Minimum loan term

6 months

Maximum loan term

60 months


4.6 - 46.96 %

Minimum age

18 years


Representative example: Loan amount: $2,000, Loan Term: 24 months, Monthly payment: $111.88, Total amount repayable: $2,685.12, APR: 29.96%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Minimum loan amount


Maximum loan amount


Minimum loan term

6 months

Maximum loan term

120 months


19.99 - 39.99%

Minimum age

18 years


Representative example: Loan amount: $7,500, Loan Term: 60 months, Monthly payment: $233.47, Total amount repayable: $14,008.40, APR: 27.99%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Minimum loan amount


Maximum loan amount


Minimum loan term

13 weeks

Maximum loan term

26 weeks


19.42 - 22.96%

Minimum age

18 years

* Only for independent “gig” workers: Amazon Flex, DoorDash, FaceDrive, Foodora, Hiride, Hyr, Instacart, Lyft, TaskRabbit, Skip the Dishes, Uber & Uber Eats, Upwork.


Financial services platform only for independent “gig” workers.
Representative example: Loan amount: $500, Loan Term: 13 weeks, Weekly payment: $39.67, Total amount repayable: $515.71, APR: 22.96%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.


Useful information about financial products and debt management

Before borrowing ask yourself

  • Whether you can afford to pay back the money you're planning to borrow?
  • Can the purchase wait until I can afford it without taking a loan?
  • If the purchase is urgent is there another way to get money by asking employer, family or friends.
  • If the purchase is not urgent can I save money?

You should never take a loan if

  • You want to take a loan just to pay off you previous loans or debts.
  • You already have one or more loans.
  • You already have other outstanding debts and/or missed payments.
  • If you are not sure of your capability to pay the loan back on time.

If you still need to take a loan

  • Look at your income and outgoings and think if you'll be able to pay all your bills and debts.
  • Calculate how much you can afford to repay each month.
  • If your budget shows that you'll have no money for extra payments then it means you can't afford to take a loan.

Loan term

  • Choose the shortest loan term you can afford. Longer-term loans might seem appealing at first as there are lower monthly repayments, however it may turn out that the total repayment is higher. If affordable it's better to take a loan for shorter period of time and pay back higher amount of money each month.

  • Look at your income and outgoings and think if you'll be able to pay all your bills and debts.Calculate how much you can afford to repay each month. If your budget shows that you'll have no money for extra payments then it means you can't afford to take a loan.

  • Don't accept first loan you're offered, compare various lenders to make sure you get the best possible loan offer!

You should never take a loan if you are not sure of your capability to pay the loan back on time.

Requirements to qualify for a loan

  • You must be a resident of Canada, but do not reside in Nunavut.
  • You must have reached the age of majority in your province of residence.

Make sure you have all the paperwork

  • Proof of identification.
  • Proof of income.

Annual Percentage Rate (APR)

Annual Percentage Rate represents an annual cost (in %) of borrowing. The APR takes factors such as interest rate and certain other fees and charges into account. In order to make it easier for you to compare one loan to other similar loans, lenders are required to tell you their APR before you sign an agreement.

For example:

Lender A offers
5000 CAD for 2 years
with an APR of 27.3 %
Lender B offers
5000 CAD for 2 years
with an APR of 30.6 %

As it shows, in the scenario above, borrowing from Lender A would be a better idea, because you would get the same amount of money for the same term, but each month you would pay less interest.

However, it is important to remember that you should only use the APR to compare alike conditions of loans. For example, comparing the APR of a quick loan to the APR of a traditional longer term loan or a consumer loan wouldn't be helpful at all.

Borrowing costs and fees

  • Establishment fee - Some lenders may ask you to pay this fees when setting up your loan.
  • Monthly loan administration fee - Some lenders may ask you to pay monthly loan administration fee.
  • Early loan repayment fee - You may be asked to pay this fee if you decide to pay-out your loan early. This fee is calculated according to how much you still owe to your lender and for how long.
  • Late payment charges - If you miss a payment you usually have to pay late payment charge, so make sure you never miss a payment to avoid extra charges, also please note that this can also affect your credit score, which can make it harder to borrow money in the future.
  • Enforcement expenses - If you don't pay back your loan, your lender can go to court to recover the owed money, in such cases you will be asked to cover these expenses.

Make sure that the lender is licensed

You should only borrow from a licensed lenders to avoid unpleasant situations. Always make sure that the company has a license number in each state where they are doing their business. Usually this information can be found on lenders website in one of the sections.

If you're not able to pay back on time

If you realize that you will not be able to repay the loan on time, there is a service of loan repayment period extension, which is offered by many companies for additional cost. Every credit company sets the fee for the service of extending repayment period itself. Please contact your lender immediately to discuss your loan repayment options.

Which is the best place to apply for a loan?

There are quite a lot of loan companies. We recommend you refrain from cooperating with companies that provide dubious service or companies with bad customer reviews. On our site you will find reliable companies that have been working in the field of crediting for a long time.


  • Get to know us - MoneyGuru24 is here to help out every internet user who is searching for the right service and/or product in a specific niche. Our services are available for anyone free of charge. Our team’s main goal is to provide the best opinion about the product and/or service, by comparing specific features. We want our website visitors to get as much information as possible, to help them make the smartest decision.

  • Process description - Before displaying and listing services and products on our website, our team members from the research, marketing, and data departments come together and very carefully look into each of the company and its offers. Because of the team member experience, we can see red flags before anyone else. We spend many hours looking into all details, consumer reviews, specifics and brand provided information on every product even if it comes from the same brand. Only after collecting all the information we can find, we decide whether to display this brand with its product on our list or not.

  • Our Partners - We have high standards for ourselves and also for our partners. We work together only with companies with a good reputation, without any legal or ethical issues. Some partnerships are paid, which means that it can make an impact on the listing positions, but it's not always like that. Most of the time, the content department team decides the listing positions. If our page visitor has chosen a product and/or service from our provided list, he may be guided to partner’s websites to continue the process and we may get a commission from his purchase. Even if we sometimes get commissions from our partners, we don`t change our basic structure and overstep our principles about listed partner companies.

  • Useful feature description - We always think of ways to make our website more user-friendly. To save visitors time we have implemented a useful tool called “pop up window”. By moving a mouse cursor to the button “Apply now” you can access this window, which will show up giving you the additional information that could help you to get more important details about product/service and may also include product/service requirements. If you as our consumer or page visitor wish to know more about some specific product/service you can visit our "full description" page where our team has collected and published all information that can be useful for you.

  • Star rating system explained - We have also added a great tool to all of our listed merchants - stars. Every visitor after using a service or getting a product can rate how satisfied they've been with this brand and/or product on a scale from one to five, five stars being the highest level of satisfaction and one - the lowest. On the right side of stars, you can see the number of our customers that have rated this listed brand previously. To ensure a more objective rating, we let one consumer vote only one time per 24-hour window. The star feature also can impact position at the list. If you see products that have a small rating number or don't have a rating at all don`t be suspicious or hesitate to try them out. Empty star features may just show that this is the brand new partner or newly listed product provider.

  • Updates - With the help of the world wide web, information changes very rapidly in this century. Every few days our content team goes through all displayed information and compares it with the information from the source. If there are any changes, then we get approval from the source and the content team updates the newest information on our website. We do this because for us it is important to provide up-to-date information to our website visitors and potential consumers. Just keep in mind that we are only humans and we are doing our best!

  • Reach out to us - We understand very well that each consumer's experience can be very different. For us, it is important to hear not only great reviews but also complaints, suggestions and comments. For this reason, we have a section called “Contacts” where you can find the information on how to reach us. We suggest using an email as in that way we can investigate your described situation and send you an answer or give a call as fast as possible. Usually, our team answers in less than 2 working days.

The operator of is not a bank or lender. refers to a number of selected lenders, and is not a complete list of your credit opportunities. Therefore no charge will be applied to you for this service. You don’t have to provide any personal information in this site. All personal, financial and employment data should be provided to bank / lender for acceptance of your application for a loan. is not responsible for those credit agreements, which may be provided through the links specified on our site. By using this website you constitute agreement with these policies. We suggest you to read all of the information in selected lenders web page and always be aware of your own financial status and repayment possibilities.


  • Should I consider getting a loan?

    If you find yourself in a sudden need of money, for example, you receive an unexpectedly big bill for a service, first – talk over with whomever you got your bill from and explain the situation you’re in. If you suffer from a chronic debt problem, taking a loan can make the situation worse. Be aware of your financial status at any time.

  • How much will I pay?

    Interest rates vary in different financial companies. That is where comes in handy, because you can actually compare rates, terms and conditions to find the most efficient loan strategy for your needs.
    You should always check the small print in loan provider’s web page, but in the majority of cases you don’t have to worry about administration fees or hidden costs. So be careful, considering your payments.

  • How do I get a loan?

    You can apply for a loan using an online application form. To get the loan you have to be over 18, employed, with a regular monthly income and have a bank account.
    Even though the application is easy, you shouldn’t rush into getting a loan. Be careful and read all the information, small print, terms and conditions on the politics of financial enterprise which you find most efficient after comparing all the options in

  • What happens if I can’t pay back my loan?

    If you're not able to pay back loan on time, contact your lender immediately to discuss your payment options. If you miss payments or fail to repay your loan then it is quite possible that the lender will leave a bad mark in your credit reference file. This can cause difficulties to obtain credit, leasing or other financial services in the future. Serious cases of missed payments (non-payment) can be brought to court. In this case, the court costs will be added to the amount of your debt. For more information about loan conditions visit your lender’s website.

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