FLEXILOANS | Instant Short Term Loans in Canada No Credit Check

No matter how well you juggle your finances, things do fall apart. If you are also facing a cash crunch because of an emergency, lending money is the most sensible way to manage the dire situation. But for many people, lending a small amount ends up in a debt trap. It is not because they did something wrong; it is just they chose the wrong lending option. This is what today’s post is about. We will evaluate the two most popular instant lending options, i.e., short term loans in Canada and payday loans. Payday Loans Payday loans are the instant small-dollar loans usually of $500 or more that you have to repay in a single payment on your next payday. This type of loan offers you immediate financing within a few hours but charges a very high application processing fee and predatory interest rates in the range of 300% to 600%. Rollovers in payday loans are very common, and there are many reports that suggest that the majority of the borrowers take out a second payday loan within a...

If you go by the definition of a short term loan, it is a loan that needs to be repaid within a year or less, and from this very feature, all the pros and cons of short term loans emerge. The short term loan category includes a variety of loans ranging from payday loans to instant paperless short term loans in Canada, credit union loans and bank overdrafts. In this post, we will look at the pros of short term loans. Pros of Short Term Loans 1. Instant Amount Transfer If you need emergency funds, instant short term loans from online lenders are the best way to meet your emergency needs. You can easily get approval within a few minutes if you meet the criteria of the lending platform or lenders. Your application will be processed, and money is transferred to your account the same day. Easy peasy!    2. Approval with Poor/Bad Credit Score Not all short term loans options lend you money with bad credit, but some do. For example, a bank or credit union will perform a cre...

There are many different options for financing out there in the financing world, and many different terms have been used. But essentially, there are two types of credit: one is fixed, and the other is variable. Most of the financing options can be categorized into these two types. Fixed credit is a typical installment loan where you have to repay the loan in a fixed number of payments over a set period of time. Whereas, in variable credit, you have the flexibility to repay the loan in a flexible number of payments over a flexible period of time depending on the terms and conditions of a loan, and you can also re-borrow the money up to the agreed limit as you pay off the debt. In this post, we will find out how an instant paperless loan with revolving credit works. How Does a Revolving Credit Loan Work? As explained above, revolving credit is a flexible loan. What actually it means is you can re-borrow the money once you paid off the debt. To easily understand, you can consider...