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Personal Loans in Toronto

Taking care of an emergency expense isn’t something anyone wants to worry about, but the unfortunate reality is that from time to time, you’re going to run into these situations. With that in mind, having some idea of what you need to do to handle financial emergencies is important. So, if you don’t have savings that you can tap into at any given moment, a Line of Credit in Toronto could be a potential solution!

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Applying for Toronto Personal Loans

Toronto is the capital city of Ontario and the largest city in Canada. It is a bustling city with a diverse population. Between the Royal Ontario Museum, the Hockey Hall of Fame, the CN Tower, and so much more, visitors and residents alike are never short on places to go and things to explore.

However, living in Toronto comes at a cost, as it’s one of the most expensive cities to reside in all of Canada. That’s why it’s important to make sure that you’re financially prepared to tackle any unexpected expenses that you might run into. Dealing with issues like home repairs, car repairs, or uninsured medical emergencies can be a challenge when you don’t have any warning, so if your savings are low and you run into an emergency expense, a line of credit in Toronto could be a useful option to consider.

How Does This Line of Credit Work?

If you apply for a Line of Credit in Toronto from Fora, you may be able to qualify for an online loan with a credit limit between $1,000 and $10,000.

Why apply for this personal loan in Toronto? Well, one benefit is that you can conveniently apply for this Line of Credit online in a matter of minutes.

So, if you’re looking for some financial help and you feel like a Toronto online loan could give you the boost you need, a Line of Credit online from Fora has a quick and simple application process! If your application is approved, you can rest assured that you’ll be able to tap into funds to help you handle an emergency expense, as long as you have available credit3. On top of this, the money you draw can be in your bank account as soon as the same business day!

Note: A Line of Credit is a type of online loan. As a revolving credit product, you can request draws, repay and redraw as needed from your available credit.

Online Loan Summary

Credit Limit: $1,000 to $10,000
Loan Type: Line of Credit
Minimum Payment: Interest + Principal Contribution
Funding Time: Same Business Day2

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Why Choose a Personal Loan in Toronto from Fora?

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Flexible Access to Cash

  • If you’re able to access the internet, you can apply for this Toronto personal loan.
  • This Line of Credit can provide ongoing access to a financial safety net to help you in your time of need3.
  • If your application is approved, you may get your funds as soon as the same business day.

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Dedicated Customer Service

  • Our Customer Service team is waiting to give you a hand when you’re in need!
  • We’re here all week to give you more information relating to the Line of Credit offered from Fora.
  • Reach us here.

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Safe & Secure Borrowing

  • We use industry-standard practices to protect your data and privacy.
  • Trust your personal information is secure with our use of 256-bit Advanced Encryption Standard (AES-256).
  • Your secure online account will have the information you need regarding your Line of Credit.

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Details of the Toronto Line of Credit

If money is tight, your budget is already full to the brim, and you find yourself needing to deal with a financial emergency, it can be a tough hurdle to overcome when you don’t have an emergency fund. If you’re in a tough spot like this, a personal loan in Toronto may be able to give you the help you need! The emergency situations that you may find yourself in aren’t going to be identical to everyone else’s, but some common emergencies include unexpected car or home repairs, or even uninsured medical emergencies.

If you’re looking to apply for a personal loan with Fora, click here to apply or call us at 1-888-899-3672 for more information.

Credit Limit

$1,000 to $10,000.

Making a Draw

You can choose to withdraw your available funds all in one go, or in smaller amounts from your available credit, as needed3.

If you request a draw, funds can be deposited into your bank account as soon as the same business day.

Cost

The annual interest rate for a Line of Credit from Fora starts as low as 19.9%5.

You only pay interest on what you draw, not your entire credit limit.

Repayment of the Online Loan in Toronto

If you have an outstanding balance, you will need to make Minimum Payments which are typically due on your pay dates.

Each Minimum Payment includes:

  • Interest charged on your outstanding principal balance for each day of your billing cycle; and
  • A contribution towards your principal, based on your income frequency.

The exact amount of each Minimum Payment and the corresponding due date will be outlined in your statements.

Keep in mind that you always have the option of making additional payments without having to worry about prepayment penalties. You may log into your account to make a payment online using most debit or pre-paid cards or call 1-888-899-3672 to set up a payment.

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Frequently Asked Questions about Loans in Toronto Online

To be eligible for a Line of Credit from Fora, you must (at minimum):

  • Be a Canadian citizen or permanent resident with a valid government-issued identification;
  • Be a resident of and legal age of majority in Ontario;
  • Have an open and active personal bank account;
  • Have a consistent source of income;
  • Receive income through direct deposit; and
  • Have a valid contact number and an active email address.

Yes, in order to apply for this Line of Credit in Toronto, you’ll be required to have an open and active personal bank account.

You won’t! A key feature of this online Personal Loan in Toronto is that you can apply without an appointment. Submitting an application online is simple, convenient, and fast! Just click here and you can fill your application out in just minutes1.

If you need any more information, you can simply call us at 1-888-899-3672 and we’ll do our best to help you.

The Line of Credit from Fora is currently offered in Ontario, Alberta, New Brunswick, Nova Scotia, British Columbia, and Saskatchewan. There will be more provinces and territories operational in the future. Check back regularly to see if the Line of Credit online from Fora is available in your area.

At Fora, Credit Inclusion is Important to Us

At Fora, we’re proud to offer the flexibility of a Line of Credit and help Canadians all over the country. If you need any help with the Line of Credit from Fora, don’t hesitate to email us at service@foracredit.ca. For more info, visit our general FAQs page.

1 Not all applications are approved. Duration of approval process may vary. Credit limits may vary and are subject to verification criteria.

2 If approved, any requested funds will typically be deposited into your bank account the same business day; timing of funding may vary. The date and time the funds are made available to you by your bank are subject to your bank’s policies. For specific funding cut-off times, click here.

3 You can request a draw at any time, so long as you have available credit, your account is in good standing, and you otherwise meet any criteria required to request draws from your account.

4 The exact impact of your Fora account activity to your credit score is unknown as your credit score is influenced by numerous contributing factors.

5 Actual rates may vary from 19.9% to 46.9% and are subject to eligibility, underwriting and creditworthiness.

6 The Fora Payment Protection Plan includes coverage against Involuntary Unemployment, Disability, Critical Illness and Death and Dismemberment. For full details regarding coverage, please review the Certificate of Insurance.

Contact Us

 

1-888-899-FORA

PO Box 17071, Toronto,
RPO Yonge-King, ON M5E 1Y2

Fora Credit

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