Frequently Asked Questions

We realise you may have questions when considering a loan. Here are some of the most common questions we encounter. In case you cannot find the answer to your question, please contact us, and one of our representatives will assist you as soon as possible.

Will I be subject to a credit investigation?

No, Loonie Financial does not use credit agency scores to underwrite your loan.

How and when do I receive my funds?

We automatically deposit the funds into your bank account via EFT (Electronic Funds Transfer). Please note that although most online loans can be funded on the same day, it can take up to 24 hours in some cases.

What documents are needed for a Loonie Financial loan?

Since 100% of our loans must pass banking verification our process is paperless. At the moment of eligibility, you will only need to provide our billing department with a photo ID. In the case of discrepancies in your account, we may require additional documentation such as a pay-stub or a utility bill.

How much can I borrow?

Our loans range from $250 to $2000. However, our lender's credit risk may assign a different amount than originally requested. This assures that the borrower will be able to reimburse the loan without any negative impact on their budget and/or financial situation.

Can I defer a payment?

Yes, you are able to defer 1 payment within your cycle. It is impossible to defer your first or final repayment. To defer a payment you will need to contact us at info@looniefinancial.com.

Will Loonie Financial call my employer?

Loonie Financial may validate your employer’s phone number but will not implicitly inform them that it is for a loan. The only time an employer or reference will be contacted is in the case we cannot reach you and as a last resort.