Fast loan: What you need to know before applying

Through JetLoans’ co-borrower service, you can request a fast loan of $400 to $2,000, repaid over 3 to 6 months depending on the amount. You fill in our online form, a lender reviews your file, and if the request is approved, the funds are sent by Interac e-Transfer after you sign the contract.

Who reviews your file

JetLoans is a Canadian co-borrower service company. We are not the lender and we do not lend money: a lender reviews your file with a co-borrower.

For the difference between a co-borrower service and a private lender, read what to know before borrowing from a private lender.

How much you can request and for how long

You can request one of these amounts: $400, $500, $600, $750, $1,000, $1,200, $1,400 or $2,000. Repayment runs over 3 to 6 months depending on the amount: 3 months for $400 or $500, up to 6 months for $1,400 and more. Before you choose, compare the available amounts.

Who can make a request

To make a request, you must meet these criteria:

• Be at least 18
• Live in Canada
• Have been employed for at least three months or receive eligible income
• Be paid by direct deposit into a Canadian bank account
• Not be in a bankruptcy process
• Earn at least $1,500 gross per month

From the form to the funds

Your request moves through three steps; the last one applies only if the request is approved. For each step in detail, see how our co-borrower service works.

Departure: the form and the bank verification

You fill in the request on our online form and choose your amount. You then complete a secure, read-only bank verification (IBV), which confirms your identity and your income. This data is not kept once verification is complete.

We do not share your file with credit agencies such as Equifax or TransUnion.

In flight: the review

Your file is reviewed to make sure the amount matches your repayment capacity. The review includes in particular your debt ratio, your income and financial stability, your bank transactions and your current obligations.

Arrival: the contract and the Interac e-Transfer

If the request is approved, you sign the contract and return it. No up-front payment is required on signing. The funds are then sent to your bank account by Interac e-Transfer.

Reasons a request may be refused

Your request may be refused if you submit incomplete or incorrect information, if your income is fluctuating or you are self-employed, or if you have a history of payments rejected for insufficient funds or an inability to pay. Every request is reviewed, and no result is promised.

Fees that may apply

Administrative fees may apply, in particular:

• up to $40 for a refused or returned payment;
• up to $25 for certain changes or actions outside the contract.

In the event of a missed payment, interest may be added and additional fees may be required. No debit fees apply, and you can repay early without penalty. Read the important information on payments, fees and commitments before you submit a request.

Before you decide

The financing offered is intended for clients with a higher-risk credit profile.

Before you submit a request, make sure that:

• the financing is necessary;
• you are able to keep up with the payments;
• you are not taking on several debts at the same time.

If you are weighing a fast loan against a personal loan, read about the mistakes to avoid with a personal loan.

When you are ready, choose your amount in the form and complete the bank verification.

Submit a request