The 7 Best Loan Agencies in Toronto

Finding the right loan agency in Toronto can be a crucial step in managing your finances, whether you’re looking to fund a personal project, purchase a new home, or support your business. The 7 best loan agencies in Toronto offer a range of financial services tailored to meet your needs, providing you with flexible options and competitive rates. From personal loans to mortgages, and even debt consolidation, these agencies are equipped with the expertise to guide you through the process. Below are some key services and considerations to keep in mind when choosing a loan agency in Toronto:

  • Personal Loans: Quick cash solutions for emergencies or planned expenses, with interest rates ranging from 6% to 36% depending on credit score.
  • Business Loans: Financing options for startups or expanding businesses, typically ranging from $5,000 to $500,000 with variable repayment terms.
  • Mortgage Solutions: Competitive options for first-time homebuyers or those looking to refinance, with rates often between 4% and 7%.
  • Debt Consolidation: Simplify multiple debts into a single payment, with interest rates starting at 5% for qualified borrowers.
  • Line of Credit: Flexible borrowing options with interest rates ranging from 8% to 20%, depending on creditworthiness.
  • Auto Loans: Financing for vehicle purchases, with loan amounts typically starting at $10,000 and interest rates between 4% and 15%.
  • Key Considerations: Look for transparent terms, customer reviews, repayment flexibility, and whether the agency is licensed in Ontario.
  • Price Range: Loan amounts can vary from $500 to over $1,000,000, with interest rates and fees depending on the type of loan and the borrower’s credit profile.
7

Number of companies

4869

Verified reviews

4,63

Average rating

First National Financial LP
Contact

1. First National Financial LP

★ ★ ★ ★ ★ 4,5/5
16 York St Suite 1900, M5J 0E6, Toronto
  • Mortgage lender

Why we chose them

First National Financial LP stands out as one of Canada’s largest non-bank mortgage lenders, offering a comprehensive range of commercial and residential mortgage solutions. Since its inception in 1988, the company has been a trusted partner for mortgage brokers, commercial clients, and residential customers nationwide. Known for its customer-centric approach, First National is committed to simplifying mortgage management and delivering personalized service. With a reputation built on expertise, innovation, and reliability, it has become a preferred choice for those seeking competitive mortgage options tailored to their unique needs.

The company excels in providing advanced tools and resources, such as mortgage calculators, prepayment guides, and educational videos, designed to empower clients and brokers alike. Its services span diverse property types, including multi-family residential, industrial, office, and mixed-use developments, ensuring solutions that cater to varying financial goals and requirements. First National’s team of empowered advisors brings deep market knowledge and a proactive approach, offering quick, confident decisions that align with clients’ objectives. This dedication to exceptional service and enduring relationships underscores why the company remains a leader in the mortgage lending industry.

View more
Windmill Microlending
Contact

2. Windmill Microlending

★ ★ ★ ★ ★ 5,0/5
55 St Clair Ave W Suite 401, M4V 2Y7, Toronto
  • Loan agency
  • Charity
  • Non
  • profit organization

Why we chose them

Windmill Microlending is a nationally recognized Canadian charity dedicated to empowering skilled immigrants and refugees to achieve career success. Specializing in providing microloans of up to $15,000, the organization helps newcomers cover costs related to accreditation, training, career development, and living expenses, enabling them to re-enter their professions or secure roles that match their expertise. With a low-interest rate of 6.7%—and an exclusive 4.95% rate for healthcare professionals—these loans address barriers such as credential recognition and financial limitations, ultimately fostering economic integration and professional growth.

Beyond financial support, this non-profit offers a robust suite of career advancement services, including mentorship programs, career planning resources, and financial education to guide clients through the complexities of the Canadian labor market. With over 12,500 loans approved and an impressive 96% repayment rate, the organization has demonstrated its impact, helping clients triple their income and significantly reduce unemployment rates among newcomers. Recognized as Canada’s fastest-growing charity in 2023, it continues to transform lives by supporting immigrants and refugees in rebuilding their careers and contributing their valuable skills to Canada’s economy.

View more
Cash Money
Contact

3. Cash Money

★ ★ ★ ★ ★ 5,0/5
2659 Dundas St W, M6P 1X9, Toronto
  • Loan agency

Why we chose them

Cash Money specializes in providing accessible financial solutions as a loan agency. Known for offering quick and efficient services, the company focuses on addressing immediate financial needs with professionalism and reliability. Whether customers are seeking short-term loans or other financial assistance, the agency prides itself on delivering tailored solutions to meet diverse needs.

Cash Money remains a trusted choice for its financial services. Its dedication to serving customers is evident through its focus on loan assistance, which has positioned the company as a dependable resource in the industry. Despite current website challenges, its established reputation ensures continued trust and engagement from clients.

View more
Prudent Financial Services
Contact

4. Prudent Financial Services

★ ★ ★ ★ ★ 4,5/5
1150 Sheppard Ave W, M3K 2B5, Toronto
  • Loan agency

Why we chose them

Prudent Financial Services specializes in providing financial solutions tailored for individuals with lower credit scores. Known for its inclusive approach, the company offers accessible loan options designed to meet the needs of those facing credit challenges. In addition to its core loan services, the company operates Prudent Mortgage Corp, a division dedicated to mortgage solutions, and Prudent Value Cars, a premium used vehicle dealership that makes car ownership more attainable. This diverse range of offerings highlights the company’s commitment to supporting its customers’ financial and lifestyle goals.

Recognized for its customer-focused approach, the company stands out as a reliable partner for those seeking financial assistance without traditional credit barriers. With a focus on flexibility and accessibility, its services provide a pathway for clients to improve their financial standing while meeting essential needs like housing and transportation. This dedication to inclusivity and practical solutions makes it a valuable addition to our directory.

View more
Mcap
Contact

5. Mcap

★ ★ ★ ★ ★ 4,3/5
200 King St W #400, M5H 3T4, Toronto
  • Mortgage lender
  • Financial consultant
  • Financial institution
  • Investment service

Why we chose them

MCAP stands out as Canada’s largest independent mortgage finance company, offering a comprehensive suite of financial services tailored to institutional investors. Specializing in the origination, trading, securitization, and servicing of residential, construction, and commercial assets, the company plays a pivotal role in the Canadian financial landscape. With a strong focus on innovation and efficiency, MCAP provides unmatched expertise in mortgage lending, financial consulting, and investment services, making it a trusted partner for clients seeking robust financial solutions.

Renowned for its dedication to excellence, the company delivers personalized strategies to meet the unique needs of its clients. Its ability to navigate complex financial markets and consistently deliver results has earned it a reputation as a leading financial institution. Whether assisting with large-scale construction projects or managing residential mortgages, MCAP’s commitment to service and professionalism ensures that institutional investors receive the highest level of support and value in their financial endeavors.

View more
24Cash.ca
Contact

6. 24Cash.ca

★ ★ ★ ★ ★ 4,4/5
88 Queens Quay W Suite 2500, M5J 0B8, Toronto
  • Loan agency

Why we chose them

24Cash.ca stands out as a trusted Canadian loan agency offering fast and hassle-free online personal loans tailored to meet urgent financial needs. Specializing in short-term loans of up to $500 or $850, the company provides flexible repayment terms ranging from 90 to 120 days. Their streamlined application process eliminates the need for credit checks and paperwork, making it accessible to individuals with bad credit or no credit history. With a commitment to confidentiality and security, 24Cash.ca ensures that every transaction is safe and discreet, utilizing high-security standards akin to those of financial institutions. Borrowers can expect same-day approval and direct deposit, providing quick access to funds when they need them most.

As a reliable alternative to traditional payday loans, 24Cash.ca offers Canadians the chance to borrow responsibly without being penalized for their credit score. Their services emphasize customer convenience, adapting repayment schedules to align with pay frequencies and offering loan renewal options. The company also adheres to responsible loan policies, carefully assessing borrowers’ financial situations to ensure repayment feasibility. While their APR is capped at 22%, they caution users to consider loans as a last-resort solution due to higher interest rates compared to conventional banking institutions. With a focus on transparent lending practices and personalized customer care, 24Cash.ca is a valuable resource for Canadians seeking quick financial assistance.

View more
Easyfinancial Services
Contact

7. Easyfinancial Services

★ ★ ★ ★ ★ 4,7/5
830 Warden Ave. Unit E3A, M1L 4W1, Toronto
  • Loan agency

Why we chose them

easyfinancial Services stands out as a trusted loan agency dedicated to providing flexible financial solutions for individuals in Toronto and beyond. Specializing in personal loans, home equity loans, and auto loans, the company is known for offering alternatives to traditional payday loans, even for those with bad or no credit history. With loan approvals as quick as 10 minutes and amounts up to $100,000, easyfinancial Services empowers clients to rebuild their credit and achieve their financial goals through accessible, transparent, and customer-friendly services.

What sets this company apart is its focus on accessibility and customer care. Offering value-added services and tools such as financial tips and calculators, easyfinancial Services helps clients make informed decisions. Their commitment to inclusivity is evident in their soft credit check process, which allows applicants to explore their options without impacting their credit score. With testimonials highlighting their courteous and efficient service, the company has built a reputation for making financial assistance straightforward and stress-free for customers across Canada.

View more

Frequently asked questions

What types of loans do loan agencies in Toronto typically offer?

Loan agencies in Toronto typically offer personal loans, business loans, mortgages, debt consolidation loans, lines of credit, and auto loans. Each type is designed to meet specific financial needs, such as emergencies, home purchases, or business expansion.

What is the average cost of borrowing from a loan agency in Toronto?

The average interest rates can vary depending on the loan type and credit profile. Personal loans may have rates from 6% to 36%, mortgages from 4% to 7%, debt consolidation loans starting at 5%, and auto loans between 4% and 15%. Loan amounts can range from €460 to over €930,000.

How long does it take to get approved for a loan in Toronto?

Loan approval times vary by agency and loan type. Personal loans and lines of credit are often approved within 1-3 business days, while mortgages and business loans may take 1-4 weeks depending on documentation and complexity.

What are the key factors to consider when choosing a loan agency in Toronto?

Key factors include transparent terms, competitive interest rates, customer reviews, repayment flexibility, the range of services offered, and whether the agency is licensed and regulated in Ontario.

What credit score is typically required to qualify for a loan in Toronto?

Most loan agencies in Toronto require a credit score of at least 600 for personal loans, while mortgages and business loans may require a score of 650 or higher. Lower scores may still qualify but could result in higher interest rates.

Are there loan options for individuals with poor credit in Toronto?

Yes, many loan agencies offer loans for individuals with poor credit, such as secured loans or debt consolidation options. Interest rates for these loans may be higher, ranging from 20% to 36%, and collateral may be required.

Can I negotiate loan terms with a loan agency in Toronto?

In most cases, loan agencies are open to negotiating certain terms, such as interest rates or repayment schedules, especially if you have a strong credit profile or provide collateral. Always ask about flexibility during consultation.

Do loan agencies in Toronto charge additional fees apart from interest rates?

Yes, many loan agencies charge additional fees such as origination fees, late payment penalties, or early repayment fees. These fees typically range from €46 to €460 depending on the loan type and agency policies.

Related services

Publish a company