How long do I have to wait to receive my money?

For the loans we guarantee, you will receive your funds via direct deposit. If we approve your application and you return the signed contract to us before 11:30 AM, the funds will be deposited electronically into your account on the same day, between noon and midnight. If you return the signed contract to us after 11:30 AM, the funds will be deposited electronically into your account the following day, again between noon and midnight. Additionally, you also have the option to choose an instant deposit via Interac e-Transfer for a fee of $30.

What are your eligibility criteria?

Our eligibility criteria are as follows:

  • Be 18 years of age or older
  • Reside in Canada
  • Have stable employment
  • Receive your salary via direct deposit into a Canadian bank account
  • Have a minimum net income of $1,500 per month
  • Not have filed a consumer proposal, debt consolidation, or bankruptcy within the last 30 days, nor plan to do so within the next 6 months.

What sources of income are not accepted?

The following sources of income are not accepted:

  • Social assistance (if net income is less than $1,500 per month)
  • Alimony/Child support
  • Loans and bursaries

What is a Suretyship Agreement?

A suretyship agreement is a form of endorsement that allows you to obtain a loan even in the absence of a credit history or with a high debt-to-income ratio. The surety endorses the loan on your behalf in order to reduce the risk for the lender.

What should I expect if I am self-employed?

If you are self-employed, your application will be assessed in the same way as an application from a salaried employee.

For what reasons could my application be declined?

Several reasons may lead to the refusal of an application, including:

  • Failure to complete Instant Bank Verification (IBV)
  • Bank account opened too recently
  • Incomplete documentation for review
  • Failure to meet eligibility criteria
  • Excessive debt-to-income ratio
  • Insufficient funds (NSF) or stop payment order
  • Other reasons deemed appropriate

When will I be eligible for a renewal?

You are eligible for a renewal if your balance is less than $150. However, please note that the renewal of your bond is never guaranteed. If your balance is less than $150 but you have failed to comply with the original terms of your contract, your renewal application may be denied. Other grounds for refusal may also apply.

What are your interest rates and surety fees?

Interest rates and surety fees vary depending on the products we offer. For a detailed description of our products, as well as the applicable interest rates and surety fees, please consult our homepage and the Services page.

Can I pay off my entire balance at any time?

Yes, you can pay off your entire balance at any time by contacting us. We will put you in touch with the lender, who will provide you with the necessary information to make the payment and settle your loan balance.

What are my options if I have trouble making repayments?

If you are experiencing difficulties making repayments, please contact us to discuss the solutions best suited to your situation. We are flexible and attentive to our clients' needs. You have the option to modify your payment schedule for a fee of $12.50, or to defer a payment for a fee of $25. Please note that a fee of $45 may be applied in the event of an NSF (Non-Sufficient Funds) transaction or a stop payment order. All mentioned fees are at the lender's discretion. In the event of a prolonged payment default, the debt may be referred to our collections agency.

How do I properly complete my application?

To submit a new surety bond application, please use our website. We do not accept applications by phone. If your application is accepted, you will receive an email requesting any missing documents needed to verify your identity and finalize your application. If your application is declined, you will receive an email explaining the reason for the refusal.

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